Amazon Web Services (AWS), the provider of on-demand cloud computing platforms to individuals, companies and governments and subsidiary of e-commerce giant Amazon, has developed its Amazon Managed Blockchain (AMB) service. Through this product, customers will have access to set up Blockchain networks within their organizations and uses the Ethereum and Hyperledger open source frameworks. The company says that AMB can scale to support thousands to millions of transactions.
According to the company, the blockchain-as-a-service (BaaS) will allow businesses to develop their own networks more quickly and at a lower cost, as it eliminates the need to provision hardware, install software, create and manage certificates for access control, and configure network settings. On this move, General Manager, Amazon Managed Blockchain at AWS, Rahul Pathak pointed out that Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates, and security, and scaling the network. United States communications giant AT&T, the Nestlé global food and beverage company and Singapore Exchange Limited have the key players who deployed Amazon Managed Blockchain service.
The Amazon Managed Blockchain, announced by AWS, along with the Amazon Quantum Ledger Database (QLDB), a ledger database aimed at offering transparent, immutable, and cryptographically verifiable log of transactions, which is overseen by a central authority. Amazon Managed Blockchain is said to enable users to develop and manage Blockchain networks more easily and economically using open-source frameworks like Hyperledger Fabric. The company said that support for the Ethereum network is still in the works and is expected to be made available later this year.