SmartStateIndia
Events News Re:Invent2018

AWS Announces two new services to manage business transactions,(QLDB) and Amazon Managed Blockchain

AWS logo

At AWS re:Invent, Amazon Web Services, Inc. announced two new services to help companies manage business transactions that require full auditability. Amazon QLDB is a transparent, immutable, and cryptographically verifiable ledger for applications that need a central, trusted authority to provide a permanent and complete record of transactions (for example, supply chain, financial, manufacturing, insurance, and HR).

For customers who want to build applications where multiple parties can execute transactions without the need for a trusted, central authority, Amazon Managed Blockchain makes it easy to create and manage scalable blockchain networks using the popular, open source Ethereum and Hyperledger Fabric frameworks. With a few clicks in the AWS Management Console, customers can set up a blockchain network that can span multiple AWS accounts and scale to support thousands of applications and millions of transactions.

Amazon QLDB: A transparent, immutable, and cryptographically verifiable ledger database service (available in preview)

Amazon QLDB is a new class of database that provides a transparent, immutable, and cryptographically verifiable ledger that customers can use to build applications that act as a system of record, where multiple parties are transacting within a centralized, trusted entity. Amazon QLDB removes the need to build complex audit functionality into a relational database or rely on the ledger capabilities of a blockchain framework. Amazon QLDB uses an immutable transactional log, known as a journal, which tracks each and every application data change and maintains a complete and verifiable history of changes over time.

All transactions must comply with atomicity, consistency, isolation, and durability (ACID) to be logged in the journal, which cannot be deleted or modified. All changes are cryptographically chained and verifiable in a history that customers can analyze using familiar SQL queries. Amazon QLDB is serverless, so customers don’t have to provision capacity or configure read and write limits. They simply create a ledger, define tables, and Amazon QLDB will automatically scale to support application demands, and customers pay only for the reads, writes, and storage they use. And, unlike the ledgers in common blockchain frameworks, Amazon QLDB doesn’t require distributed consensus, so it can execute two to three times as many transactions in the same time as common blockchain frameworks.

Amazon Managed Blockchain:

Amazon Managed Blockchain is a new, fully managed blockchain service that makes it easy and cost-effective for customers to create and manage secure blockchain networks that can scale to support thousands of applications running millions of transactions. Amazon Managed Blockchain supports two popular open source blockchain frameworks, Ethereum and Hyperledger Fabric, and setting up a blockchain network is as easy as a few clicks in the AWS Management Console. Customers simply choose their preferred framework, add network members, and configure the member nodes that will process transaction requests. Amazon Managed Blockchain takes care of the rest, creating a blockchain network that can span multiple AWS accounts with multiple nodes per member, and configuring software, security, and network settings. For a permissioned network, Amazon Managed Blockchain secures and manages blockchain network certificates with AWS Key Management Service, eliminating the need for customers to set up their own secure key storage.

Amazon Managed Blockchain contains a voting API that allows network members to quickly vote to add or remove members. And, as application usage grows, customers can add more capacity to the blockchain network with a simple API call. Amazon Managed Blockchain offers a range of instances with different combinations of compute and memory capacity to give customers the ability to choose the right mix of resources for their blockchain applications.

Related posts

ConnecTechAsia Reveals Details of Event to Deliver Best-In-Class Virtual Experience

SSI Bureau

Pega Introduces First RPA Auto-balancing Feature for Hands-Free Bot Workload Management

SSI Bureau

TrueConf in the “Innovator” Section of the 2021 Globe for Video Conferencing

SSI Bureau

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

error: Content is protected !!