Amazon is making its entry into the blockchain space, via a new tool available through its AWS (Amazon Web Service) to “create and manage scalable blockchain networks” via open-blockchain networks like Ethereum.You can now create & manage scalable blockchain networks with generally available Amazon Managed Blockchain. https://t.co/qoPDufNVl0 pic.twitter.com/z2M804vwgm — Amazon Web Services (@awscloud) April 30, 2019 Why Ethereum?
Amazon has said that “Ethereum is well suited for highly distributed blockchain networks where transparency of data for all members is important”. They gave the example of a “customer loyalty blockchain network that allows any retailer in the network to independently verify a user’s activity across all members to redeem benefits”.
In the press release, Amazon said that businesses can setup a blockchain network spanning multiple AWS accounts in the management console. AMB supports two frameworks — a business’s choice of Ethereum or Hyperledger Fabric. The former is the fruit of the combined labours of IBM and the Linux Foundation — part of the Hyperledger Project, which features as part of IBM Blockchain, a Performance-as-a-Service offering.
It must also be noted that Ethereum isn’t actually supported yet, with a planned schedule to come online in the summer.How it will work
Amazon Managed Blockchain will be used to “easily create and manage scalable blockchain networks”. The new service will launch on Hyperledger Fabric today, with “Ethereum coming soon”.
The new product promises customers an ability to “set up and manage a scalable blockchain network” with “just a few clicks”.
In addition to making it easy to set up and manage blockchain networks, Amazon Managed Blockchain provides simple APIs that allow customers to vote on memberships in their networks and to scale up or down more easily. Amazon Managed Blockchain offers a range of instances with different combinations of comput...