The more people troll about this Blockchain industry and Cryptocurrencies, the more it seems to get its quality of being open to the public. Blockchain is normally used to solve decentralization problems acting as a ledger and getting rid of middlemen in our socio-economic lives. In our financial lives currently, we have Cryptocurrencies being one of the applications that run on the Blockchain. I believe confidently that soon a time to come this will be the next generation of the internet as it thrives in solving a lot of problems for humanity as the human race always want to improve their standard of living. In the world of internet developers, Blockchain is a set of protocols that uses a complex set of encryption in data tracking and storing. Adding up, I believe this Blockchain industry is not just a technology, just like footballers and musicians having a lifestyle, the Blockchain technology is also a culture in a sense that its short existence and the impact its making cannot be compared with any other industry.
As the Industry keeps growing we are getting world-class companies tapping in to make use of such incredible technology. Such companies are Huawei Corporations and Amazon. These world-class companies just launched cloud Blockchain platforms for developing decentralized application and that is huge for the whole industry as more people expecting bullish news.
The Amazon Managed Blockchain(AWS)
Socio-economically Amazon has launched its own managed Blockchain to affects people’s lives and to solve its customer needs. Amazon Managed Blockchain was built specifically to remove centralized activities. It provides the simplest way to build a decentralized application and a scalable blockchain network for businesses
The AWS provides a database with high performance such that ;
- Transaction information is tracked and verified with the AWS blockchain system.
- Every information regarding two parties in business on the AWS is cryptographically verifiable.
- It allows multiple parties to transact business without a trusted central authority.
- Each member on these platforms have access to store a local copy of the ledger and can verify for accuracy all the time.
- All committed transactions are attributable to one or more entities, providing complete transparency to all members. In allowed blockchain frameworks, such as Hyperledger Fabric, transparency can be configurable such that only a selected group of peers can access information.
Amazon designed this Blockchain such that it is a fully managed ledger database that provides a satisfactory transparency, which cannot be muted and be able to cryptographically verify every single transaction log owned by a trusted central authority.
The BCS Blockchain Platform by Huawei Corporation
This BCS Blockchain platform was designed to support and develop decentralized applications for businesses. It provides the ability to develop, bring in use, and manage blockchain applications with a low cost on the Huawei Cloud. This platform is such that, it will bring transformation in the Blockchain ecosystem and transform the industry. Its use cases are on a level of vastitude, which exhibits the basic Blockchain features; traceability of transactions, proof of work, the impossibility of being tampered with, and it being used in Identity authentication, food source tracing, remote healthcare, Data transaction, etc.
I Am CryptoRas.