On March 2, Amazon Web Services (AWS) supported Ethereum, the crypto asset, the second largest crypto asset after Bitcoin, on the Amazon Managed Blockchain, its full managed service. Ethereum on Amazon Managed Blockchain) announced that it has begun providing general availability.
This service is a full managed service that allows you to join a public network or create and manage a private network using Hyperledger Fabric, a general open source framework. Until now, Ethereum was supported through the preview version, but through this announcement, it has become officially available to the public.
The AWS side explained that blockchain can build applications that can execute transactions without a central authority, but it is complex to set up a distributed relationship and is difficult to manage. have.
AWS is taking the distributed financial DeFi as an example of using Ethereum as this service. DeFi is a financial app network built on a blockchain network. It is attracting attention as an alternative to the existing financial system as it has high security and low barriers to participation because it does not require management such as brokers such as securities companies or banks.
Meanwhile, it is pointed out that there are disadvantages such as data reliability problems caused by DeFi asynchronous nodes through Ethereum, problems with data storage expansion, node crashes and long Ethereum software upgrade times using weak open source software.
Therefore, it is said that it is possible to easily prepare an Ethereum node by using the Amazon managed blockchain corresponding to Ethereum this time, and to easily connect to test networks such as Ethereum main networks. AWS explains the benefits of this service in five ways. The first is to establish a secure network, and the second is to enable secure network access through the Ethereum API. The next is that data can be encrypted when it is stored and transmitted, and the fourth is that it is quickly and reliably synchronized to the Ethereum blockchain. The last is the use of data storage that combines durability and flexibility.
The AWS side is expecting that Amazon’s managed blockchain will respond to Ethereum, which will expand the developer base and have a great impact on the ecosystem. Related information can be found here.