Amazon Debuts Two Blockchain Products

Amazon Debuts Two Blockchain Products

Amazon has announced the launch of two new blockchain-related services: Amazon Managed Blockchain and Amazon Quantum Ledger Database (QLDB). The debut of these services was contained in a press release shared by the company.

The QLDB is a ledger database designed to provide a log of transactions that are transparent, cryptographically verifiable, and immutable. In addition, a central trusted authority would be in charge of overseeing the log of transactions. Any changes to the database would be recorded on the blockchain, while “the new product is also able to automatically scale and execute two to three times more transactions than already existing products.”

The CEO of Amazon Web Services (AWS), Andy Jassy, is reported to have said that “the product will be really scalable, you will have a much more flexible and robust set of APIs [application program interfaces] for you to make any kind of changes or adjustments to the ledger databases.”

Amazon also elaborated on the description of the QLDB on the product’s website: “With QLDB, your data’s change history is immutable – it cannot be altered or deleted – and using cryptography, you can easily verify that there have been no unintended modifications to your application’s data.”

As for AWS’ Managed Blockchain product, the online retailing giant announced that the product can function with QLDB while letting users “adjust and manage a scalable blockchain network.” The product also “automatically scales depending on the needs of specific applications,” and can be deployed to manage certificates, trace metrics such as storage and memory resources and computer usage, and also invite new users to the network.

It will be recalled that early this month, Amazon won two patents related to methods for improving the storage of distributed data and the protection of digital signatures’ integrity. The first patent proposes “a grid encoding technique for distributed data storage by using groups of collected shards, where each shard represents a logical distribution of data items stored in a given grid.” The second filing outlines a method for “signature delegation” that would protect “the integrity of digital signatures and encrypted communications.”

In this month also AWS and Kaleido, a ConsenSys’ blockchain startup, launched the “Kaleido Marketplace,” a full-stack platform that aids enterprises in implementing blockchain solutions.

In conclusion

Amazon has unveiled two new services that are blockchain-related, namely Amazon Quantum Ledger Database and Amazon Managed Blockchain. While the QLDB is designed to “provide transparent, immutable, and cryptographically verifiable log[s] of transactions that will be overseen by a central trusted authority,” the Amazon Managed Blockchain will work with the QLDB to help its users manage and adjust to a scalable blockchain network.

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