Amazon Launches New Service For Blockchain

Nishanth Shetty

November 29, 2018 12:08 pm

Blockchain News

Amazon Launches New Service For Blockchain | Coindelite News
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Amazon, one of the most popular technology companies in the world has announced its new platform that is based on the blockchain technology. According to the reports, the company is launching a blockchain service which helps customers develop blockchain networks without sustaining the costs of creating their own platform.

The announcement was made at Amazon’s re:Invent conference. According to the statement, the Amazon Managed Blockchain platform is a fully managed service which users can easily use to create and manage scalable blockchain networks. Users can also build platforms using either Hyperledger Fabric or Ethereum. Amazon said that the blockchain platform could store data on other database products.

The new blockchain platform is another feature of Amazon Web Services. It also includes Amazon’s cloud computing subsidiary that supports a large number of websites and services such as Netflix.

The new platform’s website says that it can reduce the overhead required to create the network. It also meets the demands of thousands of applications running millions of transactions.

The company said:

“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 analyze the network activity outside the network easily and gain insights into trends.”

The company also detailed that QLDB is not a blockchain platform. But it can be used to maintain a complete and verifiable history of data changes.

As of now, the service is in the preview phase, and enthusiasts can sign up. If approved, they can create a blockchain network where they can either invite Amazon Web Services members or create more members in their account to have a multi-member network.

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