Even with the recent downward trend in cryptocurrency, e-commerce giant Amazon is introducing two new blockchain technology services, Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain.
On Wednesday, Amazon announced that the two new services will allow Amazon Web Services customers the ability to set up “a scalable blockchain network with just a few clicks” that “automatically scales to meet the demands of thousands of applications running millions of transactions.”
QLDB is ledger database that will provide a transparent, immutable, and cryptographically verifiable log of transactions.
Andy Jassy, the CEO of AWS, reportedly said that the product “will be really scalable, you’ll have a much more flexible and robust set of APIs [application program interfaces] for you to make any kind of changes or adjustments to the ledger database.”
On the QLDB website, Amazon explains QLDB in more depth:
“Amazon QLDB is a new class of database that eliminates the need to engage in the complex development effort of building your own ledger-like applications. With QLDB, your data’s change history is immutable – it cannot be altered or deleted – and using cryptography, you can easily verify that there have been no unintended modifications to your application’s data. QLDB uses an immutable transactional log, known as a journal, that tracks each application data change and maintains a complete and verifiable history of changes over time. QLDB is easy to use because it provides developers with a familiar SQL-like API, a flexible document data model, and full support for transactions. QLDB is also serverless, so it automatically scales to support the demands of your application. There are no servers to manage and no read or write limits to configure. With QLDB, you only pay for what you use.”
In addition to QLDB, Amazon will also release AWS Managed Blockchain product, which will work with QLDB, helping users to adjust and manage a scalable blockchain network. The Managed Blockchain product will be scalable depending on the needs of various applications.
“Amazon Managed Blockchain is a fully managed service that allows you to set up and manage a scalable blockchain network with just a few clicks,” Amazon said in an announcement.