Blockchain is one of the most important new technologies to come along in recent years. In underlying cryptocurrencies like Bitcoin and Ethereum, blockchain works by sharing a distributed ledger across a peer network. There’s no need for a central authority to verify transactions; the network as a whole is able to verify them.
Although cryptocurrencies are the most famous use for blockchains, the technology can be used by many other applications that need secure transactions, including in logistics, supply chain tracking, and legal recordkeeping. New services announced by Amazon Web Services in April will make it easier for businesses to start leveraging blockchain technology in the applications they create.
AWS Blockchain Templates
The functionality in Amazon is known as AWS Blockchain Templates, with support for both Ethereum and Hyperledger Fabric. These templates hide the complexity needed to manage blockchains. In fact, using AWS Blockchain Templates, a new Ethereum or Hyperledger network can be activated in just minutes.
The templates for Ethereum networks support a toolkit enabling smart contracts and Ethereum mining. Using the Ethereum blockchain template supports interacting with peers on the public Ethereum network or creating a new public network.
Similarly, the Hyperledger networks can be used to share data in a secure transaction. Unlike the Ethereum blockchain template, the Hyperledger Fabric template supports private blockchain networks as well as public ones.
The secure transactions enable a variety of use cases for industries. One expected use is real-time asset management, with rules attached to support trades and other transactions. Private supply chain networks are also another use with significant benefit to industry.
Using AWS Blockchain Templates
Although the blockchain templates speed development, developers still have the flexibility needed to customize their applications. The templates are open source, making it easy to tailor them. After choosing their blockchain template, developers choose to deploy in a cluster either on Amazon ECS or Amazon EC2 running Docker. Then the blockchain network is configured and deployed, followed by the applications that use it. Developers control choices such as which consensus algorithm is used by the blockchain network. Amazon VPC and IAM provide controls and secure access.
The AWS environment also provides companies with the necessary tools to manage and monitor their blockchains. Like most AWS services, AWS blockchains are pay-per-use, making managing the costs easy as well.
Blockchain is one of the most exciting, transformative technologies to come along. As experts in Amazon Web Services, dcVAST is well positioned to help our clients take advantage of this new offering from Amazon. Our managed AWS services provide 24×7 support to ensure critical applications run smoothly. Contact us to discover how this service can help you take advantage of AWS Blockchain Templates and all the other functionality available on Amazon Web Services.