As a positive development for the blockchain community, Microsoft declared its fully managed Azure Blockchain Service in a press release on May 2.
The new BaaS platform will allegedly permit users to construct blockchain applications on a preconfigured network.
As per Frank Shaw, Microsoft’s head of corporate communications, the aforementioned service simplifies the management, formation, and governance of consortium blockchain networks.
Shaw further added that Azure Blockchain Service can construct a new consortium network in a few simple clicks, or let the consumer carry out fundamental operations like adding new members to the network.
Notably, an open source blockchain platform backed by JPMorgan Chase, Quorum is the 1st platform that can be dealt with by means of Azure Blockchain Service. Mark Russinovich, the CTO of Azure, mentioned while explaining the choice, that because it’s built on the well-liked Ethereum protocol, Quorum is a natural choice. As per him, Ethereum has the largest blockchain developer community around the world.
Microsoft Azure launched its blockchain app creation service, Azure Blockchain Workbench, in May 2018. It is to be noted that this platform was also designed to automate various aspects of blockchain-related work. In this case, it is to properly organize blockchain app development by providing easily obtainable infrastructure for the developer.
Furthermore, Microsoft Azure joined hands with Nasdaq, in October 2018. Interestingly, Nasdaq opted to put together Azure blockchain technology with its financial framework with the anticipation that it would pace up transactions.
It is to be noted that the cloud computing wing of retail giant Amazon, Amazon Web Services, launched its own Blockchain as a Service platform dubbed Amazon Managed Blockchain on April 30.