E-commerce giant, Amazon has launched a two blockchain service, Quantum Ledger and Managed Blockchain that will allow AWS clients to set up scalable blockchain platform without the need for developing their own platform.
The Amazon Managed Blockchain platform will be a fully managed service that makes it easy to build and manage scalable blockchain networks. Clients can either build the platform using Hyperledger Fabric or Ethereum. The Ethereum option is not available yet but will be added soon.
The AWS website added:
“Amazon Managed Blockchain eliminates the overhead required to create the network, and automatically scales to meet the demands of thousands of applications running millions of transactions.”
The Amazon Quantum Ledger Database (QLDB), is designed to provide a transparent, immutable and cryptographically verifiable log of transactions, and can be overseen by a central trusted authority. All changes are recorded on the chain and the new product is able to automatically scale and execute two to three times more transactions than existing products.
“Managed Blockchain can replicate an immutable copy of your blockchain network activity into Amazon Quantum Ledger Database (QLDB), a fully managed ledger database. This allows you to easily analyze the network activity outside the network and gain insights into trends.”
AWS CEO Andy Jassy said at the company’s re: Invent conference in Las Vegas:
“We don’t build things for optics. AWS only spends resources on something when they “understand the problem” and said, “this is something that a lot of companies need.”
Amazon is recent time is spending significantly on R&D in blockchain technology and has already leveraged Ethereum on its cloud network. Earlier this month, Amazon has won two patents based on blockchain technology. The first one, “signature delegation” method for “protecting the integrity of digital signatures and encrypted communications.” and the second one is “grid encoding technique” for distributed data storage by using groups of collected “shards”.
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