Amazon Claimed Two Blockchain Related Patent – E-commerce giant, Amazon claimed two blockchain related patents which are related to cryptographic signatures and expandable data grids and thus joined the club to compete in the decentralized economy.
These patents were filed in 2015 but were awarded on November 13th, 2018. By this, Amazon became a potential contender for blockchain services. The first patent is Merkle-tree based data scheme. Merkle-trees are the innovations which made blockchain services possible. It facilitates the right usage of data, peer-to-peer connection and in participants authenticity.
The Extending Grids in Data Storage System provides details about the steps for creating extendable shards in a Database. Amazon has been aware of the importance of the bitcoin, as the second patent is useful for considerable flexible datasets which are currently in the blockchain.
The patent spreads zones like those utilized in deluge blockchain-based information stockpiling ventures, for example, Siacoin, Arweave, and Filecoin. Maybe Amazon may strike its next multi-billion-dollar-a-year money cow and add one of these administrations to its effectively sweeping AWS contributions.
The news comes a very long time after Amazon ventured into the crypto space with its information spilling commercial center patent. The patent, granted in April, portrayed a multi-spilling administration for following exchanges and different information for Bitcoin and different cryptos.
Amazon Claimed Two Blockchain Related Patent -Like many fortune 500 companies, Amazon is rushing towards securing the blockchain-related patents. Every big company wants to secure their place in the decentralized economy. Once after securing their own place in the blockchain, they can do proprietary claims to make a profit. Xerox, Bank of America, Square and JP Morgan are using open source software to stake -out proprietary claims on the new technology.
Amazon has increased its market share by three times by increasing its stronghold on cloud computing and data storage. However, Google, IBM, Microsoft, and Alibaba have been turning up the heat, and the latter two have also been delving into blockchain technologies. Although open-source, IBM’s Hyperledger has gained considerable traction.
Cryptocurrencies are increasing the growth of patents by fortune companies. More the giant companies enter the decentralized space more it becomes legitimate for the end users. There might be a clash between the existing startups and organizations employing the technology,
But its clear the race has begun to bring blockchain to the mainstream.