Amazon Managed Blockchain: Amazon Managed Blockchain is a fully managed service that makes it easy to create and manage scalable blockchain networks using the popular open-source frameworks Hyperledger Fabric and Ethereum. Blockchain makes it possible to build applications where multiple parties can execute transactions without the need for a trusted, central authority.
Today, building a scalable blockchain network with existing technologies is complex to set up and hard to manage. To create a blockchain network, each network member needs to manually provision hardware, install software, create and manage certificates for access control, and configure networking components. Once the blockchain network is running, you need to continuously monitor the infrastructure and adapt to changes such as an increase in transaction requests, or new members joining or leaving the network.
Amazon Managed Blockchain is a fully managed service that allows you to set up and manage a scalable blockchain network with just a few clicks. 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.
Once your network is up and running, Managed Blockchain makes it easy to manage and maintain your blockchain network. It manages your certificates, lets you easily invite new members to join the network, and tracks operational metrics such as usage of computing, memory, and storage resources.
In addition, 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.
Amazon Managed Blockchain Benefits
Secure and Scalable
To scale the blockchain network can easily be done by Amazon Managed Blockchain as the usage of your application. The Amazon Managed Blockchain’s API can add a new peer node by the network member to create and validate transactions. It allows you to select the instance types that compromise the combination of CPU and memory to provide flexibility to choose the resource of your workloads. You no need to set your own secure key storage for network certificates the Blockchain secures it with SAWS key Management Service technology.
You can create a blockchain network for multiple AWS accounts to allow group members to share data without a central authority and execute transactions. The Amazon Managed Blockchain removes manual provisioning hardware, the software configures, security components and network set up. So, no need for self-hosting your own infrastructure. The network participants can add or remove with the help of voting API in Blockchain. For example, a new member has added the Amazon managed blockchain allows to launch, configure multiple blockchain peer nodes to process transaction requests and can store a copy of the ledger. The blockchain always monitors the networks and automatically replaces poor nodes.
Hyperledger Fabric or Ethereum
The Hyperledger and Ethereum are the two well-liked blockchain frameworks in the Amazon managed Blockchains. The Hyperledger Fabric is used for those applications that require privacy and authentication for known members. For example, a financial application that requires business data is shared with a few selected banks only. Whereas the Ethereum is used for the distributed blockchain network where clearness of data is important for all the members. For example, the customer chain blockchain network allows the retailer in the network to verify the user’s activities independently to rescue benefits.
The Amazon managed Blockchain develops the reliability for “ordering service” i.e., a component in the Hyperledger Fabric framework makes sure the delivery of transactions throughout the blockchain network. The default offering service in the Hyperledge Fabrics does not store a complete history. So, the blockchain’s ordering service is built-in with amazon QLDB technology that has an inflexible log that maintains the complete history of all transactions in the blockchain network and helps to save the data.