Block-Cloud: The new paradigm of Cloud Computing

Abstract

Distributed Ledger Technology (DLT), also known as „Blockchain”, represents a new paradigm in how applications are designed and built. Even thoughthe blockchain emerged as a consumer-focused technology (form Bitcoin), it’s adoptionin the enterpriseenvironment has increased dramatically in the last years. The user’sfocus on privacy, security and transparency has motivated corporations to invest in distributed applications throughout their structure and operations. The main frameworks for enterprise blockchain solutions are coming from well established IT&C corporations like Microsoft (partnership with Ethereum), IBM (Hyperledger Fabric), JP Morgan (Quorum) and others.The blockchain technology is pretty new, and it cannot fully replace legacy centralized cloud-based solutions. The scalability issue of DLT is well-known, as the most advanced blockchain technologies can only process a few hundred transactions per second. This is nowhere near the speed of Visa’s payment system that can process more than 2000 transactions per second.