Amazon has a new framework for companies – Amazon QLDB (Quantum Ledger Database) as a competitive service to Amazon Managed Blockchain (AMB).
Amazon QLDB (Quantum Ledger Database) is a type of Ledger technology that draws advantages over blockchain (AMB) for organizations that need a secure database. QLDB is a fixed, cryptographically verifiable database that interfaces with multi-party applications with “centralized trusted authority.”
Today, Amazon Web Services offers Amazon Managed Blockchain customers for this application. But, customers have applications that need a centralized ledger. They need to keep track of all changes or transactions and keeps permanent records of those changes.
Quantum ledger database
The Quantum ledger database and service have a variety of uses. Services, like for example the closing of contracts, data sharing, transaction, or for instance account status tracking. QLDB framework covers also data reconciliation between supply chain systems and centralized accounting book.
Blockchain is a decentralized framework and requires approval from network members before making new transactions in a shared ledger. This approach significantly slows the ledger’s performance. Above all, this solves the Amazon QLDB service. Both frameworks together cover professional market needs.
Amazon.com, Inc., is an American multinational technology company based in Seattle, Washington. The company focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Four technology companies along with Google, Apple, and Facebook.
Managed Blockchain by Amazon
It is one of the companies that test blockchain and related technologies for some time. Earlier of 2019, they introduced competitive Amazon Managed Blockchain (AMB). It is a complete blockchain solution for companies that can test the use of a blockchain network in just a few mouse clicks.
The company was founded by Jeff Bezos on July 5, 1994, in Bellevue, Washington. The company initially started as an online marketplace for books but later expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry. In 2018, Bezos announced that its two-day delivery service, Amazon Prime, has over the 100 million subscribers worldwide.