It shouldn’t come as a surprise that Amazon has entered blockchain and other associated projects. Recently the company announced, its secure cloud services platform Amazon Web Service (AWS) is offering AWS Blockchain templates for both Ethereum and Hyperledger Fabric project (IBM’s blockchain-as-a-service offering).
Amazon has already placed its mark in different industries and now with AWS Blockchain templates it is venturing into the newly emerging “blockchain-as-a-service” (BaaS) offering.
What is Blockchain-as-a-Service (BaaS) and How it Works?
A way to access blockchain technology without incurring much costs.Blockchain technology is on rise and everyone wants to use it, but the cost involved in it is huge and people still look at it with an eye of suspicion. Due to which Blockchain as a Service (BaaS) is used. The businesses who want to use blockchain but are skeptical get benefited via BaaS (outsourcing the development of blockchain).
In short it means you pay a company to set up blockchain connected nodes and manage backend things for you.
‘BaaS’: ‘B’ stands for (blockchain) and ‘aaS’ is (as a service) the recent business jargon meaning offerings provided by a supplier for its users. It is a means to an end.
You can think of BaaS as the land owner who gives his property on rent and takes care of the rest by arranging things for you. Similar to Software As A Service (SaaS) model commonly used in information technology industry.
AWS Blockchain service was launched late last week and is supposed to give a tough competition to offerings from Oracle Corp (ORCL) and International Business Machines Crop (IBM). Few reports show Alphabet Inc’s Google (GOOGL) is also working on blockchain product that is likely to be offered through its cloud business. Besides this there are other competitors too like Huawei, which announced its Blockchain Service, built on Hyperledger. It is said that it will work in collaboration with Chinese tech companies, including Baidu and Tencent.
What is AWS Blockchain Templates
AWS Blockchain Templates a quick and simple technique to create and establish blockchain networks by means of popular open source frameworks. The templates are certified to work on open-source framework and therefore, help to concentrate on blockchain application development instead of spending time, energy and money in manually setting up blockchain network.
One can select either of the two control features: distributed consensus algorithms or access control. In accordance to this they can then create other necessary things like smart contracts, apps, and permission and access control system, to perform smooth connections/transactions on the blockchain. The blockchain network is created in your own Amazon Virtual Private Cloud (VPC), allowing user to use VPC subnets and network Access Control Lists.Users don’t have to pay any additional charge for using AWS Blockchain Templates. They just need to pay for the resources required to run blockchain network.
Amazon Virtual Private Cloud (VPC) allows you to launch AWS resources into a virtual network defined by you. It is like the network that you use in your data center, with the benefits of using the accessible infrastructure of AWS.
Benefits of AWS Blockchain Templates
|Fast Distribution||Choice||Management Tools||Pay-as-you-go|
|Businesses can quickly and easily get started with blockchain by deploying Amazon Elastic Container Service (ECS) and Amazon EC2 instances. Once they are installed they can start emphasizing on application construction.||Organizations can select from most popular frameworks, Ethereum and Hyperledger Fabric. Each of them offering distributed consensus algorithms, smart contract functionality and access control features.||AWS Blockchain Templates contain additional mechanism to manage, monitor and browse your blockchain||Pay only for the resource you use. Start-up and shut-down on-demand based on the necessity of your application.|
AWS Blockchain Template for Ethereum
Ethereum is an open source platform for application developers it permits users to pen down blockchain based applications that are used as they are programmed without interruption, restriction, deception or third-party intrusion. If you like peer-to-peer transaction, want to construct a public network or want to use smart contracts language Ethereum AWS Blockchain Templates should be selected.
AWS Blockchain Template for Hyperledger Fabric
Hyperledger Fabric an open source framework from Linux. It allows users to pen down blockchain based applications and offers access control permission for data stored on blockchain. If you wish to develop undisclosed blockchain network, or want to restrict the visibility of transactions Hyperledger Fabric AWS Blockchain Template should be used.
How it works? To use the AWS templates user needs to choose the framework as container on an Amazon Elastic Container Service (ECS) cluster, or directly on EC2.
The user needs to create blockchain network in their Amazon VPC, letting them to use their network Access Control Lists and VPC subnets. They can even grant permission using AWS IAM and restrict the resources that can be accessed.
To know more about it you can visit the “getting started” page.
AWS Blockchain Template is surely a great step taken by Amazon. Using any of the two templates offers businesses can create blockchain based application. Ethereum network allows user to create public and private network whereas with Hyperledger Fabric only private networks can be created. Overall the process requires user to make few clicks and spend few minutes to get things working.
Ethereum template offers Amazon ECS option and a docker-local option. They can run within a VPC.
The new templates are said to make development of blockchain based projects and install blockchain networks via open source frameworks.
Next Read: Things That Make Us Doubt Cryptocurrencies