AWS announced Quantum Ledger Database (QLDB) and Amazon Managed Blockchain.
Different service for different needs
Amazon Web Services, the Amazon.com cloud computing subsidiary, has introduced two new blockchain-based service offerings targeting different categories of customers.
The first service, called the Quantum Ledger Database (QLDB), is a transparent, immutable and cryptographically verifiable ledger designed for functions such as supply chain, finance, manufacturing, insurance and human resources that require a central and reliable authority.
The second offering is called Amazon Managed Blockchain and allows customers to create and manage networks using the Ethereum or Hyperledger blockchains. Both services will help companies perform business transactions that require a check-out.
This offer is suitable for those use cases that require a centralized and immutable ledger that records transactions. Examples of such use cases include tracking an item through the supply chain or tracking credits and debits in banking transactions.
The ledger is owned by a single entity in the organization and can be shared with any number of organizations or stakeholders who are working together.
QLDB eliminates the need for customers to create complex verification features in a relational database or to rely on a public blockchain register. It uses an immutable transactional registry called journal, which tracks every change in application data and maintains a complete and verifiable chronology of changes over time.
Shawn Bice, Vice President, Database Unrelated to AWS, said:
At the start of this year, when we started talking to customers about what they needed from a blockchain solution, we realized that Amazon QLDB's registration technology fulfilled many of their needs. They wanted a central property ledger that provided an immutable way to record the transaction history of their applications and was transparent to all the parties they interacted with. So today we are offering an immutable, transparent and cryptographically verifiable ledger based on the same AWS teams have used for years on a large scale as a fully managed service.
Some clients need the immutability and verifiable ability of a ledger and multiple stakeholders to make transactions without the need for a reliable central entity. In order for customers to commission the authorized blockchain infrastructure it requires not only time but also resources.
Amazon Managed Blockchain is a blockchain-as-a-service that is convenient and easy to set up. The solution can scale up to handle millions of transactions.
The service exploits and offers two options for customers to choose from: Ethereum fabric and Hyperledger. For an authorized network, AWS protects and manages blockchain network certificates with the AWS key management service. This eliminates the need for customers to set up their own secure key storage.
Rahul Pathak, general manager of Amazon Blockchain at AWS, says:
Many of our customers want to create applications where multiple parties can execute transactions without a central and reliable authority and must also create a blockchain network. Building a scalable blockchain network with existing technologies is too difficult today, which is why customers pay expensive consultants to help them.
Amazon Managed Blockchain eliminates the sludge involved in creating a network, adding and removing members and scaling to meet application requests. Customers can use Ethereum or Hyperledger Fabric, the two most popular blockchain frameworks and get a functioning blockchain network configured with just a few clicks.
For organizations that want to drive blockchain technology within their company, opting for a cloud-based blockchain service provides a cheap and straightforward way to do it. With AWS custom options, companies can choose the option that best suits their specific needs.
Do you think there is a demand for cloud-based blockchain services? Let us know in the comments below.
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