Abstract
A Blockchain is a distributed database or ledger of validated and verified records of transactions and exchanges executed between shared parties participating in the chain. Blockchain is intrinsically the technology that enables decentralized cryptocurrencies like Bitcoin and Ethereum. Recently, Public Cloud providers like Microsoft (Azure), Amazon (AWS) and IBM have moved to provide service platforms to enable enterprises, governments and consumers to build and deploy secure Blockchain networks. From common themes like: cost, performance, scalability, identity, privacy and security, this thesis aims to qualitatively evaluate the effect of block chain technology on public cloud offerings, and vice-versa. A Cloud environment is not necessarily needed to participate in a blockchain. However, the use of cloud computing makes participation much easier and seamless than conventional, on-premise solutions. A blockchain networks a large number of nodes, and is only as strong as its weakest link. Cloud computing helps to address potential issues of scalability, security consistency and performance. In evaluating the role of the Cloud in the ease of blockchain integration, this thesis would also address areas where concerns like cost could help drive more dynamic cloud offerings, and where the Cloud could play a part in driving blockchain adoption.
Description
Thesis: S.M. in Engineering and Management, Massachusetts Institute of Technology, System Design and Management Program, February, 2021
Cataloged from the official version of thesis. "February 2021."
Includes bibliographical references (pages 77-79).
Department
Massachusetts Institute of Technology. Engineering and Management Program
Publisher
Massachusetts Institute of Technology
Keywords
Engineering and Management Program., System Design and Management Program.
FAQs
Blockchain-as-a-service (BaaS) is the third-party creation and management of cloud-based networks for companies that build blockchain applications. These third-party services are a relatively new development in the growing field of blockchain technology.
What is the relationship between blockchain and cloud computing? ›
Data in the category of blockchain records is irreversible, but cloud computing data is modifiable. The blockchain prevents data tampering without depending on a centralized authority recognized by a third party, but the cloud does not ensure complete security or encrypted data.
What are the advantages of blockchain in cloud computing? ›
In cloud computing, blockchain technology provides secure data sharing, decentralized storage, enhanced network control, and data integrity. It enables task scheduling, data management, seamless connectivity, and a tamper-proof-transparent ecosystem.
What is the difference between a cloud computing service and a blockchain-as-a-service mcq? ›
The Difference
Blockchain is an advanced technology that keeps record of digital assets, but does not necessarily provide any services. Whereas, cloud computing offers three types of services, including Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS).
Can blockchain replace cloud computing? ›
While blockchain offers unique capabilities, it is unlikely to replace traditional cloud computing entirely. Instead, these technologies are likely to coexist, with each serving specific use cases and complementing the other's strengths.
What is an example of a blockchain in the cloud? ›
Blockchain-based cloud computing enhances supply chain management by reducing fraud, waste, delays, and inaccuracies. For example, a blockchain-powered seafood supply chain ensures transparency and traceability at every stage, benefiting regulators and consumers.
What are the disadvantages of blockchain in cloud computing? ›
What Are The Disadvantages Of Blockchain Technology ?
- Private keys. The blockchain network maintains its high level of security through private keys. ...
- Possibility of disruption of network security. ...
- High costs of implementation. ...
- Inefficient mining process. ...
- Environmental impacts. ...
- Storage problems. ...
- Anonymity. ...
- Immutability.
Which cloud platform is best for blockchain? ›
Microsoft Azure Blockchain is best of cloud basis Blockchain service. No need server.
Is blockchain stored on the cloud? ›
Blockchain storage is a way of saving data in a decentralized network, which utilizes the unused hard disk space of users across the world to store files. The decentralized infrastructure is an alternative to centralized cloud storage and can solve many problems found in a centralized system.
What are the three major benefits of blockchain? ›
What are the benefits of blockchain? The benefits of blockchain are increasing trust, security and transparency among member organizations by improving the traceability of data shared across a business network, plus delivering cost savings through new efficiencies.
Some key benefits of using Blockchain-as-a-Service include enhanced security, increased transparency, streamlined operations, cost savings, and scalability.
How are cloud and blockchain inextricably linked? ›
A Cloud environment is not necessarily needed to participate in a blockchain. However, the use of cloud computing makes participation much easier and seamless than conventional, on-premise solutions. A blockchain networks a large number of nodes, and is only as strong as its weakest link.
What is a blockchain primarily known for? ›
A blockchain is a distributed database or ledger shared among a computer network's nodes. They are best known for their crucial role in cryptocurrency systems for maintaining a secure and decentralized record of transactions, but they are not limited to cryptocurrency uses.
Which of the following is not an advantage of a blockchain system? ›
Answer: In summary, while blockchain offers benefits such as fewer errors, greater transparency, immutability, and lower costs, it does not typically provide the benefit of "less traceability."
Which of the following is important for blockchain? ›
In conclusion, database security, auditing, and planning are important aspects of blockchain technology.
What is considered a cloud service? ›
Simply put, cloud computing is the delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale.
Is A VPN a cloud service? ›
A cloud virtual private network (cloud VPN) is a form of technology designed to help users access their organization's applications, data, and files through a website or an application. Unlike traditional or static VPNs, a cloud VPN provides a secure connection that can be rapidly deployed globally.
Is blockchain stored in the cloud? ›
Blockchain storage is a way of saving data in a decentralized network, which utilizes the unused hard disk space of users across the world to store files. The decentralized infrastructure is an alternative to centralized cloud storage and can solve many problems found in a centralized system.
Is data as a service a cloud service? ›
Data-as-a-Service definition
Data-as-a-Service is a cloud-based data management software tool that delivers data storage, integration, processing and analytics via a network.