The software giant Microsoft has launched a new product Blockchain as a Service (BaaS) that allows companies in all vertical sectors to implement a flexible instance of Ethereum tailored to the environment business.
Announced Tuesday, Ethereum Proof-of-Authority on Azure allows companies to create applications on an Ethereum blockchain that is not protected by a Proof-of-Work (PoW) consent algorithm and therefore does not require mining – features that they are better suited for networks where participants do not trust each other.
PoW "works great on anonymous, open networks where cryptocurrency promotes network security," said Azure Global Cody Born software engineer. "However, in the private / consortium networks the underlying ether has no value."
Born explained that since all the participants on a corporate blockchain network are known and reliable, governance can be separated from the operation of the network.
To this end, the Proof-of-Authority product presents an integrated decentralized application (DApp or dApp) called "DAP Governance" which provides the members of the consortium with the authority to govern the network or delegate their voting power to others. Network participants may also delegate other nodes to vote on their behalf if their primary nodes go offline, ensuring that all members maintain a constant consensus.
Network administrators, in turn, can use chain voting to vote and alter network authorities in a transparent and verifiable manner.
Along with the original Azure Ethereum product based on PoW, blockchains using this new consensus model can be implemented in just five minutes, providing companies with a single-click DLT
. usability of the product, Microsoft's integrated support for smart contracts created using Parity's WebAssembly toolkit (Wasm), allowing developers to write smart contracts in familiar programming languages like C, C ++ and Rust instead of learning Solidity , The primary programming language of Ethereum.
Close-up image of Shutterstock
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