How to Choose a Consensus Algorithm for Blockchain-Backed Services-11.22

Blockchain-as-a-Service comprises providing blockchain infrastructure for a customer, for a fee. The client pays the provider to set up and maintain blockchain-connected nodes and handle a complex backend. There is another working business model related to distributed ledgers where you are paying not for blockchain as it is, but for the services, it provides to the customer. This is exactly how REMChain is built. As a decentralized application developer or private company representative, you don’t need to pay for blockchain maintenance, but for the necessary quantity of blockchain-backed PKI certificates.

Another crucial point that helps you understand what blockchain is: paying for blockchain-backed services, you don’t pay a company that designed the network, but instead pay the network itself. A blockchain’s main feature it that it is community supported, distributed and managed adequately through consensus algo data storage. However, you ideally want the reward distribution to make the network a decentralized and secure place for your information regardless of circumstances. That’s why you need a smart algorithm that will be a guarantee of transparency and correct and reliable behavior of masternodes.

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https://hackernoon.com/how-to-choose-a-consensus-algorithm-for-blockchain-backed-services-6d3ece7fa56?source=rss----3a8144eabfe3---4

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