Wallet-as-a-service vs Blockchain-as-a-service: Everything You Need To Know About Them

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Today, blockchain-as-a-service (BaaS) and wallet-as-a-service (WaaS) are two effective approaches for businesses to manage their digital transactions and buy crypto. BaaS, a third-party service, helps business owners to manage blockchain-based networks by using cloud technology. WaaS, on the other hand, is a wallet solution that doesn’t require you to run any blockchain nodes.

In the rest of this post, you’ll discover the difference between wallet-as-a-service and blockchain-as-a-service. This will also include how to pick the better service for buying, storing, and staking crypto.

What is wallet-as-a-service (WaaS)?

As a business owner, wallet-as-a-service can help you attract more customers to your business. It’s a blockchain infrastructure product that allows you to give your customers a better way to interact with your business using digital assets and cryptocurrency.

Today, many organizations and businesses consider WaaS for crypto payment because of the many goodies this service offers. One of its biggest advantages is that it doesn’t require you to run any blockchain nodes. This is a good thing for none programmers looking for the best wallets to buy crypto and perform other essential digital transactions.

Benefits of WaaS

  • No blockchain nodes

One good thing about WaaS is that it doesn’t require you to run blockchain nodes. No doubt, every business that operates with cryptocurrency needs to communicate with blockchain to perform various buying and selling transactions. Traditionally, this communication is possible with the help of “blockchain nodes,” which act like a server that manages and maintain the blockchain.

Unfortunately, running your blockchain nodes is very expensive. That aside, it also requires you to go through a learning curve. Here’s where WaaS comes into play. With Escrypto or any other MPC wallet provider, you’ll get wallet-as-a-service and be able to bypass all issues related to blockchain nodes.

  • Faster deployment 

Another edge that WaaS has over the BasS crypto payment option is its ability to deploy very fast. One thing you need to understand about blockchain-as-a-service is that it requires you to create a wallet infrastructure. Unfortunately, this requirement is very expensive and time-consuming. It also requires you to have the right programming knowledge to run blockchain nodes.

The interesting part of using WaaS, such as MPC wallet, is that it doesn’t take time to deploy. Unlike BaaS, which can take months, WaaS can deploy quickly within hours.

  • Scalability & Security

Two other factors that give wallet-as-a-service the edge over its crypto payment counterpart are “scalability” and “security”. How is this possible?

Like building your wallet with blockchain nodes, scaling your crypto wallet also requires a lot of time and money. With a reliable WaaS or MPC wallet provider, you’ll get ready-made infrastructure to scale your wallet as you want.

Security is another good reason to consider WaaS over BaaS. With the right WaaS infrastructure, such as the one offered by Escrypto, you’ll get different security tools to protect your wallet when performing any crypto payment transactions. Escrypto has theft protection and many other unmatched security features to help you monitor and secure your blockchain transactions.

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