Major improvements are coming in the Blockchain in 2020

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Everyone in the business world already has a blockchain strategy. If they do not have one now, they may stay or miss an opportunity. In recent years, the benefits and risks badociated with the full adoption of blockchain technology have been estimated, badyzed and debated. One thing is clear: despite the potential for significant progress, the adoption of newly developed technology presents many risks that should not be underestimated. Blindly introducing a new stack of technologies into an already operational production environment means exposing this environment to potentially dangerous security breaches, hackers and data loss.

So where are we now? Most blockchain protocols claim some level or maturity … but are they in fact sufficiently mature? Are they ready for full on-site deployment in large companies? Will CIOs and other business leaders benefit from the same comfort as the tools they already have? Let's look at what is needed to move a blockchain protocol from open source to enterprise.

It is not surprising that the largest cloud providers are also the main drivers of the market. Blockchain as a service (BaaS) model. Let's call them BaaS level 1 suppliers. They have already established themselves as market leaders with a broad customer base. Offering various cloud services and expanding to blockchain seemed like a logical and evolutionary step.

Microsoft Azure

Microsoft is one of the most important players in the BaaS space. So far, it has focused primarily on Ethereum, but also offers R3 Corda and Hyperledger Fabric network services. He devoted many resources to the construction of the Azure Blockchain Workbench and the Azure Blockchain service. The Microsoft team is also an important founder and active participant of the Ethereum Enterprise Alliance (EEE) and Token Taxonomy Initiative (TTI). In addition, he recently joined the Hyperledger family, for which he will contribute to the code and promise to be an active member.

Amazon Web Services (AWS)

AWS and Microsoft Azure have almost equally divided control of the blockchain's managed space, though your niche determines which services you use. If you are in financial services, you will probably use Azure, but if you like health care, insurance or other sectors, your choice is probably AWS. Recently, AWS has made available to the public its Blockchain managed offer. For the moment, it only supports Hyperledger Fabric, but it is also planned to integrate Ethereum. AWS has also invested in the development of Amazon Quantum Ledger Database (QLDB), which is a database containing only an append with a verifiable transaction log by cryptography.

IBM Cloud

IBM is a leading source of Hyperledger Fabric's source code and is therefore actively involved in providing cloud services and product updates. Recently, IBM has opened its IBM Blockchain 2.0 in multi-cloud, which means that you can run your Fabric network on different cloud providers.

Oracle blockchain

the Oracle blockchain platform its solution relies solely on Hyperledger Fabric, which is not ideal, but offers sophisticated services such as improved node provisioning, blockchain browser and enhanced security.

VMWare

VMWare has clearly identified the issues that affect the blockchain's current infrastructure. He works to solve these problems with concord, a highly scalable and energy efficient distributed trust infrastructure for consensual and intelligent contract execution.

In addition to the leading cloud providers, Blockchain as a Service was founded in 2018, which bases its products on existing cloud computing platforms. call them Level 2 BaaS. These are generally smaller and more agile startups, able to offer new products almost every month. This makes them very good choices for a faster marketing strategy. Their solutions are wide and colorful and generally cover different blockchain protocols. They are not yet able to meet most business needs, but they will stay on track and be an attractive option as long as the institution does not disrupt them. The names that stand out in this category are Kaleido and Blockdaemon.

What are the needs of the company from the point of view of the blockchain? Where do we want to see improvements to fully utilize the benefits of decentralized general led technology? Let's separate the main requirements into four categories: platform; interfaces; infrastructure and network; and security and badysis.

Platform

• Operational Resilience – ability to maintain availability and connectivity even when certain components fail, including multiple protection and failover strategies against data loss and corruption.
• Pluggable Consensus – ability to switch the consensus mechanism as needed without rebuilding the entire network.
• Greater capacity for off-line data storage – support for encrypted data storage.
• Adapters allowing SQL-based ledger queries, which will make the developer community wider more comfortable with the use of the blockchain.

Interfaces

• Enterprise Integrations – predefined modules and onramps for existing enterprise systems.
• Robust Oracles – the ability to integrate real-time external data into smart contracts. Chain link.
• Integration with GraphQL, a language developed by Facebook that provides a powerful API to get only the dataset you need in a single application, seamlessly combining data sources.
• Identity Federation – ability to authenticate with existing identity providers, which will facilitate faster adoption at the consortium level.
• Built-in privacy and authorization features – for transactions, accounts, portfolios, smart contracts and network participants.

Infrastructure and network

• Ability to maintain optimal network performance – manage and operate hundreds of thousands of nodes while maintaining low latency and facilitating hundreds of thousands of transactions with a guaranteed purpose.
• Ability to scale and reduce network size on demand – automatically resize a network by adding / removing more validators or givers.
• DevOps tools to facilitate integration with existing computer systems and to make CI / CD building processes faster and more transparent.
• Support for inter-network interoperability and inter-channel atomic exchange.
• Governance framework with established and predetermined transparent structure, participation rules, funding model and financial incentives.

Security and improved badyzes

• Detailed privacy controls on data, intelligent execution of contracts and visibility of transactions.
• Enhanced network monitoring with enhanced contextual contextuality of transactions, ability to troubleshoot chain events.
• SLA monitoring with upward compatibility of upgrades.
• Store transaction history data, combining it with other off-line data sources and making it available for BI reporting tools and other interactive dashboards.

As stated above, the stack of blockchain technologies still has a long way to go before they are mature enough to be adopted by large companies. This is a perfectly normal process, as software developers and business leaders are transforming their minds from the currently compartmentalised and centralized infrastructure to distributed general led networks. Fortunately, we are at the forefront of this technological revolution and have the chance to contribute to what will one day be the norm.

Presentation of Forbes Blockchain 50: Discover companies investing in technology that will accelerate business processes, increase transparency, and save billions of dollars.

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Everyone in the business world already has a blockchain strategy. If they do not have one now, they may stay or miss an opportunity. In recent years, the benefits and risks badociated with the full adoption of blockchain technology have been estimated, badyzed and debated. One thing is clear: despite the potential for significant progress, the adoption of newly developed technology presents many risks that should not be underestimated. Blindly introducing a new stack of technologies into an already operational production environment means exposing this environment to potentially dangerous security breaches, hackers and data loss.

So where are we now? Most blockchain protocols claim some level or maturity … but are they in fact sufficiently mature? Are they ready for full on-site deployment in large companies? Will CIOs and other business leaders benefit from the same comfort as the tools they already have? Let's look at what is needed to move a blockchain protocol from open source to enterprise.

It is not surprising that the largest cloud providers are also the main drivers of the Blockchain as a Service (BaaS) model. Let's call them BaaS level 1 suppliers. They have already established themselves as market leaders with a broad customer base. Offering various cloud services and expanding to blockchain seemed like a logical and evolutionary step.

Microsoft Azure

Microsoft is one of the most important players in the BaaS space. So far, it has focused primarily on Ethereum, but also offers R3 Corda and Hyperledger Fabric network services. He dedicated many resources to creating the Azure Blockchain Workbench service and the Azure Blockchain service. The Microsoft team is also a leading founder and active participant in the Ethereum Enterprise Alliance (EEA) and the Token Taxonomy Initiative (TTI). In addition, he recently joined the Hyperledger family, for which he will contribute to the code and promise to be an active member.

Amazon Web Services (AWS)

AWS and Microsoft Azure have almost equally divided control of the blockchain's managed space, though your niche determines which services you use. If you are in financial services, you will probably use Azure, but if you like health care, insurance or other sectors, your choice is probably AWS. AWS recently made its managed blockchain offer available to the public. For the moment, it only supports Hyperledger Fabric, but it is also planned to integrate Ethereum. AWS has also invested in the development of the Amazon Quantum Ledger (QLDB) database, which is a database that contains only appendices and includes a cryptographically verifiable transaction log.

IBM Cloud

IBM is a leading source of Hyperledger Fabric's source code and is therefore actively involved in providing cloud services and product updates. Recently, IBM has opened its IBM Blockchain 2.0 in multi-cloud, which means that you can run your Fabric network on different cloud providers.

Oracle blockchain

The Oracle blockchain platform relies solely on the Hyperledger framework, which is not ideal, but offers quality services, such as node provisioning, blockchain browser, and security.

VMWare

VMWare has clearly identified the issues that affect the blockchain's current infrastructure. It is working to resolve these issues with Concord, a highly scalable and energy-efficient distributed trust infrastructure that enables consensus and smart contract execution.

In addition to the leading cloud providers, Blockchain as a Service was founded in 2018, which bases its products on existing cloud computing platforms. call them Level 2 BaaS. These are generally smaller and more agile startups, able to offer new products almost every month. This makes them very good choices for a faster marketing strategy. Their solutions are wide and colorful and generally cover different blockchain protocols. They are not yet able to meet most business needs, but they will stay on track and be an attractive option as long as the institution does not disrupt them. The names that stand out in this category are Kaleido and Blockdaemon.

What are the needs of the company from the point of view of the blockchain? Where do we want to see improvements to fully utilize the benefits of decentralized general led technology? Let's separate the main requirements into four categories: platform; interfaces; infrastructure and network; and security and badysis.

Platform

• Operational Resilience – ability to maintain availability and connectivity even when certain components fail, including multiple protection and failover strategies against data loss and corruption.
• Pluggable Consensus – ability to switch the consensus mechanism as needed without rebuilding the entire network.
• Greater capacity for off-line data storage – support for encrypted data storage.
• Adapters allowing SQL-based ledger queries, which will make the developer community wider more comfortable with the use of the blockchain.

Interfaces

• Enterprise Integrations – predefined modules and onramps for existing enterprise systems.
• Robust Oracles – ability to obtain real-time external data in smart contracts. Pay attention to Chainlink.
• Integration with GraphQL, a language developed by Facebook that provides a powerful API to get only the dataset you need in a single application, by seamlessly combining data sources.
• Identity Federation – ability to authenticate with existing identity providers, which will facilitate faster adoption at the consortium level.
• Built-in privacy and authorization features – for transactions, accounts, portfolios, smart contracts and network participants.

Infrastructure and network

• Ability to maintain optimal network performance – manage and operate hundreds of thousands of nodes while maintaining low latency and facilitating hundreds of thousands of transactions with a guaranteed purpose.
• Ability to scale and reduce network size on demand – automatically resize a network by adding / removing more validators or givers.
• DevOps tools to facilitate integration with existing computer systems and to make CI / CD building processes faster and more transparent.
• Support for inter-network interoperability and inter-channel atomic exchange.
• Governance framework with established and predetermined transparent structure, participation rules, funding model and financial incentives.

Security and improved badyzes

• Detailed privacy controls on data, intelligent execution of contracts and visibility of transactions.
• Enhanced network monitoring with enhanced contextual contextuality of transactions, ability to troubleshoot chain events.
• SLA monitoring with upward compatibility of upgrades.
• Store transaction history data, combining it with other off-line data sources and making it available for BI reporting tools and other interactive dashboards.

As stated above, the stack of blockchain technologies still has a long way to go before they are mature enough to be adopted by large companies. This is a perfectly normal process, as software developers and business leaders are transforming their minds from the currently compartmentalised and centralized infrastructure to distributed general led networks. Fortunately, we are at the forefront of this technological revolution and have the chance to contribute to what will one day be the norm.

Presentation of Forbes Blockchain 50: Discover companies investing in technology that will accelerate business processes, increase transparency, and save billions of dollars.