Amazon Unveils Managed Blockchain Platform

- November 28th, 2018

Called the Amazon Managed Blockchain, Amazon Web Services customers will be able to create and manage a “scalable blockchain network.”

Tech mammoth Amazon (NASDAQ:AMZN) is gearing up to launch a managed blockchain service, the company revealed at its AWS re:Invent conference on Wednesday (November 28).

Called the Amazon Managed Blockchain, the platform will allow Amazon Web Services (AWS) customers create and manage a “scalable blockchain network with just a few clicks.”

Amazon says AWS customers will have the option to choose between open source frameworks like Hyperledger Fabric and Ethereum to build their platforms. The service will also be offered in two different network options: Starter Edition and Standard Edition.

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“Managed Blockchain eliminates the overhead required to create the network, and automatically scales to meet the demands of thousands of applications running millions of transactions,” the company explains.

The platform will further enable users to manage certificates, invite members to the network and track operational metrics including compute usage, memory and storage resources.

Amazon Managed Blockchain will also duplicate fixed copies of a user’s blockchain activity into the Amazon Quantum Ledger Database (QLDB), where customers can analyze network activity outside the network and “gain insights into trends.”

Of note, Amazon stresses the QLDB platform is not a blockchain technology; rather, it is a database ledger for customers to maintain data changes within their applications and “manage in a centralized way.”

In AWS’ FAQ page on the Amazon Managed Blockchain, it explains that users participating in the preview are allowed to engage in a single Hyperledger Fabric network with up to six channels. Users can then create up to three members with a single peer node for each member. Networks can also include up to five members across different AWS accounts with a maximum of three members owned under each account.

Amazon explains that these restrictions will change when the platform becomes “generally available.”

When launched, the Starter Edition will target test networks and small production networks. The Starter Edition allows for a maximum of five members per network and two peer nodes per member.

Meanwhile, the Standard Edition is aimed at production networks with a maximum of 30 members per network with 10 peer nodes per member.

As it currently stands, the Amazon Managed Blockchain is in preview mode in the US. East. The company claims it will open to more regions “soon,” although it did not disclose when.

Shares of Amazon were up 6.09 percent to close Wednesday’s trading session at US$1,677.75. After hours trading dropped its share price down slightly by 0.045 percent to an even US$1,677 as of 6:36 p.m. EST.

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

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