A multinational tech company ‘Microsoft’ has recently announced its new Blockchain as a product ‘BaaS’ that would be employed across industry to implement a flexible business for the enterprise ecosystem.
Yesterday, Ethereum Proof of Authority on Azure announced that it would allow enterprises to build applications using Ethereum blockchain which is not secured by POW algorithm. This would consequently be better suited for the network users that do not trust each other. Microsoft Azure is a cloud computing service created by Microsoft for building, testing, deploying, and managing applications and services through a global network of Microsoft-managed data centres.
As per Microsoft Azure developer ‘Cody Born’
“PoW works great in unknown open networks where cryptocurrency promotes security on the network. However, in private network feature serve as for no value. As all the participants on an enterprise blockchain network are known and reputable, governance can be separated from network operation.”
Stating further he said that this Proof of Authority is a built in DApp feature called the Governance DApp. This built feature would help the participants of the enterprise blockchain network to govern the network or delegate their voting power to others. The Network administrators, in turn, can use on-chain voting to vote on and alter network authorities in a transparent and auditable manner.
To further increase the acceptability of this feature, Microsoft Azure has further integrated its support for smart contracts built using Parity’s WebAssembly (Wasm) toolkit, enabling developers to deal in familiar languages such as C, C++.