Saturday, June 10, 2023
HomeNewsBlockchain News: Amazon Embraces Blockchain Technology

Blockchain News: Amazon Embraces Blockchain Technology

Blockchain News: The underlying technology for cryptocurrencies such as bitcoin (BTC), blockchain has been touted to posing capabilities that can facilitate many use cases and has been increasingly being employed at various levels in various industries. This time around Amazon taps into the blockchain ecosystem and introduces two new services based on the technology.

A blog post posted by the company on Wednesday announces about the two new services, including a managed blockchain offering that will enable Amazon Web Services customers set up “a scalable blockchain network with just a few clicks” that “automatically scales to meet the demands of thousands of applications running millions of transactions.”

The other product is Amazon Quantum Ledger Database, or QLDB, where customers can replicate a copy of their blockchain network activity.


The New Products 

Amazon’s new product will support two popular existing blockchain platforms — Ethereum and Hyperledger Fabric. The former is linked to the cryptocurrency ether and is a popular open-source building platform for developers, while Hyperledger is utilized by corporate giants including IBM to build their projects

Andy Jassy, Amazon Web Services CEO  said on Wednesday at the company’s re:Invent conference in Las Vegas.

We don’t build things for optics.

Jassy adds that the firm  only spends resources on something when they “understand the problem” and said, “this is something that a lot of companies need.” He states the firm is responding to demand from existing customer. Jassy went on to point other common customer use cases including mortgages, health-care records, supply chain tracking and vehicle history records.

Read more: Power Ledger Sets Out To Use Blockchain To Power The World



Most Popular