On 7 August 2018, Microsoft launched the Ethereum Proof-of-Authority on Azure. Interestingly, this major announcement didn’t got that much attention which it should have. We have shared the announcement here so that It should not get unnoticed to our BlockchainStocks Community.
Microsoft entered into a new Blockchain-as-a-Service product (which is also called as BaaS) which provides to implement flexible instance of Ethereum for various business communities, custom made to environment of enterprise.
This new Ethereum network algorithm is much better and optimised method of creating Decentralised Application for private or closed group networks. All the participants of the private group will be known and reputable.
This new Ethereum product on Azure will be having many components like identity leasing system, Parity’s web-assembly support, Azure Monitor, and Governance DApp. This is ensure the smooth operations and the security of the system.
Ethereum Proof-of-Authority on Azure has features which are very well suited for the enterprises networks in which participants do not trust each other. Because of this new Ethereum product, It would be become possible for businesses to build the applications on an Ethereum Blockchain which is not secured by Proof-of-Work consensus algorithm and hence it does not require mining.
More details can be obtained in the Blog article of Azure Global Software Engineer, Cody Born – Ethereum Proof-of-Authority on Azure