Amazon lately announced a new Blockchain service at its AWS Re-Invent 2018 Event. Offering another pathway of development in this technology, the tech giant introduced its platform as a managed service for creating and managing scalable blockchain networks. As per reports, this new platform will simplify the operations in running blockchain applications. With such solutions, blockchain based app development will intensify across the industry. Amazon is known to develop highly robust technologies with competitive price strategy. In the same way, AWS revolutionized Cloud Computing and Storage Management, this new Blockchain service will come up as a massive boost in the Blockchain based app development industry.
What is Amazon Quantum Ledger?
Amazon named its new service as Quantum Ledger Database (QLDB). With the launch just before a couple of days, it became a buzzword across the technology community as Managed Blockchain. The service provides Managed Ledger Databases, which will store cryptographically verifiable transaction logs. These logs are immutable, rendering the basic features of Blockchain. QLDB is an enterprise database solution for blockchain transactions. These databases support languages aligning with SQL. The Ledger Database will store the blockchain transaction logs by replicating them, which can be queried later on. Per Amazon, the Quantum Ledgers is easy to use as it simplifies complex operations to few clicks. It is configured using a user-friendly wizard.
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What’s New In Amazon Quantum Ledger?
Breaking into the Blockchain industry Amazon introduced QLDB as a robust enterprise platform. Although the company showcased the service comparable with other such blockchain services in the market, QLDB is marked with distinct features. The distributed ledger is customized for enterprise usage. As it is scalable and easy, this database will support the blockchain industry to develop more complicated applications. The features are developed to back large blockchain based app development. The following are the features of QLDB.
- Amazon claims QLDB has much greater capacity than existing solutions. In the release event, it claimed that the new database will execute up to three times more transactions compared to other such services.
- QLDB is serverless. It implies it can scale up as per the requirement of the blockchain application. This feature renders the service in a pay-per-use model. The more space an application need, the more user pays.
- Meanwhile, the cost automatically becomes less as user frees up space in the database. Also, its serverless quality reduces the set of operations to manage it.
- Being supported with API based mechanism, QLDB is deemed user-friendly. This database is based on a flexible data model.
- Transaction logs in QLDB are called journals. The journals tract each change and transaction in the blockchain. They are verifiable making each transaction history completely traceable.
Read About: An Introduction to Enterprise Blockchain Development
How will QLDB Impact Blockchain Based App Development
A year before, Amazon denied to get involved into Cryptocurrency through AWS. However, in a years time, the technology behind cryptocurrency changed to a fundamental undertone in the enterprise web application domain. After IBM and Microsoft, Amazon’s entry into the industry was imminent. With this, BaaS, Blockchain as a Service is gradually becoming the next tide in enterprise technology.
Blockchain as a Service, BaaS applications are basically transforming cloud-based servers to distributed ledgers. Therefore, blockchain is now gradually migrating into the cloud sphere. This trend will have a positive impact on Blockchain based application development as the platforms to develop such applications are now scalable and available on demand.
