Posted 5 months ago | by @devadmin
Amazon Web Services (AWS), announced today that Ethereum is now available on its Amazon Managed Blockchain.
AWS users can now set up Ethereum nodes and join the public Ethereum main network on the Amazon Managed Blockchain (AMB.)
“Amazon Web Services (AWS) announces general availability of Ethereum on Amazon Managed Blockchain. Ethereum is a popular decentralized blockchain framework that establishes a peer-to-peer network allowing participants to transact without a trusted central authority. It enables popular use cases such as decentralized finance (DeFi), a network of financial applications built on top of blockchain networks. DeFi is different from existing financial networks because it is open and programmable, operates without a central authority, and enables customers to offer new methods for payments, investing, lending and trading. As customers build these Ethereum-based applications, they find it complicated and time-consuming to operate and manage their Ethereum infrastructure. Specific concerns include data reliability due to out-of-sync nodes, data storage scaling challenges, and time-sensitive Ethereum software upgrades.
With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten. With Amazon Managed Blockchain, customers get secure networking, encryption at rest and transport, secure access to the network via standard open-source Ethereum APIs, fast and reliable syncs to the Ethereum blockchain, and durable elastic storage for ledger data. Amazon Managed Blockchain monitors node health, replaces unhealthy nodes, and automates Ethereum software upgrades, improving the availability of customers’ Ethereum infrastructure. In addition to DeFi applications, customers building analytical products such as smart contract monitoring tools and fraud detection software can also benefit from this scalable, highly available, and fully managed Ethereum service on Amazon Managed Blockchain.”
This comes after Jeff Bezos announced that he will soon be stepping down from Amazon last month. Bezos is in the process of being replaced by AWS CEO Andy Jassy, who previously offered a mixed review of blockchain technology and its applicability to Amazon’s business in 2017.
In a statement at the Amazon “re-invent” conference in 2017, Amazon’s incoming CEO Andy Jassy expressed doubt that blockchain could be used for more than a “distributed ledger” but also said he and his team were personally interested. However, company policy dictated that they don’t “build technology [just] because we think it is cool.”
In 2018, Jassy eventually allowed blockchain technology as he oversaw the launch of two blockchain products: Amazon Quantum Ledger Database and Amazon Managed Blockchain.
Besides Amazon, there is also Wallmart, IBM, Infosys, Microsoft, UPS, and other big names that are exploring the use of blockchain technology. These companies are trying to implement Blockchain Technology in their daily business operations and to make their work more efficient. Amazon now offers several “blockchains as a service” through AWS, which it first started releasing in 2019.
Amazon also recently discussed last year about integrating blockchain technology for its supply chain, for “verifiable tracking of an item through a supply chain using a distributed electronic ledger,” FreightWaves reported.
The company wrote in its United States patent application that it can be challenging, if not impossible, to ascertain the trustworthiness of a party as activities move online and internationally. It noted, “Trust is earned. Once trust is lost, it can often be difficult to regain.”
Additionally, last year Amazon AWS added smart contracts to Amazon Web Services’ Quantum Ledger Database, or QLDB thanks to tech company Blockchain Technology Partners.
So Amazon’s interest in blockchain technology has expanded over the years and now, the company has embraced the Ethereum blockchain.
Ethereum on Amazon Managed Blockchain is available in the following AWS regions: US East (N. Virginia), Asia Pacific (Singapore), Asia Pacific (Tokyo), Asia Pacific (Seoul), Europe (Ireland), and Europe (London). For more information on AWS regions and services, please visit the AWS global region table. To learn more about Amazon Managed Blockchain, please see our product page and documentation.
Could we see Amazon adding other blockchains in the near future? Perhaps maybe as Ben and Tim Draper from Bitboy Crypto speculated earlier today on the live stream, Amazon might even add Bitcoin into its accepted payments when Jassy takes over as CEO.
Bitcoin is currently trading at [FIAT:$51,004.32] UP +5.5% in the last 24 hours according to Coingecko at the time of this report.