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What is Blockchain on AWS?

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Blockchain technology in AWS is an advanced database mechanism.  This mechanism allows clear information for sharing the data within a business network. A blockchain database stores data in blocks that are linked together in a chain. Data that is consistent chronologically can be used. This is because one cannot easily delete or modify the chain without some consensus from the network. As a result, blockchain technology can be used to create some unalterable or immutable ledgers that are used for the purpose of tracking orders, payments, other transactions, and accounts. The article focuses on discussing Blockchain on AWS.

The following topics of blockchain on AWS will be discussed here:

  1. What is Blockchain on AWS?
  2. What does the AWS Blockchain include?
  3. Features of AWS Blockchain
  4. What is QLDB?
  5. What is Amazon Managed Blockchain?
  6. Why choose Amazon-managed Blockchain?
  7. AWS Blockchain Templates

Let’s start discussing each of these topics in detail.

What is Blockchain on AWS?

The blockchain system has some built-in mechanisms and these built-in mechanism uses some event unauthorized transaction entries. And also create consistency in the transactions in some shared view. As the name suggests Blockchain is a chain of many different interconnected blocks. and each of these Blocks is a data point that will store some data. And once these blocks get filled, they got linked to the previous block, and in the new block, any new incoming information is stored.

Blockchain in AWS is which helps you to quickly create and deploy blockchain networks on AWS using some different blockchain frameworks. Amazon Manages the Blockchain that eliminates the heavy lifting involved in the setup of blockchain networks by reducing its time taken up to 60%  in hosting Hyperledger Fabric frameworks. AWS has over 70+ validated blockchain solutions from partners that provide support to all major blockchain protocols like Hyperledger Sawtooth, Corda, DAML, Ethereum, Quorum, Blockstack, Blockapps Strato, RSK, Kadena ScalableBFT, and many more. AWS Blockchain is a Fully managed ledger database that it consists of the centralized transaction log.

Blockchain is DLT(Distributed Ledger Technology) where the transactions are recorded with Hash, it is an immutable cryptographic signature.

  1. A blockchain database stores data in blocks that are linked together in a chain.
  2. Blockchain on AWS is the most efficient, cost-saving, and less risky system to manage work related to payments.
  3. Blockchain increases transparency, giving all parties actual-time visibility.
  4. The blockchain system has some built-in mechanisms and these built-in mechanism uses some event unauthorized transaction entries.
  5. It creates consistency in the transactions in some shared views.
  6. Blockchains like Bitcoin and Ethereum are constantly growing speedily.
  7. Blockchain is also playing a significant role in adding to the security of the ledger.
  8. Blockchain is a decentralized database that is handled by multiple participants.
  9. With the help of a blockchain network, you can track orders, payments, accounts, and production.
  10. The blockchain system has some built-in mechanisms and these built-in mechanism uses some event unauthorized transaction entries.

What does the AWS Blockchain include?

AWS has over 70+ validated blockchain solutions from partners that provide support to all major blockchain protocols like Hyperledger Sawtooth, Corda, DAML, Ethereum, Quorum, Blockstack, Blockapps Strato, RSK, Kadena ScalableBFT, and many more.

Blockchain networks basically serve as reliable tools for businesses to maintain and secure records for many different digital transactions throughout multiple parties. There is the lack of a centralized authority that also creates many challenges when offering some considerable benefits. The managed blockchain offerings now have become very popular for businesses that are working on leveraging blockchain technology and this is without independent network setup and management.

The perfect example of fully managed services is AWS Blockchain using blockchain technology. And somehow, Blockchain on AWS means the powerful mixture of offerings that supports the ideas of enterprise blockchain in many organizations. The most prominent entries are Amazon Quantum Ledger Database, Amazon Managed Blockchain, AWS Blockchain Partners, and AWS Blockchain Templates.

  1. Blockchain networks basically serve as reliable tools for businesses.
  2. The managed blockchain offerings now have become very popular for businesses.
  3. Some Blockchain protocols are Hyperledger Sawtooth, Corda, DAML, Ethereum, Quorum, Blockstack, Blockapps Strato, and RSK.
  4. Since amazon Managed Blockchain scales to meet the demands of many applications which are running millions of transactions.
  5. Blockchain on AWS means the powerful mixture of offerings that supports the ideas of enterprise blockchain in many organizations.
  6. Businesses are working on leveraging blockchain technology and this is without independent network setup and management.
  7. The perfect example of fully managed services is AWS Blockchain using blockchain technology.
  8. The most prominent entries are Amazon Quantum Ledger Database, Amazon Managed Blockchain, AWS Blockchain Partners, and AWS Blockchain Templates.
  9.  Blockchain is a powerful mixture of offerings that supports the ideas of enterprise blockchain in many organizations.
  10. Maintenance and security of records for many different digital transactions throughout the multiple parties is possible via blockchain

Features of AWS Blockchain

  1. Data is Immutable: In Blockchain once data is recorded, data is immutable which means the data is permanently stored and viewable to everyone in the network.
  2. Blockchain is a type of Distributed Ledger Technology (DLT): Many times Blockchain is often called a Distributed Ledger Technology (DLT) because it is used to store transactions in many digital forms that can’t be changed, deleted, or destroyed so as to make it secure and transparent.
  3. Data stored is decentralized and distributed: Since there is no single person control over the entire data. So Instead, all the network members have control collectively and many times, the data is not stored at a single location. Instead, Blockchain is distributed over many multiple data points that are called nodes across an extensive network.
  4. Blockchain is Fully Managed: To launch a blockchain network in minutes can be possible without additional configuration too. With a few clicks, you can easily set up your network. If you want to join any public network, you can easily join. There is also a voting API that enables the members of a blockchain network to quickly vote.
  5. Have a choice of Frameworks: There is support by Ethereum and Hyperledger Fabric. There is secure interaction with your Hyperledger Fabric components. With Ethereum, the Smart contracts allow the participants to conduct verified transactions without having any trusted central authority.
  6. Scalable and Secure: Blockchain provides the Scalability and AWS Key Management Service (KMS) facility. It also has an open-source blockchain framework that allows permissions and control on the data of the blockchain. There is safe interaction with blockchain peer nodes on the network. There is no need to worry about setting up your own security device. 
  7. Reliability: There is an Augmented ordering service with Amazon QLDB technology. It has an immutable change in logs and also maintains the complete history of all the uncommitted transactions. 

What is QLDB?

QLDB stands for Amazon Quantum Ledger Database. So, QLDB is simply a type of ledger database which shows all the history that is made in your application data. It is basically a No-SQL database. QLDB will fit perfectly for those many applications where you need a scalable centralized ledger database. Many times, QLDB automatically does the scalability but the users don’t have the provision of any underlying resources.  QLDB is the best for maintaining a data base at one place and very easily. These are having very stable speed of the server.

QLDB is used in Supply chains, Insurance, Banking, Travel, transportation, and Finance. Setup for the users that don’t have the provision of any underlying resources.

Benefits of QDB:

  • The most important benefit of QLDB is it provides a transparent and cryptographically verifiable transaction log.
  • It is very easy to use. 
  • You have the access to change the history of the application’s data. QLDB also permits you to monitor many operational metrics for your read and write input-output operations with Cloudwatch.
  • It tracks and maintains a sequenced history of every application data change.
  • It trusts the integrity of your data

Drawbacks of QLDB:

  • The drawback of QLDB is it doesn’t directly share the permissions of the network but it will help in reaching new businesses.
  • The ease of changing or updating the information is quite time-consuming.
  • Not Good for Banking Transactions.
  • It is a serverless technology.
  • Sometimes, Users face some problems regarding searching the data or managing some things.

What is Amazon Managed Blockchain?

Amazon Managed Blockchain helps in managing and creating private networks scalable. so it simply manages scalable blockchain networks and distributed ledger technology which helps the users. Amazon Managed Blockchain is good as it eliminates the overhead required for creating the network, and automatically scales so as to meet the demands of thousands of applications that are running millions of transactions.

Amazon-managed blockchain works in such a way, first, you need to create a network, then invite members, add nodes and at the end deploy the applications. If you want to use Managed Blockchain then create scalable resources on the blockchain and network them quickly and efficiently by using the AWS CLI,  AWS Management Console, or the Amazon Managed Blockchain SDK. It is very beneficial from a data security point of view. With the help of  Amazon Managed Blockchain, financial and trading consortiums can be done easily by creating a blockchain network where all parties can process their trade-related paperwork electronically very easily. There is also real-time tracking of goods from one party to another party.

Benefits of Amazon Managed Blockchain:

  • The most important benefit of Amazon-managed blockchain is it is fully managed.
  • Amazon Managed Blockchain provides security and improves reliability and scalability.
  •  Amazon Managed Blockchain can also be used for tracking transactions in a supply chain.
  • Amazon Managed Blockchain helps in managing and creating private networks scalable.
  • Amazon Managed Blockchain is good as it eliminates the overhead required for creating the networks

Drawbacks of Amazon Managed Blockchain:

  • The drawback of Amazon Managed Blockchain is to target the rank-and-file IT teams and implementation of the blockchain in the market is also too complex.
  • Amazon Managed Blockchain platforms are a bit new and complicated.
  • A Beginner User can find difficulties in the initial setup for blockchain management.
  • This blockchain requires a lot of monitoring and adaptation.
  • It is little Expensive to use.

Why Choose Amazon-Managed Blockchain?

Below are some of the reasons for choosing an amazon-managed blockchain:

  1.  Secure the Applications:  While choosing the amazon managed blockchain, You can easily build applications where you need multiple parties to secure and transparent the running of transactions and share the data without the need for any central authority. 
  2. Eliminates the overhead: Amazon Managed Blockchain also eliminates the overhead which is required for creating the network and then scales automatically so as to meet the demands of thousands of applications that are running millions of transactions. 
  3. Shares the Information Easily: Amazon-managed blockchain will allow you to share the rewards information quickly. 
  4. Maintains Transparency: It also maintains transparency, without any need for a central authority that processes the rewards transactions between many retailers.
  5. Eliminates manually provisioning hardware: Amazon Managed Blockchain helps in eliminating the need for many manually provisioning hardware, and then configuring software, and setting up the networking and security components.

AWS Blockchain Templates

AWS Blockchain Templates are templates that help you in creating and deploy blockchain networks quickly on AWS by using some different blockchain frameworks. This can be used in governance, international payments, supply chain management, land registration, crowdfunding, and financial transactions. To use AWS Blockchain Templates, you need to first configure and launch the AWS CloudFormation stacks to create blockchain networks. Blockchain Templates allow many people and organizations whom you do not know from one to trust and this will independently verify the transaction record. With the help of AWS Blockchain Templates, You can Easily create and deploy the blockchain networks on AWS using many different blockchain frameworks like Ethereum and Hyperledger Fabric. There are two types of blockchain templates 

  1. AWS Blockchain Template for Ethereum: Ethereum is one of the blockchain frameworks which runs on smart contracts by using Solidity(it is an Ethereum-specific language). The most recently launched form of Ethereum is Homestead. It is working based on solidity.
  2. AWS Blockchain Template for Hyperledger Fabric: Hyperledger Fabric is also one of the blockchain frameworks which works on smart contracts called chain code(it is written in Go). If you want to create a private network with Hyperledger Fabric, you have to limit the peers that will connect the network and also participate. 


Last Updated : 28 Mar, 2023
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