VeChainThor Primer: VeChain vs private chains
While VeChain is one of the most established enterprise focused public #Blockchains out there, there are several private chain alternatives vying for the same share of pie. The most common argument I see online is that enterprises have no use for a public chain. However, a private chain comes with its own pitfalls. This article attempts to throw some light on the advantages of VeChain over the private alternatives.
Firstly, just because a private chain has no crypto token doesn’t mean it’s free to use. There are ALWAYS expenses involved while using commercial solutions and the customer pays for them one way or the other. Let’s examine some of the costs involved in a private chain.
The chain itself may be free and even open source, but it’s only the base layer infrastructure. To implement it for your workplace, the company behind will charge a one time cost plus an SLA for maintenance. Next you need to set up the nodes. Hardware, networking, peripherals… Or maybe, just use the cloud instead?
Ok, you decide to host your nodes on #AWS/ #Azure etc. now you have two service providers and contracts to deal with. For the chain and for the IaaS provider. Ok, now the chain is set up, but there’s no GUI for you to interact with.
No problem,the chain provider will develop a custom GUI for a fee. How can I make the chain connect to my #ERP and #CRM? Again,the chain provider will build the interfaces for a fee! #RFID/ #NFC/ #QR data points?They‘ll refer you to their partner who needs another contract to set it all up!
Want custom features such as attaching PDFs? Again, for a fee plus per usage costs.Need an app for the end user?Again, developed for a fee. Monitoring the nodes and their health? Another fee. Need an assurance layer on top? Train your auditor to use your custom implementation.
Several contracts, bags of money and months later, you have something that’s not immutable and needs more upkeep than an #RDBMS. Or, you could sign up for #ToolChain, use Blockchain as a Service, and be up and running in weeks, not months.
Not to mention, having a private blockchain where all the nodes are controlled by your own company is no better than having your own RDBMS. There is no data #Immutability and no #Finality of transactions. Not to mention, the sheer complexity of integrating external partners. Remember, a supply chain is made up of several companies working together to deliver a product, not a singular entity.
To understand how VeChain Foundation enables companies to use #Blockchain without having an in house development team, read this:
To know more about how the upcoming PoA2.0 consensus model brings immutability and finality to VeChainThor that no private chain can match, read this:
VET/ VTHO Tip Jar: 0x22e0820aC11F093e317446458f79C11CFaf58084
