Tech Giant Amazon Unveils Two New Blockchain Services: Managed Blockchain and Quantum Ledger
As tech companies across the globe are spearheading their developments in the blockchain space, Amazon is stepping the game further. At the AWS re:Invent, the company’s strongest business division Amazon Web Services announced the launch of two new blockchain offerings.
Amazon Managed Blockchain: Easy Way to Create Scalable Blockchain Networks
While blockchain holds a huge potential, creating a blockchain network requires high-end technical expertise that comes at a cost. Hence blockchain is often said to be out of reach for small and medium scale enterprises. To change this, big organizations are developing frameworks to make it easy for other players to launch their scalable blockchain networks. The Amazon Managed Blockchain is one such similar attempt.
“Amazon Managed Blockchain is a fully managed service that makes it easy to create and manage scalable blockchain networks using the popular open source frameworks Hyperledger Fabric and Ethereum,” says that company.
Thus the Amazon Managed Blockchain helps to eliminate all the overheads in creating a network. Furthermore, it notes that the network “automatically scales to meet the demands of thousands of applications running millions of transactions”.
Also, the Amazon Managed Blockchain has a voting API system which allows existing network members to add/remove members. Using this simple API call, customers can add more capacity to the blockchain network as application usage grows. Amazon Managed Blockchain also facilitates its users to perform different combinations of compute and memory capacity. Hence users can choose the right mix of resources required for their blockchain applications.
Rahul Pathak, General Manager, Amazon Blockchain at AWS said: “Many of our customers want to build applications where multiple parties can execute transactions without a central, trusted authority, and they also need to create a blockchain network. Building a scalable blockchain network with existing technologies is just too hard today, and that’s why customers pay expensive consultants to help them.”
Mr. Pathak further added: “Amazon Managed Blockchain eliminates the muck involved in setting up a network, adding and removing members, and scaling to meet application demands. Customers can use either Ethereum or Hyperledger Fabric, the two most popular blockchain frameworks, and get a functioning blockchain network set up with just a few clicks.”
Amazon QLDB: A immutable, cryptographically verifiable, and transparent ledger database service
As described by the company, ”Amazon QLDB is a fully managed ledger database that provides a transparent, immutable, and cryptographically verifiable transaction log owned by a central trusted authority. Amazon QLDB tracks each and every application data change and maintains a complete and verifiable history of changes over time.”
Other important features of QLDB include, ease of use, transparency, and flexible scalability as per the requirement.
The company notes: “QLDB is easy to use because it provides developers with a familiar SQL-like API, a flexible document data model, and full support for transactions. QLDB is also serverless, so it automatically scales to support the demands of your application. There are no servers to manage and no read or write limits to configure. With QLDB, you only pay for what you use.”