Microsoft Presents New Ethereum Blockchain Based Product
Software giant Microsoft has developed a new product Blockchain as a Service (BaaS) that allows businesses across industry verticals to deploy a flexible instance of Ethereum tailored specifically for enterprise environments.
As announced on Tuesday, Ethereum Proof-of-Authority on Azure allows businesses to create apps on Ethereum blockchain that works without Proof-of-Work (PoW) algorithm and consequently does not require mining — features that are better suited for networks in which participants do not trust one another.
PoW algorithm «works great in anonymous, open networks where cryptocurrency promotes security on the network», — said Cody Born, a software developer of Azure Global. «However, in private/consortium networks the underlying ether has no value».
Born explained that since there are no anonymous blockchain network participants, governance can be separated from network operation.