We are extremely excited to announce today a partnership between Coinprism and Microsoft.
Since the launch of Openchain a couple of months ago, we have encountered a lot of interest from institutional players. Though that new partnership, Microsoft will offer the Openchain stack as part of the Microsoft Azure platform.
The model behind Openchain is that anyone is free to deploy their own Openchain instance and become administrator of that chain. The administrator can then define the policy determining how users are able to transact on that chain. It can be configured in many different ways:
- Open-loop, where anyone with a private key can create an account anonymously and start transacting.
- Closed-loop, where users have to be onboarded by the administrator before they can transact. This is an interesting model when KYC regulations apply.
- Anything in-between: For example, anonymous account are allowed, but have less permissions than authenticated accounts.
Unlike permissionless ledgers like Bitcoin, the burden on the user is kept to a minimum: the only thing they need is a light client application. End-users are not required to run their own full nodes. That responsibility is entirely in the hands of the service provider administrating the Openchain instance. This is a more natural model: you don’t have to run a mail server on your laptop to access Gmail, you just need a browser, and it is Google’s responsibility to maintain the infrastructure.
This is where Microsoft’s offering comes into play. Through Microsoft Azure, you can now provision a new chain in the click of a button. The infrastructure is created on demand in Microsoft’s datacenters, and after a few minutes, you will be provided with the URL of your Openchain instance. Microsoft manages the hardware end to end and abstracts it away for you.
The first template offered by Microsoft is a template for a test environment. High availability is not guaranteed, but it can run on the smallest servers, and cost as low as $13 per month. This will give you the ability to handle about 20 transactions per second, which is already enough for many use cases. You can of course provision larger servers if you have bigger needs.
A template with high availability guarantees (99.95% availability) will be provided early next year.