On 28. November, the E-Commerce giant Amazon has announced two Blockchain-related products: Amazon Quantum Ledger Database (QLDB), and Amazon Managed Blockchain. The company marked its further Expansion in the field of Blockchain technology, which began with patents on block chains and cooperations, the Amazon has apparently chosen to work with crypto-currencies per se.
What is the are for new projects and you will change the crypto industry?
QLDB: Cryptographic, but a centralised database
According to Amazon’s Website, it is in QLDB to a Ledger database, the “transparent, immutable, and cryptographically verifiable log of transactions,” provides, the “trusted Central authority” is to be monitored.
So all Changes are recorded on the Blockchain, while the new product can be automatically scaled to “2 – 3 times as many transactions as Ledger in the popular Blockchain framework to run.” Andy Jassy, the CEO of Amazon Web Services (AWS), has in fact declared that the QLDB “is really going to be scalable. You have a much more flexible, and more stable set of APIs [application program interfaces], with which any type of applications can create or make Changes and adjustments to the Ledger database. “
In addition, QLDB allegedly used a cryptographic hash function (SHA-256) to generate a secure output file of the Protocol of Amendment of the data, which serves as proof that “the integrity of the data changes is checked.”
“QLDB the change history of your data is immutable – it cannot be modified or deleted. With cryptography, you can easily check that no unintended Changes to the data in your application have been made,“ says the description on the Amazon Website.
Walter Montes, co-founder of the Costa Rican Blockchain Community, explained to Cointelegraph that QLDB as a centralized product was distributed solutions are comparable, although this will be tried in your Plan:
“It makes no sense to compare things like transactions per second from a centralized Service with a decentralized one. There are reasons why these things are decentralized, and these are not only technical things. Amazon doesn’t seem to understand the main point, if you compare QLDB with a Blockchain.”
Even if you try to compare QLDB with allowed block chains, because of their safety in industrial companies are common, there are major differences between these two. Montes says:
“Approved Blockchains treat cryptographic decentralized, which provides features such as historical evidence. […] Another relevant point of the value of smart contracts, or Chain Codes, which act as agreed and under the rules for the Amendment of the data recorded. At least in the public communication is only the promise the immutability is mentioned, but how it looks with the applicable data rules? If so, you should log only what is happening, without really proactive control.“
to argue The power QLDB technically a database, Eyal Shani, a Blockchain Explorer and a former software engineer and Aykesubir-adviser:
“QLDB is a normal database in this sense. During a Blockchain database is also an immutable Ledger, […] is the QLDB technology, a further software layer, which facilitates the development of Ledger similar Software.”
Montes also agrees that QLDB is similar to a conventional database, and adds, that the cryptographic function is put under the security of the blockchains.
“cryptography may not reassure some users, but also offers the security and robustness that a Blockchain provides. [It is rather] a marketing tool.”
In addition, the fact that there is a Central authority that monitors the entire process could be under one of the competing companies are less reliable:
“imagine six banks of the same size have confidence that one of them (a competitor) has a” cryptographically linked list”, which you can check. You will not believe the thing. [Instead] create your own data storage, and daily check the data versions. Cryptography is, in part, to check things, but if you are not able to do that once, missed the target.”
Why avoid QLDB decentralisation?
Who are the potential users of the QLDB solution from Amazon? Perhaps those who are skeptical of the Blockchain-tag, now, as the Hype begins to normalize. Shani suggests:
“Some believe as much as Satoshi and some want to have anything to do with decentralization, perhaps because of their bad reputation, and the excessive number of speculators in the crypto sphere.
It is Marketing Buzz, we see it with artificial intelligence and the Internet of things. This can continue until the creation of a true decentralized Blockchain is as simple as Creating a database today.”
With the further development of the Blockchain for a stronger acceptance. It may take longer to decentralization more worthy to be a trusted solution for companies who want to protect their data before manipulation:
“The decentralisation of trust as a concept can some industries are fundamentally shake, but it will take some time until we get there. The Public and the Supervisory authorities would need to change your way of thinking, in order for this to arrive […] in the Meantime, the use of Blockchain-style applications, and the Tokenization of assets for many industries, already a big jump and will facilitate the transition to the block chains in the long run.”
Amazon Managed Blockchain: QLDB additional or independent Blockchain-solution?
Amazon Managed Blockchain, was announced along with the QLDB, “simplifies the creation and management of scalable Blockchain networks with the popular Open-Source Frameworks to Hyper Ledger Fabric and Ethereum”, but also works with the QLDB, the Website of the company.
In addition, is scaled according to the requirements of certain applications automatically and Manage certificates, to Invite new users to the network and theoutcomes measurement is used data, such as memory resources and the use of computers, argues Amazon. Andy Jassy, CEO of AWS, claims that this Service will make “the use of the two most popular Blockchain-framework [Ethereum and Hyper Ledger Fabric]” much easier.”
Shani puts this Argument into question, by claiming that the block chains of Ethereum and Hyper Ledger under the current circumstances, the industry is already “easy” to set up. The Blockchain, the researchers also emphasized the vagueness of the press release from Amazon:
“the Governance of the distributed Protocol is an important aspect, but it is not clear how Amazon intends to achieve this. If you have implemented it Central, then where is the difference to QLDB?“
Montes, in turn, does not believe that a Managed Blockchain-service offer may be for a long time available, as it limits the scalability of open systems (in a network-effects-based technology), by being tied to a single Cloud provider.” Such solutions could be for testing and Proof-of-Concept (PoC operations is helpful, he adds.
The fact that such a large company such as Amazon announced new products for the Blockchain, could be a good sign for the industry.
“From a macroeconomic point of view, the following applies: The more research and development around Ethereum is operated, the stronger the Protocol is, and grows to a worldwide acceptance as a Standard,” says Shani.