- Amazon Managed Blockchains are entirely managed services that allow users to join and manage scalable private networks.
- Blockchain is a decentralized distributed ledger that serves as an underlying platform to build Web3 apps regardless of central authority.
Amazon Managed or AWS blockchain services provide tools required to build anything from a ledger database to a fully functioning blockchain that reduces the need for centralized entities. This service makes it easy to join and access private scalable networks via Ethereum and Hyperledger Fabric.
Web3’s inception gave birth to several revolutionary concepts such as decentralized applications (DApps), decentralized finance (DeFi), Non-fungible tokens (NFTs), and many more. Its distributed ledger makes users independent of any centralized authority and eliminates the need for intermediaries’ intervention.
Amazon-backed blockchain services enable custom tools to cater to the needs of developers and blockchain enthusiasts. This service provides all the necessary tools required to build Web3 solutions. A range of solutions, from centralized ledger databases that maintain immutable transaction records to fully managed blockchain networks aimed at eliminating third-party intervention, can be developed with the assistance of purpose-built tools to cater to individual needs and requirements.
Amazon Web Services (AWS) has many validated blockchain solutions from collaborations that support all popular blockchain platforms, including R3 Corda, Quorum, Ethereum, Hyperledger, and many more. As a result, users can develop certain blockchains and distributed ledger applications with the convenience, speed, and efficiency of AWS.
One of its examples is Amazon’s Quantum Ledger Database (QLDB). QLDB is a completely managed database ledger that enables cryptographically verifiable transaction logs with transparency and immutability. It provides a built-in journal to store every data change in an accurate and sequential manner. These journals are append-only which enables a user to only add data while it can’t be overwritten or deleted.
One of the most significant benefits of this Blockchain service is that it eliminates the overhead needed to create a network, while it automatically gets scaled to fulfill the needs of numerous applications to perform millions of transactions.
Unique Features of Amazon Managed Blockchains
Fully Managed
Blockchain managed by Amazon provides assistance while creating a blockchain network that spans various AWS accounts. It allows a group of users to perform data exchange and transactions, reducing the need for a centralized authority. It also eliminates the manual hardware provisioning, network and security configuration, and device setup from the side of the users.
Offers Different Blockchain Protocols
Initially, blockchain-managed services were designed to support only Hyperledger Fabric, but customers can now opt for either Hyperledger Fabric or Ethereum based on their preference.
Scalability
Managed blockchain has vast potential to enable scalability to a blockchain network depending on the app usage within a network. These blockchains have the capability to scale a network which means that if a network user needs additional capability to make and validate a transaction, they can use the Managed blockchain’s API (Application Programming Interface) to add a peer node.
Reliability
This blockchain strives to improve the reliability of the service ordering, which is an important aspect of the Hyperledger Fabric. It ensures the delivery of transactions. However, it’s difficult to recover and track an entire transaction history. This blockchain’s ordering services are developed with a special Amazon QLDB technology which enables an immutable log to ensure the data’s durability during the saving process.
Conclusion
Amazon Managed Blockchain provides different tools that catapult the development of many technologies whether it’s an application or an entire blockchain network that consists of scalable privacy. These blockchains unveil the vast potential of decentralized systems to simplify profit yielding without any of Web3’s complexities and dilemmas.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.
