Amazon claims that any data stored on the platforms will remain the sole property of the person who put it there.

In late November, ETHNews reported that e-commerce giant Amazon announced the development of its Quantum Ledger Database (QLDB) and the Amazon Managed Blockchain.

For those who may not remember, Amazon’s QLDB advertises itself as a “transparent, immutable, and cryptographically verifiable ledger” that will allow customers to securely share transaction data between multiple parties with the help of a “centralized, trusted entity.”

The Amazon Managed Blockchain, on the other hand, is intended to be a blockchain platform managed by Amazon for companies interested in a cost-effective way to use blockchain technology.

How companies like Facebook, Google, and Amazon use the personal data given freely to them by customers is a hotly debated topic. After we reported on the development of the QLDB and the Amazon Managed Blockchain, the question of who would own the information stored on these platforms remained.

ETHNews caught up with Rahul Pathak, general manager of Amazon Blockchain at Amazon Web Services (AWS), to get an answer.

Data Ownership

Pathak wants to assure AWS customers that they will retain ownership of any data they put on the QLDB. According to Pathak, users of this platform will be able to choose which AWS services can “process, store, and host content.” In addition, Pathak stated: “AWS has no access to customer data and customers can choose to encrypt their data, which makes it meaningless to anyone but them.”

When it comes to who will own the data stored on the Amazon Managed Blockchain, Pathak said that, like data stored on QLDB, information put on the Amazon Managed Blockchain will remain the property of the person or company that put said data on the platform. He also stated, “We never use customer content or derive information from it for marketing or advertising.”

(Note: While this may be true for AWS customers, it is not true of all information collected by Amazon. According to the Amazon privacy notice, the company does share customer data with “affiliated businesses not directly controlled by Amazon, third-party service providers, and businesses offering certain promotional offers.”)

Why Distributed Ledger and Blockchain

When talking about Amazon’s reasons for creating the QLDB and the Amazon Managed Blockchain, Pathak stated that the company spent a lot of time speaking with customers about what they wanted in a data storage platform. By conducting these interviews and surveys, Amazon identified two types of customers, each requiring a separate product.

According to Pathak, one customer group wanted a ledger that could be shared among various participating parties – and that could be relied upon to be an immutable, transparent, and cryptographically verifiable transaction log. These customers were happy to work with a centralized, trusted entity to maintain this log.

Amazon found that these customers had sometimes been “using blockchain frameworks,” but this meant they dealt with the “unnecessary complexity of setting up multiple peer nodes, dealing with certificates, and setting up consensus algorithms they didn’t need.” For these customers, Pathak went on, “We built [QLDB] to be an append-only immutable transparent ledger.”

While conducting its research, Amazon also found a significant number of customers that wanted an immutable record of transactions but also desired decentralized trust. For this reason, the Amazon Managed Blockchain was developed.

Pathak, unsurprisingly, sang the product’s praises:

“The Amazon Managed Blockchain service takes care of provisioning nodes, setting up the network, managing certificates and security, and managing and scaling the network so customers can focus on their applications and not the undifferentiated heavy lifting of keeping a blockchain network running.”

The Future

More generally, Pathak expects that blockchain will be used more extensively within the coming years, particularly for “transactions that require a consensus across multiple parties, or that need to be stored in a transparent and immutable way.” He added that the technology is still in its infancy but he is excited to see the improvements made to the technology and the applications that will be developed in the coming years that will help Amazon’s “ecosystem of customers and partners innovate in new and exciting ways.”

This post is credited to ethnews

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