Amazon Entered Blockchain Technology

Amazon Has Launched a New Service for Building Blockchains

In this continuously developing blockchain industry, one more tech giant has entered. Yes, Amazon has
launched a new service for building Blockchains. In this revolutionary technology, many well-known
industries have started realizing how beneficial this blockchain technology is so this is the reason Amazon
has entered the Blockchain industry with its new service. In other words, it will help clients for developing blockchain
network without even paying for their own platform and making it a reliable choice for the users. So can you buy on Amazon using Bitcoin or not.

Amazon Entered Blockchain Technology

At the Invent conference, Amazon made this announcement on Wednesday, November 28, 2018. It is as:

“The blockchain technology-based platform by Amazon is going to be managed by this technology because this step makes it easier for the developers in creating blockchain networks that prove scalable. The developers will be capable to create their own platform using Ethereum, Fabric or Hyperledger.” The blockchain technology based Amazon platform is going to be the main part of Amazon`s Web Services and AWS is a subsidiary of Amazon that empowers a lot of well-known websites and platform in the world including Netflix. Amazon’s cloud computing subsidiary powers such websites and services and it is really result-oriented.

Announcement Made by Amazon

The Amazon based platform will use blockchain technology and this will make easy for the developers to
the create blockchain network and It will also help to build a platform using Hyperledger Fabric or Ethereum. The Amazon Managed Blockchain will eliminate the overhead cost required for the development of a new
network. It also scales to meet the demands of other applications that perform million of the transaction
at any given time.

The further company announced that the Blockchain platform can store data on another database
product.

Amazon Quantum Ledger Database (QLDB)

“Managed Blockchain technology can reproduce a permanent copy of blockchain network activity into
Amazon Quantum Ledger Database (QLDB). After all, It is an Amazon’s ledger database. In other words, this helps you to easily evaluate the network activity outside the network and help to gain insights into trends."

In addition to it, It is important to be aware that the QLDB is not a blockchain platform. Therefore, we can use it in conjunction with Amazon`s blockchain product to maintain a complete and verifiable history of data changes.

QLDB is an external version of a service and Amazon built it to track transactions for easier operation. A relational database was not helpful to the company so built its own product and now it is taking to market. In addition to it, AWS customers can run the two most popular blockchain frameworks- Hyperledger Fabric or Ethereum but also using another new product- Amazon Managed Blockchain.

Additional Information of Amazon Services

Amazon claims that product allows users to manage and set up a scalable blockchain network with just a
few clicks. This service removes the cost of creating the network and scales to meet the needs of multiple apps of transactions.

In addition to it, this service is currently in preview and experimental stage. Interested user can sign up for this
service. After approval of this service, they will create a blockchain network. this point, they can invite
other Amazon Web Services members or create more members to simulate a multi-member network.

Conclusion

In conclusion, Amazons have stepped in revolutionary technology. The news that popped up is that “Amazon has launched a new service for building Blockchains.” Therefore, this will help mobilize the resources in a very
constructive way to provide the best service to the people. In other words, as Amazon has already produced some of the best technology in other areas and above all, we can expect that this will also help in the Blockchain revolution.

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