Oracle is now talking out loud on the updates to its blockchain platform cloud service, leveraging its cloud infrastructure, and updates in the way it charges.
“With this release, Oracle advances the Oracle Blockchain Platform to a new level of dynamic scalability, high availability, and quick deployment for enterprise blockchain applications running on Oracle Cloud Infrastructure,” said Frank Xiong, Oracle Group VP of Blockchain Product Development.
“It’s designed and developed to meet our customers’ growing demand for a more resilient, secure, and scalable platform that’s ready for growing workloads of enterprise blockchain applications in numerous use cases across various industries,” he added.
Oracle made a note of how customers are “increasingly” moving blockchain applications into production. Simultaneously, the company needs to increase its capacity so that it can bear the increased transaction volumes.
“This new release responds to their needs with increased resilience and even higher availability, dynamic scale-up and scale-out to handle ever-growing workloads, stronger access controls for sharing confidential information, superior price/performance, greater decentralization capabilities for blockchain consortiums, and stronger auditability when rich history database feature is used in conjunction with Oracle Database Blockchain Tables,” Oracle mentioned in a post.
The release notifies an update to “bring your own license” pricing, which saves customers of Oracle Blockchain Platform Enterprise Edition licenses instead of cloud deployment and enables them to use these licenses instead. One can also find the update feature of automatic deployment and replication of the user’s component across three Oracle Cloud Infrastructure Availability Domains.
Add to it, Oracle has a new feature to offer, i.e., a new blockchain consensus mechanism based on RAFT protocol. It stands for supporting greater decentralization for business networks and allowing multiple participants to run and provide nodes to the network.
Lastly, the release gives out an option to choose between development-oriented Standard SKU and production-grade Enterprise SKU, on-demand storage capacity, on-chain access control capacity to manage access of permissions, operation audit log, history database support, enabling off-chain transaction updates into Oracle Database Blockchain Tables.
For those interested in more information on Oracle, you should go through Oracle’s take on the COVID-19 crisis.