Amazon, a technology giant, is now launching a blockchain service which is going to help its clients to develop blockchain networks without incurring the costs of creating their own platform.
On Wednesday, the 28th of November, the Web Services has announced the launch of the Amazon Quantum Ledger Database or QLDB and Amazon Managed Blockchain platform, showing the scope of its blockchain ambitions.
What is Quantum Ledger Database or QLDB?
The Amazon Quantum Ledger Database or QLDB is actually a high-performance immutable and cryptographically verifiable ledger service for applications where some different parties are going to work with a trusted centralized entity in order to maintain a verifiable and complete record of transactions.
It is not a blockchain platform, but it can be used in conjunction with the blockchain product in order to maintain a complete and verifiable history of data changes.
On the QLDB, users will have the ability to build applications while it removed the need to build some complex audit functionality into a relational database or rely on the ledger capabilities of a blockchain framework.
What is Amazon Managed Blockchain platform?
On the other hand, the Amazon Managed Blockchain platform, designed for businesses and developers, is a fully managed service for making scale easier, create as well as manage scalable blockchain networks. Such blockchain networks will also allow multiple parties to transit in a fully decentralized way without any need of centralized authority.
On such a platform, users will be able to build platforms by using the Hyperledger Fabric or Ethereum, though the latter is still not possible. This new platform is another aspect of the Amazon Web Services, the cloud computing subsidiary of Amazon that powers a large number of websites and services, which include platforms such as Netflix.
The two services are available in preview
Both these new services are designed for companies which require full auditability or business transaction.
Both of them are also available in preview, which means that those that are interested can sign up.
If they are approved, they will have the ability to create a blockchain network, at which point they can invite some other Amazon Web Services members or create more members in their account to stimulate a multi-member network.
However, setting these frameworks up is not a cost and time effective solution.