Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Online retail giant Amazon has announced two blockchain-based products, which are purportedly able to scale depending on usersâ needs.
E-commerce giant Amazon announced the debut of two new services, Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain, according to a press release shared with Cointelegraph Nov. 28.
QLDB is a ledger database designed to provide transparent, immutable, and cryptographically verifiable log of transactions, which is overseen by a central trusted authority. All changes are purportedly recorded on chain, while the new product is also able to automatically scale and execute two to three times more transactions than already existing products.
Andy Jassy, the CEO of Amazon Web Services (AWS), reportedly said that the product âwill be really scalable, youâll have a much more flexible and robust set of APIs [application program interfaces] for you to make any kind of changes or adjustments to the ledger database.â On the productâs website, Amazon gives a broader description of the new service:
âWith QLDB, your dataâs change history is immutable â it cannot be altered or deleted â and using cryptography, you can easily verify that there have been no unintended modifications to your applicationâs data.â
Apart from QLDB, Amazon also announced AWS Managed Blockchain product, which can operate with QLDB, allowing users to adjust and manage a scalable blockchain network. The product reportedly automatically scales depending on the needs of specific applications, and is deployed in managing certificates, inviting new users to the network, and tracing metrics like memory and storage resources and usage of computer.
Earlier this month, Amazon won two patents related to methods for protecting the integrity of digital signatures and improving distributed data storage. The first patent outlines a âsignature delegationâ method for âprotecting the integrity of digital signatures and encrypted communications.â The second filing proposes a âgrid encoding techniqueâ for distributed data storage by using groups of collected âshards,â where each shard represents a logical distribution of data items stored in a given grid.
Also this month, AWS and ConsenSysâ blockchain startup Kaleido launched a full-stack platform dubbed Kaleido Marketplace, that helps enterprises implement blockchain solutions. The platform âeliminates 80 percent of the custom codeâ needed to build a given blockchain project by providing an array of full-stack tools and protocols that are âplug-and-play,â spanning needs from back-end development to front-end app user interfaces.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.