Amazon Announces Two Blockchain-Related Products; Quantum Ledger and Managed Blockchain

Published at: Nov. 28, 2018

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 “will be really scalable, you’ll 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.” On the product’s website, Amazon gives a broader description of the new service:

“With QLDB, your data’s change history is immutable — it cannot be altered or deleted — and using cryptography, you can easily verify that there have been no unintended modifications to your application’s data.”

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 “signature delegation” method for “protecting the integrity of digital signatures and encrypted communications.” The second filing proposes a “grid encoding technique” for distributed data storage by using groups of collected “shards,” where each shard represents a logical distribution of data items stored in a given grid.

Also this month, AWS and ConsenSys’ blockchain startup Kaleido launched a full-stack platform dubbed Kaleido Marketplace, that helps enterprises implement blockchain solutions. The platform “eliminates 80 percent of the custom code” needed to build a given blockchain project by providing an array of full-stack tools and protocols that are “plug-and-play,” spanning needs from back-end development to front-end app user interfaces.

Tags
Adoption
Blockchain
Transactions
Amazon
Related Posts
Swiss Blockchain Hackathon in June Includes Partnerships With PwC, Amazon Web Services
Switzerland will host the Swiss Blockchain Hackathon later this year in a bid to help companies find real-life applications of blockchain technology, according to an announcement published on Feb. 27. The three-day event is reportedly organized by Switzerland’s six leading blockchain and IT organizations — Trust Square, Bitcoin Association Switzerland, CV Labs, Crypto Valley Association (CVA), Swiss Blockchain Federation and swissICT — and will take place from June 21 to June 23, 2019. Per the announcement, the hackathon is designed to facilitate the deployment of blockchain across a wide range of industry sectors and help find the technology’s tangible applications …
Adoption / Feb. 28, 2019
Vermont Power Utility Partners With Blockchain Firm for Local Solar Energy Sales
Some Vermont-based households can now sell their excess renewable energy to businesses through blockchain-based energy startup LO3’s platform. Vermont power utility Green Mountain Power and LO3 jointly launched a pilot project that enables homeowners with solar panels to sell surplus power to businesses served by the utility, industry-focused publication Microgrid Knowledge reported on Nov. 19. 500 MWh in trades per year The project is called Vermont Green and is set to begin in December, with the initial objective to cover 50 businesses and 150 households. The partners expect the program to result in around 500 MWh in trades per year. …
Adoption / Nov. 21, 2019
Bitcoin transaction fees briefly doubled yet remain exceptionally low
Got some Satoshi to send or Bitcoin (BTC) wallets to reorganize? It’s increasingly cheap to do so. According to an Arcane Research report, Bitcoin “transaction fees have stayed low since July 2021, showing no signs of rising.” There was, however, a small bump in transaction fees last week. Shown as a small jump at the tail end of the graph, clustering of the mempool pushed “up the average transaction fees per day over the past seven days to $691,000, a doubling since last Tuesday.” Nonetheless, the doubling in transaction fees is insignificant: transaction fees remained in a low range. Miners …
Adoption / March 9, 2022
Ethereum average gas fee falls down to $1.57, the lowest since 2020
The Ethereum ecosystem’s biggest roadblock to mainstream dominance is often attributed to the extremely high transaction fees — known as gas fees — it requires to complete a transaction. However, with Ethereum’s average gas fees coming down to 0.0015 Ether (ETH), the narrative is set to change. The average transaction fee on the Ethereum blockchain fell down to 0.0015 ETH or $1.57 — a number previously seen in December 2020. However, starting in January 2021, Ethereum’s gas fees surged, owing to the hype around nonfungible tokens (NFT), decentralized finance (DeFi) and a promising bull market. For nearly two years, between …
Adoption / July 3, 2022
Ethereum scaling network Arbitrum set for major upgrade on Aug. 31
Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum. Referred to as the “Nitro” upgrade, Arbitrum reconfirmed the date of the upgrade in a Twitter post on Aug. 29, confirming that the upgrade will take effect on Aug. 31 at 10:30 AM Eastern Time, while noting a two to four hours of network downtime period is to be expected. Reminder — Arbitrum One is upgrading to Nitro on Wednesday 8/31. There will be 2-4 hours of …
Adoption / Aug. 30, 2022