The concept of a Blockchain-as-a-Service (BaaS) 3.0 platform suggests the best of both worlds – a centralised system of decentralised technology – and that is exactly what YAO Network strives to provide. Launched on 7 May 2019, the innovative platform garnered attention from the media as one of the few to launch a new generation of public infrastructure platform that will function as an ecosystem entry, a computation hub and a service market for blockchain communities.

Despite recent developments in the BaaS sector, BaaS remains far from maturity. Having cycled through two “versions”, many are hoping the increase in demand would spur BaaS to scale up as a sector in order to meet the growing need for a network of blockchain communities. The future platform, BaaS 3.0, should rightfully introduce new technical frameworks with outstanding features for both enterprises and individuals, providing a thriving ecosystem with diversified content for online and offline technology communities. While many platforms are still in the midst of grappling with the transition, YAO Network has been quick to respond to the call and has developed its own blockchain platform to make BaaS 3.0 a reality.

YAO Network aims to be an entry point into the blockchain world, through which developers can access to mainstream blockchain networks and view relevant and updated information for their blockchain projects. YAO Network aims to provide supportive access tools and a great technological interface to facilitate the development of commercial applications, such as the building of an on-demand blockchain network for consortium and private blockchains.

Here is a simple illustration to demonstrate what YAO Network embodies in the larger framework.

To make BaaS 3.0 possible and form a robust ecosystem that integrates commercial application, the tech community and application developers, the YAO Network has designed its platform to serve the following functionalities:

1. Entry Point

YAO Network aims to be an entry point into the blockchain world, through which developers can access to mainstream blockchain networks and view relevant and updated information for their blockchain projects. The YAO Network aims to provide supportive access tools and a great technological interface to facilitate the development of commercial applications, such as the building of an on-demand blockchain network for consortium and private blockchains.

2. Hub

As an entry builder, YAO Network aims to become a blockchain hub that connects developers with existing blockchains or new blockchain networks on-demand to facilitate the blockchain community. To do so, the YAO Network has included many features in its system including distributed identity, off-chain orales, incident feedback mechanism etc. to improve the interoperability and scalability of the blockchain network.

3. Market

YAO Network provides an open Cloud Service Market for service providers to create their cloud services and sell them to terminal users under a visualized operation interface. Such services can be basic services such as access to a blockchain’s underlying framework or advanced services such as function modules and application service components etc.

4. Ecosystem

YAO Network differs from traditional BaaS platforms in that it, unlike the rest, is a self-driven ecosystem. YAO, the value-carrier of the YAO Network ecosystem, encourages users to constantly generate technological services and content on the hub, thereby ensuring healthy growth and development of the whole ecosystem. Ideally, it is expected that the community will take over the reins from the YAO Network team and become the main contributor to the development of the YAO Network platform.

Like time, technology waits for no man. Blockchain technology has already been gaining rapid traction around the globe and it is only a matter of time before the fourth industrial revolution hits, and with it, the mainstreaming of BaaS platforms like the YAO Network. It’s time to join the BaaS 3.0 revolution!