Share this article
Amazon Has Launched a New Service for Building Blockchains
Amazon will help clients build blockchain platforms on Hyperledger Fabric or ethereum with its new product.
By Nikhilesh De
Updated Sep 13, 2021, 8:38 a.m. Published Nov 28, 2018, 8:15 p.m.
Make us preferred on Google
Tech giant Amazon is launching a blockchain service to help clients develop blockchain networks without incurring the costs of creating their own platform.
Announced Wednesday at Amazon's re:Invent conference, the Amazon Managed Blockchain platform "is a fully managed service that makes it easy to create and manage scalable blockchain networks." Users can build platforms using either Hyperledger Fabric or ethereum, though the latter is not yet available.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The new platform is another aspect of Amazon Web Services, Amazon's cloud computing subsidiary which powers a large number of websites and services, including platforms like Netflix.
"Amazon 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 service's website says.
Further, the company announced that the blockchain platform can store data on another database product, saying:
"Managed Blockchain can replicate an immutable copy of your blockchain network activity into Amazon Quantum Ledger Database (QLDB), a fully managed ledger database. This allows you to easily analyze the network activity outside the network and gain insights into trends."
The QLDB is not a blockchain platform, but can be used in conjunction with Amazon's blockchain product to "maintain a complete and verifiable history of data changes."
The service is currently in preview, meaning those interested can sign up. If approved, they will be able to create a blockchain network, at which point they can either invite other Amazon Web Services members or "create more members in your account to simulate a multi-member network," according to an FAQ section.
Amazon image via Sundry Photography/Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
BNB rises 2.5%, nears $900 mark as prediction market growth signals utility expansion
A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options.
What to know:
- BNB token climbed 2.5% to $89e, approaching the $900 resistance level, with increased trading volume suggesting fresh buying interest.
- A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options like Grayscale's pending ETF filing.
- BNB Chain saw significant growth in prediction markets, with platforms like Opinion Labs logging over $700 million in 7-day trading volume and cumulative trading volumes crossing $20 billion.
Top Stories
