AWS launches Amazon Managed Blockchain Service

AWS launches Amazon Managed Blockchain Service

Amazon Web Services announced the general availability of fully managed blockchain service, Amazon Managed Blockchain.

In last December 2018, Amazon Web Services (AWS) announced to be launched fully managed blockchain services namely Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain at its AWS re:Invent 2018 event.

Amazon Managed Blockchain does not require any trusted central authority. It allows to create and manage scalable blockchain networks.

Amazon Quantum Ledger Database (QLDB) requires a trusted central authority. It is a transparent, immutable, and cryptographically verifiable ledger database service.

With this recent announcement, Amazon Managed Blockchain service will be available for general consumption on the AWS cloud platform.

Executive Opinion

General Manager, Amazon Managed Blockchain at AWS, Rahul Pathak, said, "Customers want to use blockchain frameworks like Hyperledger Fabric and Ethereum to create blockchain networks so they can conduct business quickly, with an immutable record of transactions, but without the need for a centralized authority. However, they find these frameworks difficult to install, configure, and manage. Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates and security, and scaling the network. Customers can now get a functioning blockchain network set up quickly and easily, so they can focus on application development instead of keeping a blockchain network up and running."

More on Amazon Managed Blockchain Services

AWS Managed Blockchain Service: How does it works?

Amazon Managed Blockchain is based on open source frameworks like Hyperledger Fabric and Ethereum. It scales to support thousands of applications and millions of transactions, notes the announcement.

Amazon said that customer can set up a blockchain network spanning multiple AWS accounts from the AWS management console. Amazon takes care of configuring the software, security, and network settings.  The Amazon Managed Blockchain service provides an easy and cost-effective option to setup up the networks using Hyperledger Fabric and Ethereum frameworks.

AWS Key Management Service technology secures certificates for access control. At the same time, Amazon Managed Blockchain will help in replicating blockchain transactions to a fully managed ledger database Amazon Quantum Ledger Database (QLDB). The support for Amazon Quantum Ledger Database (QLDB) will be available in the next few months, notes the announcement.

Currently, at the launch of Amazon Blockchain Service, Hyperledger Fabric is supported while Ethereum support will be available later this year.

The announcement noted that AT&T Business, NestlĂ©, the Singaporean investment market, the Singapore Exchange, TrackX Inc and Accenture have signed on to use the company’s services.

The AWS blockchain service follows the trend established by other big cloud players like Microsoft and IBM to launch their own Blockchain-as-a-Service.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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