As the blockchain industry continues to develop, many well known companies are beginning to realize how beneficial the technology is. This is why the tech giant, Amazon, has announced that it would be launching a blockchain service that will help clients to develop blockchain networks without paying for creating their own platform. The announcement was made on Wednesday by Amazon at the Invent conference. It was as follows:
“The blockchain based platform by Amazon is going to be fully managed by the technology and make it easy for developers to create blockchain networks that are scalable. The developers will be able to build their platforms using Ethereum, Hyperledger or Fabric.”
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The blockchain-based Amazon platform is going to be a part of Amazon’s Web Services. This is a subsidiary of Amazon that powers a lot of well-known websites and platforms in the world today including Netflix. The announcement continued:
“The Amazon Managed Blockchain is going to eliminate the overhead cost required for the development of a new network. It automatically scales to meet the demands of thousands of applications that perform millions of transactions at any given time.”
Apart from its scalability, the company also claims that the blockchain managed platform can be used to store data on a different database product:
“The managed blockchain can be used to replicate an immutable copy of a developer’s blockchain network into Amazon Quantum Ledger Database. The QLDB is a fully managed database owned by Amazon. This allows developers to analyze the external network activity easily so they can learn about trends and gain insights.”
Keep in mind that the QLDB is not a blockchain platform. However, it will be used with the Amazon blockchain product to maintain a verifiable and complete history of data changes.
Currently, the service is in preview, this means that anyone who is interested in it can sign up and request an approval. If the approval is granted, the developer can create a blockchain network and invite other members of the Amazon Web Services or invite new members to use the multi-member network.