Amazon Web Services Announces Blockchain Services

November 28, 2018 / by Angel Reyes

Amazon has contradicted its dismissal of any future involvement in blockchain by announcing the Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain.

The products were announced at AWS re:Invent, describing QLDB’s features of transparency, scalability, speed, and ability to execute two to three times more transactions than existing products.

Amazon QLDB is described as “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.”

The goal is to provide a new class of database that eliminates the need to engage in the complex development effort of building your own ledger-like applications. This ideally makes blockchain creation more accessible and understandable by a wider audience.

The 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,” according to Amazon Web Service’s website.

The program is still in testing mode, but those interested can sign up and have a chance of admittance. People have the capability to design blockchain networks and invite other Amazon Web Service users to join and partake in their virtual network.

Amazon was recently awarded two patents about security of digital signatures and distributed data storage. The security patent discusses “protecting the integrity of digital signatures and encrypted communications.” The data storage system is a grid encoding technique that collects shards and distributes them logically.

As one of the largest online retailers offers blockchain services, we at Crypto.IQ truly see the widespread implementation and effects of the technology. Whether or not people want to be involved in blockchain, it’s likely it will impact their lives in some way or another.