Name Price24H (%)
Bitcoin (BTC)
$9,096.07
-1.61%
Ethereum (ETH)
$226.12
-2.17%
XRP (XRP)
$0.175333
-0.92%
Litecoin (LTC)
$41.04
-2.01%
Amazon Going Deeper Into Blockchain Technology
HOT UPDATES, NEWS

Amazon Going Deeper Into Blockchain Technology

Amazon blockchain services announced sometime ago that is based on Ethereum, using the open-source Hyperledger Fabric.

Join the fastest growing network on Telegram

Amazon recently announced a new product called Quantum Ledger Database (QLDB). QLDB offers a SQL-like database interface while offering immutability and verifiability of blockchain technology.

Amazon QLDB is a fully managed ledger database that provides a transparent, immutable, and cryptographically verifiable transaction log ‎owned by a central trusted authority. Amazon QLDB tracks each and every application data change and maintains a complete and verifiable history of changes over time.

The key focus of QLDB is to offer the complete history of all transactions by removing the ability to update and delete anything in the transaction history. Want to delete or change a record? All previous data will be available and can be verified at any point of time.

QLDB runs on AWS and is not distributed and decentralized like other blockchain technologies. This is where QLDB veers from the goals of most blockchain projects.

Using QLDB is nearly as simple as using a cloud SQL database and can be interacted with using similar interfaces. Using QLDB requires no hardware and scales to what you need.

QLDB targets banking, government, and insurance type applications where verifiable transaction history and proof transactions have not been modified is critical. Amazon aims to eliminate the need to complex and time-consuming custom audit functionality.

True to other Amazon Web Services, QLDB can a lot easier than building infrastructure and development but does get expensive when not properly configured.

READ  Multichoice Signs Streaming Deal With Netflix and Amazon
coinmag

A Nice Man

Leave a Comment

Your email address will not be published. Required fields are marked *