The integration between blockchain and cloud computing – which refers to the use of network servers to store, manage and process data – is expected to ensure better data security. Cloud computing can support blockchain, as cloud platforms have the resources to build, onboard, operate, scale, monitor, and troubleshoot blockchain networks natively, Raj Srinivasaraghavan, CTO, SecureKloud Technologies, a software company, said. According to Gartner, a management consulting company, blockchain will generate $3.1 trillion in new business value by 2030. In a conversation with FE Digital Currency, Srinivasaraghavan talks about the connection between cloud computing and blockchain, and how it can benefit Indian companies.
What is the connection between cloud computing and blockchain?
I believe that blockchain and cloud computing go hand in hand. Blockchain needs to have a secure infrastructure, which can be offered by cloud computing, through which organisations can detect and remove vulnerabilities. Advanced programming softwares such as Kubernetes, gRPC based deployments, Service Meshes, Ingress Controllers, external standard certificate authorities based certificate deployments, Key Management Systems, Network and Application Load Balancers, distributed databases, NoSQL, among others, have been tried and tested in cloud protocols for use in blockchain.
How does cloud computing help blockchain based businesses?
We need databases for blockchain to work. Blockchain cannot work without nodes, which keep track of the network, to host smart contracts for enterprises to execute use cases. As nodes get added on to the network, their management and monitoring require the expertise of cloud computing. Cloud computing can ensure blockchain is available for businesses, even if there are an unexpected amount of transactions at any point of time.
Why should people use blockchain based cloud computing?
Cloud computing can help segregate resources based on a network boundary layer, which is a computing framework to process client’s data close to the originating source, to help deploy and secure blockchain. Components such as hardware and software, that users need in order to avail blockchain, are available through cloud computing. Furthermore, blockchain based cloud computing can help people in sectors such as education, healthcare, finance, among others.
What are the challenges faced by blockchain platforms which use cloud computing?
I believe blockchain platforms which try to augment cloud computing face issues such as deployment of cloud as a neutral source that can run on any server, and addition of different blockchain components into a single network. A cloud computing setup should be bootstrapped for sufficing blockchain needs.
How will blockchain based cloud computing benefit Indian companies?
Indian blockchain companies can use cloud computing to avail the features of security, scalability, availability, flexibility, extensibility, monitoring, interoperability, and native container support.
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