Amazon announced managed blockchain services a while ago that is based on Ethereum using the open-source Hyperledger Fabric.
Amazon recently announced a new product called Quantum Ledger Database (QLDB).
While Amazon calls it Quantum, there is nothing Quantum about it. It is really interesting nonetheless.
QLDB offers a SQL-like database interface while offering immutability and verifiability of blockchain technology.
The key focus of QLDB is to offer the complete history of all transactions by removing the ability to update and delete anything in the transaction history. Want to delete or change a record? All previous data will be available and can be verified at any point of time.
QLDB runs on AWS and is not distributed and decentralized like other blockchain technologies. This is where QLDB veers from the goals of most blockchain projects.
Using QLDB is nearly as simple as using a cloud SQL database and can be interacted with using similar interfaces.
QLDB targets banking, government, and insurance type applications where verifiable transaction history and proof transactions have not been modified is critical. Amazon aims to eliminate the need to complex and time-consuming custom audit functionality.
True to other Amazon Web Services, QLDB can a lot easier than building infrastructure and development but does get expensive when not properly configured.
Sample Pricing
Using QLDB requires no hardware and scales to what you need.
It is exciting to see large organizations embrace blockchain technology and help improve awareness and adoption.
You can find out more about Amazon QLDB on their product page.
I can’t blame them they seem to be making a killing off AWS services. This seems like a great place for them to have insane growth as well.
I was eyeing some of their game tech they had a few months back Gamesparks and Gamelift. It’s cool they offer some free trials for quite a few things. I’ve yet to try any of them out.
Scalable resources when you need it I wish were more embraced just in the gaming industry alone. I can only imagen how well that do on the blockchain side between peak hours and months and the slow times.
Do you think this means they'll soon have their own crypto currency people can pay with? It would be interesting how they would implement it, especially with their prime service, ads, and such. Not sure if there would be a way for users to earn some, not quite like points, but something to entice people to use that and to get that coin or token. Maybe, when you pay in their coin, you get a discount of some sort. That would be the most advantageous all around.
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A while back they were doing some hiring for cryptocurrency related positions. I forget the exact details but big companies tend to not be as stealthy as they like when it comes to these kinds of things. Sometimes it’s right there between the lines in a job description.
Then we know where we should be looking hehe
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I am sure at some point they will have something. They are heavily investing resources in offering managed blockchain-based services. I wouldn't be surprised if they are using QLDB internally and decided to turn it into public service.
Although they claim to not have anything in the works
So they say. And then out of the blue, they'll have something. It would be good.
I've often discussed this with other supply chain blockchain crypto investors, I think that using a non decentralized private blockchain like Hyperledger is just a stepping stone for these big brands, they are trying the product in a controlled environment, developing the smart contracts and all the things they need in Hyperledger which is based on Ethereum when they see that it is indeed a better system they will, sooner or later, step it up to a public blockchain, since they already have the smart contracts and everything done they just need to port it to the new blockchain which is normally quite easy since many blockchain provide the tools necessary to do it.
Now I wonder how QLDB will be used and by who...Did they say why they called it Quantum? Or is this one more of the many products where big companies glued Quantum to sell it for an increased price? They could have named it Quantum AI blockchain ledger database and sell it for 4 times the price 😂
I remember an article a while ago about a company who rebranded by adding "Blockchain" to their name and that's it and their stock went up 25% overnight.
I don't fully understand the connection with ethereum (due to my own limited understanding of the technology) but this seems to be just another case of a large corporation integrating blockchain into its operation but not crypto. It seems that most of these corporations are turning to centralized blockchains like those created by Microsoft and what not. The technology aspect is cool for sure but its unfortunate that it doesn't help in the adoption of crypto, aside from maybe awareness by the public whom might associate blockchain and crypto as being synonymous, which they aren't. I saw the discussion on crypto possibly being implemented down the road which would be great, but thats mostly speculative. I guess we will see. The technology aspect of this is cool and interesting for sure, but people should be aware that it may have no impact whatsoever on crypto adoption. Unless I'm not understanding something?
Note: I'm not trying to be critical of the post (hopefully it does not come across that way - again it's very interesting technology-wise). I'm just trying to point out something that may not be obvious to some which is blockchain and crypto are not synonymous.
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Any mainstream use of blockchain or crypto will have the side effect of increasing awareness, interest, and spending into similar technologies.
Ethereum is just that Amazon offers a managed blockchain service based on Ethereum. Different product but shows their focus on blockchain & crypto.
Well, I don't disagree with that lol.
Thanks for clarifying the ethereum part.
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AWS Money Services. Taking your money every microsecond.
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Microsoft is also developing IPFS/eth data systems. Interesting times.
Peopl who are providing Amazon account management and making millions of dollars from their businesses will take benefit from this; like the one Urtasker
This is wonderful.. Not decentralized though😑😐😐. Let's see how it goes.
Duh. Did you even read or you just a complete troll?
@themarkymark. I read it and understood the post. Read my comment very well. My last sentence says it all. ✌
check my profile