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Cryptocurrencies

Amazon announces blockchain and distributed ledgers-based services

Thursday 3 January 2019 | 02:25 PM CET

Amazon has announced two new services, Amazon Quantum Ledger Database (QLDB) and AWS, based on blockchain and distributed ledgers.

The latest QLDB makes use of cryptography in order to make sure that the log is a transparent, unalterable, and certifiable. However, the company officials revealed that as of now this service can only provide an append-only irretrievable journal which is maintaining the track of all records in the database.

The Amazon Managed Blockchain is even capable of replicating an unchangeable copy of the blockchain network Amazon activity within the Amazon Quantum Ledger Database (QLDB). The usage of blockchain technology also facilitates analyzing the shift in the trends of the market as well as identifying suspicious activities. In addition to this, it can also be used for the invitation of new members for joining, managing certificates, storages and tracking memory usage.

Amazon is even planning to integrate this ledger form into its core operations, which might move towards the incorporation cryptocurrency payments as well.

Amazon Web Services, the ecommerce giant’s cloud computing department is going to let their clients create their own cloud-based blockchains. It can be done with the help of using Ethereum or Hyperledger Fabric.

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