Microsoft Shakes Hands With Blockchain Venture ConsenSys to Develop Ethereum Blockchain-As-A-Service Products

November 9, 2015     By : Kate

American multinational technology company Microsoft entered the domain of bitcoin by partnering with ConsenSys, a blockchain venture. Both the companies will be working to develop new Ethereum blockchain-as-a-service products and new tools for Microsoft’s cloud-based service platform Azure. According to the press release, the flagship offering will include BlockApps Strato and Ether.Camp, and will be released at the Ethereum developers conference DEVCON1 on November 10, in London.

Marley Gray, Director of Technology Strategy, US Financial Services at Microsoft, said in the press release, “Microsoft is excited to team up with ConsenSys for in Azure’s lead offering of Ethereum Blockchain-as-a-Service. Our enterprise clients will have the ability to deploy private and semi-private or consortium blockchain networks, as well as public Ethereum nodes with a single click on Azure. Through BlockApps Strato and Ether.Camp we’ll have developer tools and applications so enterprise can begin to understand the power behind blockchain technology.”

The partnership will allow businesses everywhere to deploy private and semi-private or consortium blockchain networks, as well as public Ethereum nodes with a single click on Azure.

Andrew Keys, Director of Enterprise Business Development relayed in the release, “A relationship between ConsenSys and Microsoft Corp. solidifies our position to offer scalable enterprise blockchain solutions. We’ve found Azure to be an efficient and powerful cloud to deploy our offerings and are looking forward to further collaboration with Microsoft. The initial offerings of BlockApps Strato and Ether.Camp will serve as foundational protocols and tools for developers to create blockchain applications immediately.”

Consensys is a blockchain venture production studio building decentralized applications & foundational tools based on Ethereum. The company is based in New York and is also building open industry platforms, including an open music platform and an open energy platform. The group’s core components are things like token issuance and management, registry systems, reputation systems, persona systems, etc.

What is Ethereum?

According to a white paper, the intent of Ethereum is to create an alternative protocol for building decentralized applications, providing a different set of tradeoffs that will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important. it is different from the traditional bitcoin-based blockchain as it uses a different token called the “Ether” which allows for greater flexibility of use within a given enterprise application. Ethereum does this by building what is essentially the ultimate abstract foundational layer: a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats and state transition functions. Ethereum supports smart contracts, which are user-generated programs designed to execute a predetermined set of commands (agreed to by all parties) using a Turing-complete programming language.

Kate

Kate is a staff writer at LetsTalkPayments.com.
She likes to write about mobile payments and mobile commerce.

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