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How does the Amazon Blockchain work?


Amazon has become very serious about offering services built on one of the new disruptive technologies. And it is nothing more than Blockchain networks. Thanks to its two solutions called Amazon Web Services (AWS) and Amazon Managed Blockchain (AMB).

When more than 11 years have passed; and blockchain network technology has proven to be a real benefit to humanity; and have even proved to be the future. And it is a super giant like Amazon; that one of its main businesses is the provision of cloud services; Missing the Blockchain train was simply not an option.

On the other hand, as a company one could simply rely on a Blockchain rather than proven one of the largest cryptocurrencies, without so many errors, and at a lower cost.

But, when you are one of the largest companies in the world, and with a larger market valuation than many GDP of developing countries; Creating a Blockchain of 0 is no problem.

AWS and Blockchain technology

A leader in the “new” market is definitely AWS, which consists of more than 175 different products and services; All available in the cloud.

AWS really grew in popularity and capacity over the past decade. One reason is that AWS is so reliable and safe; is that they use a “gold standard”; which does not want to be revealed.

It is because of the type of excellence that Amazon offers, that some of the best-known brands that exist, such as Netflix, Uber and Airbnb have blindly bet on AWS. And now, they have opted for the Blockchain.

Amazon has proposed to provide the solution to its customers with 2 problems in particular. First; how inefficient the central authorities are to maintain a complete and verifiable record of any type of operations.

And secondly, once the unreliable central authority has been eliminated. The parties need to be given traceability, and instant validation of operations. And this is where blockchain networks have fallen like a ring to the finger of AWS.

AWS offers a distributed accounting database. This database is high-performance, immutable and verifiable by cryptography, eliminating the need to design complex audit tables or create an own Blockchain for each company., the company said in a press release.

According to Amazon, its Blockchain makes it easy to configure, implement and manage fully scalable Blockchain networks. Eliminating the need for expensive consulting implementations.

Amazon: Blockchain

How does the Amazon Blockchain work?

Amazon Web Services provides services with all the disruptive features of the Blockchain thanks to several solutions; as they are:

  • Amazon Quantum Ledger Database (QLDB).
  • Amazon Manager Blockchain (AMB).

Amazon Managed Blockchain is a completely built service that facilitates the creation and administration of scalable Blockchain networks through the use of popular open source frameworks; as are Blockchains Hyperledger Fabric and Ethereum.

Amazon allows customers to choose what Blockchain base they want, whether the code or technology used by Ethereum, or Hyperledger Fabric. According to the needs of its customers.

Ethereum is suitable for highly distributed Blockchain networks, where data transparency is important for all members.

Hyperledger Fabric, on the other hand, is suitable for applications that require strict privacy and permission controls with a set of known members.

Currently, creating a scalable blockchain network with existing technologies is somewhat complex to configure and difficult to manage.

But, unlike our competitors. Amazon Managed Blockchain is a fully managed service that allows you to configure and manage a scalable Blockchain network with a few clicks, says Amazon.

Blockchain - Amazon

In addition, Managed Blockchain can replicate an immutable copy of its blockchain network activity to Amazon Quantum Ledger Database (QLDB), a ledger database fully managed by agents that hire it.

Use cases

  • Manufacturers: Those who wish to store the data of several systems in a single Blockchain. Able to accurately track the production cycle, the supply chain and the way in which its products are distributed.
  • Human Resources: Those who wish to keep a faithful record of all their employees, payrolls, bonuses and returns.
  • Insurance: Insurance firms often need an efficient way to keep track of transactions, and demands of all their customers.
  • Commerce: For those commercial consortiums that try to reduce the time, and the complexity involved in cross-border payments, and the transfer of assets with different interest rates. It also allows transactions with different parties at the same time, and without major problems.
  • Banking: Try to eliminate the friction that exists between all the banks that have granted a syndicated loan.
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Ernesto Briceño Leonett

Economics student of the UCV. Defender of individual freedoms and of course also of the market and cryptocurrencies.

Ernesto Briceño Leonett

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