Amazon announces Blockchain Quantum Ledger and Block Block managed by AWS


Amazon, the retail multinational has recently announced two services that will use blockchain and Distributed Ledger Technology (DLT). Very positive news for the ecosystem as the adoption by a giant like Amazonia will push the blockchain towards mainstream adoption.

The company's official announcement states that Amazon Quantum Ledger Database (QLDB) will be their fully managed accounting database that provides a transaction log owned by a central trusted authority. QLDB will use the SHA-256 cryptographic hash function

in order to guarantee transparency, immutability and high verifiability of the register.

Amazon Quantum Ledger Database

In addition, QLDB keeps track of any change in application data and works to maintain a complete and verifiable record of changes over time. Amazon also states that currently the service only provides an immutable diary only for appends that keep track of all changes. The key features of QLDB recognized by Amazon are transparency, scalability, speed and ease of use. In addition, the database can run two to three times more transactions than current blockchain offers.

Most prevalent blockchain systems use decentralized networks, which require a significant number of network members to reach a consensus on the validity of the transaction. However, QLDB has a centralized design, which allows transactions to be executed quickly without the need for multiparty consent.

Customers on board

Healthdirect Australia and Smaato have been confirmed as customers for Amazon's QLDB. Bruce Haefele, General Manager of Healthdirect Australia, a non-governmental national government organization, said:

"Healthdirect Australia operates in a highly regulated industry and it is critical that our compliance data is correct and verifiable.With Amazon QLDB we do not look forward to having a complete and verifiable chronology of every change in our system, making it easy to verify when and how we arrived at our current state ".

Ragnar Kruse, CEO of Smaato, an important online ad exchange illustrates the advantages of using this service:

"All participants in online advertising and real-time bidding market segments are interested in transparency during the entire lifecycle of an online ad auction, from the initial auction to the a winning bid and, finally, to the delivery of the final impression and to those who actually showed it to ".

In the future, Amazon expects this service to be adopted by financial, manufacturing, insurance, retail, supply chain, human resources and payroll operators.

Blockchain managed by AWS

In addition, the retail giant also launched the blockchain operated by AWS. Aimed at helping businesses create and manage scalable blockchain networks using the two popular open source frameworks, the blockchain service supports both Ethereum and Hyperledger Fabric.

In addition, Amazon Managed Blockchain can replicate an immutable copy of a company's blockchain network activity in the Amazon Quantum Ledger (QLDB) database. This will allow users to analyze various aspects of network activity and keep track of emerging trends with ease. It is expected to scale up to thousands of applications and allow users to execute millions of transactions.

Furthermore, the service is also scalable. It can also be used to manage certificates, invite new members to join the network, and track metrics such as memory usage and storage resources. The AWS Console can be easily navigated by users to configure nodes, add members, or deploy applications. AWS CEO Andy Jassy has recently declared

"This service will make the two most famous blockchain frameworks much simpler." When we heard people say "blockchain", we thought there was their strange convolutation and fusion of what they really wanted, and while we spent time on working with clients and understanding the jobs they were really trying to solve, this is what we think people are trying to do with blockchain. "

What is the next Amazon?

While these new efforts are great, the cryptocurrency ecosystem is looking for the retailer to start receiving cryptocurrency payments soon. It is reported that Amazon has acquired, and in 2017. This has triggered rumors that the encrypted adoption was imminent, however, at the moment, Bitcoin owners are forced to use a intermediate site like to use their cryptographic properties to make purchases on Amazon.

Remaining with tightened lips about such a possibility, Amazon's top brass could also take into account the possibility of an Amazon coin. In 2017, Amazon recorded over $ 177 billion in revenue and their acceptance of the cryptocurrency could easily change a lot for the ecosystem. Together with purchases on the main site, the token could also be used in the Twitch, Audible and Amazon branches such as CreateSpace, Whole Foods Market and Zappos.

The acceptance by high-performance technology actions such as Facebook, Amazon, Netflix or Google would be an important step towards mass adoption.

Great news: Facebook is developing a cryptocurrency for Whatsapp transfers, targeting Indian markets

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