2018-11-29 16:29 |
On Wednesday, 28 November 2018, Amazon Web Services announced the launch of Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain showing the scope of its blockchain ambitions.
What Are QLDB and Amazon Managed BlockchainAmazon Quantum Ledger Database (QLDB) is a high-performance, immutable and cryptographically verifiable ledger service for applications where different parties will work with a trusted centralized entity to maintain a verifiable, complete record of transactions. Customers will be able to build applications while Amazon QLDB “removes the need to build complex audit functionality into a relational database or rely on the ledger capabilities of a blockchain framework.”
The other service, Amazon Managed blockchain is a managed blockchain service designed for businesses and developers who would like to create, manage and scale blockchain networks in a cost-effective and easy manner. These blockchain networks will also allow multiple parties to transact in a fully decentralized way without the need for a centralized authority. It works on the Ethereum and Hyperledger Fabric framework.
Both of the new services are designed for companies that require full auditability of business transactions. Both the services are available in preview.
What Could the Two Applications Be Useful For?The QLDB solution could be used in several different aspects of business, ranging from HR to supply chain management. Shawn Bice, nonrelational databases vice president at AWS, explained the utility of the solution saying:
“AWS teams have been using Amazon QLDB for years to maintain a complete, immutable, and append-only journal of data changes. We started out trying to use relational databases to do this, but quickly found they could not scale or deliver the performance we needed to support our most widely-used services.”
He noted that a lot of customers wanted a centralized immutable ledger for logging and verifying transactions.
There are other AWS customers who are looking for multiple party-enabled decentralized ledgers without a centralized authority, for which they usually opt for Hyperledger Fabric or Ethereum. However, setting these frameworks up is not a cost and time effective solution. TheAmazon Managed Blockchain service makes setting these up as easy as a few clicks. Clients choose “their preferred framework, add network members, and configure the member nodes that will process transaction requests. Amazon Managed Blockchain takes care of the rest.”
Speaking at the reInvent conference on Wednesday, AWS CEO Andy Jassy said:
“We don’t build things for optics.”
He added that AWS only works on things they understand and “this is something that a lot of companies need.”
Amazon Announces AWS Quantum Ledger Database and Amazon Managed Blockchain was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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