Ethereum’s wild bull run is imminent after Amazon integrates Ethereum and DeFi on its blockchain service. To the moon guaranteed!
On March 2nd, Amazon Web Services came out with an interesting announcement. They announced that Ethereum would now be available on Amazon Managed Blockchain. Well-known for its use in DeFi, Ethereum is one of the most well-known blockchain frameworks globally. Ethereum blockchain allows blockchain developers to make decentralized applications on top of the Ethereum blockchain.
The announcement about AWS supporting Ethereum blockchain comes 5 years after Microsoft Azure’s Ethereum blockchain services was launched in 2015.
What’s the Issue With Ethereum Blockchain?
The open and programmable nature of DeFi makes it different from other financial networks. It doesn’t require a central authority to operate and customers can benefit from new payment, trading, lending, and investing methods that it offers.
Regardless of all the benefits, blockchain developers find it troublesome and challenging to operate and manage their Ethereum infrastructure while building Ethereum-based applications. The problems are plenty but the major ones are out-of-sync nodes leading to data reliability troubles, scaling challenges in terms of data storage, and more.
How is Amazon Web Services Making it Easy for Blockchain Developers?
The support of Ethereum on Amazon Managed Blockchain changes the game. It will allow developers to easily and quickly connect to Ethereum nodes. They would also be able to connect to the public Ethereum main network. Along with this, the upgrade will also allow the developers to test their networks like Ropsten and Rinkeby.
Any developers who want to sign up for Amazon Managed Blockchain will receive multiple benefits. The announcement by Amazon states:
“With Amazon Managed Blockchain, customers get secure networking, encryption at rest and transport, secure access to the network via standard open-source Ethereum APIs, fast and reliable syncs to the Ethereum blockchain, and durable elastic storage for ledger data.”
Developers do not have to worry about the health of the Ethereum nodes and will also make replacements for unhealthy nodes. It will also automate the upgrades of Ethereum software. Thus, effectively improving the availability of Ethereum infrastructure.
One of the core advantages of Amazon Managed Blockchain is its flexibility. It can scale up to meet the demands in terms of the number of applications running and the total number of transactions made on them.
At the same time, Amazon Managed Blockchain makes it easy to create a network or join a public network by eliminating overhead. Amazon’s involvement, even in the form of its support of the Ethereum blockchain on Amazon Web Services, is a big deal for the crypto industry. It opens the path ahead for Amazon to allow users to make payments in cryptocurrencies.
Once that becomes a possibility, there would be no turning back as cryptocurrencies will become an integral part of the global e-commerce industry. It will open the floodgates of opportunities for the crypto space. More and more e-commerce companies will follow suit and start accepting crypto payments in Bitcoin, Ethereum as well as stablecoins like USDT. This is a real possibility now!
Do you think the general availability of Ethereum blockchain on Amazon Managed Blockchain will lead to more involvement of Amazon in the crypto space? Please let us know below in the comments.