Microsoft will launch the Ethereum consortium chain network, and one-click deployment of private chains will become a reality

According to foreign media reports, Microsoft is about to enter the next stage of blockchain development and has announced that it will officially launch the Ethereum Alliance blockchain network.

Microsoft hopes that if the project is successful, it will help industries work together and better leverage the network effects of shared, immutable ledgers, making it easier to build complex alliances.

Usability will therefore be a key focus for the Ethereum Alliance blockchain network, which is designed to allow groups to deploy a private Ethereum network with the click of a button.

It is reported that earlier this month, Microsoft released the code of the alliance chain on Github, with simplified setup process and new features as its highlights. So far, Microsoft has focused its main efforts on its Azure cloud products and enterprise business market.

Marley Gray, chief architect of Microsoft Azure, told reporters:

“We focus on building sandboxes for developers, developing and testing technology portfolios with customers and partners, and ultimately helping customers choose the right tools to solve specific business problems.”

In addition to one-click deployment, the update includes five new tools that the project’s managers say are designed to enable consortium networks to develop more complex smart contracts for any number of self-executing business applications.

Perhaps most importantly, based on early feedback from customers, Avanessians said the Ethereum consortium blockchain network automatically creates users’ private keys to meet security requirements.

Avanessians told CoinDesk:

“You no longer need to generate and provide a private key. The private key is automatically generated from your password, which further simplifies the prerequisites.”

Market and competition

Microsoft’s Ethereum consortium blockchain network is arguably the latest development in the blockchain industry, with Microsoft’s biggest direct competitor being IBM, which launched its own competing service in July.

In addition, Deloitte also entered the blockchain market earlier this year and provided services for building blockchain alliances.

In May, Microsoft Azure’s chief technology officer told CoinDesk that the company’s overall goal is to help global enterprises build blockchain consortiums.

So far, most blockchain alliances have come from the financial industry, but Microsoft believes that all industries will follow suit in the future.

Today, blockchain alliances are popping up all over the world, including China, Japan, Russia and other countries. In recent months, financial institutions have established their own blockchain alliances.

Service Fees

While financial figures for the emerging industry are hard to come by, Microsoft's BaaS sandbox fees are currently public.

It is reported that the monthly fee for using the basic amount of virtual machines required by the blockchain platform is about $14 at the lowest and about $90 at the highest. Then there will be a fee for the number of IP addresses ($2.98 per month), and finally a fee based on the number of transactions ($0.0036 per unit).

Support options range in cost from a free introduction to professional-level support for up to $1,000 per month.

Initially, anyone can try out the Ethereum consortium chain network for free, but Gray said that in the long run, the service will charge users a fee and then host the entire network in Microsoft's Azure cloud computing environment.

At present, Microsoft has not disclosed the companies using the alliance chain product, but Gray said that some customers are already using this service and more details will be announced in the future.