Tech giant Amazon is launching a blockchain service to help clients develop blockchain networks without incurring the costs of creating their own platform.

Announced Wednesday at Amazon’s re:Invent conference, the Amazon Managed Blockchain platform “is a fully managed service that makes it easy to create and manage scalable blockchain networks.” Users can build platforms using either Hyperledger Fabric or ethereum, though the latter is not yet available.

The new platform is another aspect of Amazon Web Services, Amazon’s cloud computing subsidiary which powers a large number of websites and services, including platforms like Netflix.

“Amazon Managed Blockchain eliminates the overhead required to create the network, and automatically scales to meet the demands of thousands of applications running millions of transactions,” the service’s website says.

Further, the company announced that the blockchain platform can store data on another database product, saying:

“Managed Blockchain can replicate an immutable copy of your blockchain network activity into Amazon Quantum Ledger Database (QLDB), a fully managed ledger database. This allows you to easily analyze the network activity outside the network and gain insights into trends.”

The QLDB is not a blockchain platform, but can be used in conjunction with Amazon’s blockchain product to “maintain a complete and verifiable history of data changes.”

The service is currently in preview, meaning those interested can sign up. If approved, they will be able to create a blockchain network, at which point they can either invite other Amazon Web Services members or “create more members in your account to simulate a multi-member network,” according to an FAQ section.

This post is credited to coindesk

Two prominent South Korean cryptocurrency exchanges went offline after Amazon Web Services (AWS) servers suffered a nationwide failure.

AWS, one of the world’s leading companies in cloud computing services, suffered from an hour-long network failure in South Korea. The event was responsible for the outage experienced by Coinone and Upbit crypto exchanges.

Many other online businesses also saw their operations stall. Coupang, the country’s biggest online service provider, Market Kurly, a food delivery service, Yanolja, a hotel booking service, and POOQ, an online media service company, all saw their websites go offline.

The problems were resolved within 90 minutes however:

“Between 3:19 PM and 4:43 PM PST we experienced increased error rates in the [Asian-Pacific region] (…) The issue has been resolved and the service is operating normally.”

Coinone and Upbit have since resumed all trading services. Both exchanges were quick to make announcements apologizing and informing users. In order to protect customer assets, Upbit cancelled several trade orders executed before the server went offline.

Minimal Impact

It seems that the outage had little impact on the crypto industry, as only crypto exchanges have reportedly been affected. However, many in the crypto industry speculate that a vast quantity of nodes from popular blockchains are being hosted by cloud computing services.

Back in July, independent researchers claimed that roughly half of the nodes powering the Bitcoin Cash blockchain were being hosted by Alibaba, a rival of AWS. Although the veracity of the claims remains unclear, the outage will for many perfectly illustrate the need for decentralized exchanges (DEXs).

This post is credited to cryptoglobe