How to implement blockchain in a business or startup?

Blockchain as a service (BaaS)

The popularity of blockchain has driven a lot of tech giants towards blockchain as a service (BaaS). BaaS is when a third-party service provider installs and maintains blockchain for a business. It is an ecosystem managed and administered by cloud-based service providers.

BaaS has gained significant attraction after the success of bitcoin. It can resolve complex issues cost-effectively and straightforwardly. It is a good option for small to medium-scale businesses as it saves the extra cost of hiring developers and developing blockchain data structures on their own. 

Several hosting providers and tech giants now provide dedicated to integrated BaaS services. There are chances that your hosting provider most probably has an integrated plan in place for you. 

Blockchain platforms 

If you decide to build a blockchain-based application on your own, blockchain platforms will come in handy. They have built-in blockchain data models and frameworks, allowing developers to create and host applications on the blockchain.

However, it is essential to select the most suitable platform depending upon your requirements. Some blockchain platforms with the built-in framework are Ethereum, Hyperledger, R3, and Ripple. 

Several factors determine the most suitable blockchain platform for your business.

1. The development status of the platform

2. The type of blockchain required

3. The set of languages that the platform supports

4. The functionality of the platform

5. The popularity of the platform

6. The scale of solution required