Cryptocurrency analysts are already calling it the greatest and most powerful blockchain endorsement of all time. Microsoft just released its earth-shaking Ethereum on Azure without fanfare. This is their brand new BaaS Blockchain as a Service platform. It enables businesses to customize and utilize individualized Ethereum blockchain networks.
Microsoft unveiled this new product on a blog post. Now businesses and consumers can construct and deploy dApps. These decentralized apps can be utilized on both consortium and private networks.
The software giant decided to go with a PoA (Proof of Authority). Consequently, this lets them provide a most efficient option that does not require any mining. The company is going after permissioned blockchain deployments with the service. PoA gives individuals the ability to validate blocks and transactions without needing the competitive and also resource consuming mining process.
Ether Gets Its Much Needed Boost With Microsoft’s Unqualified Endorsement
Ether (ETH) has long been under a growing, potent threat from a host of rival smart contract platforms. A range of these were moving nearer to overtaking the silver standard of cryptocurrencies. Now Microsoft has provided ETH with the second lease on life it needed so desperately.
It is true that Ethereum crushes its competition in terms of the behemoth $36 billion market cap it commands. Yet NEO, Zilliqa, and EOS have also expanded up to processing transactions in the thousands per second level. This is enough to cause fear in Vitalik’s Ethereum team.
Ethereum had been struggling to come up with solutions to address the platform’s inherent weakness of scalability problems. This Microsoft endorsement has just changed the stars for them. The computing giant has provided Ethereum with an absolutely unstoppable advantage in getting first to both consumers and also businesses now. This should change the fate of the second greatest cyrptocurrency and original altcoin forever. It gives them a crushing edge over their altcoin rivals. Even with this enormously potent sponsor in Microsoft, Ethereum’s token price continues to fight lows not witnessed since last November.