Qtum Teams With Amazon Web Services For Blockchain-As-A-Service Solutions

Announcements, Blockchain, News | October 18, 2018 By:

Smart contracts platform Qtum is partnering with Amazon Web Services (AWS) to develop a blockchain-as-a-service (BaaS) solution for enterprises and developers.

Qtum is a blockchain technology and cryptocurrency designed to facilitate the interoperability of major cryptocurrencies such as bitcoin and ethereum, as well as to make smart contracts more secure and easier to handle. It uses a proof-of-stake (PoS) consensus model to reduce the computational challenges and increase scalability throughout the platform.

AWS is a subsidiary of Amazon.com that provides on-demand cloud computing platforms to individuals, companies and governments, on a paid subscription basis. As of 2017, AWS owns a dominant 34 percent of all cloud – infrastructure as a service (IaaS) and platform as a service (PaaS) – while the next three competitors Microsoft, Google, and IBM have 11 percent, 8 percent, 6 percent respectively, according to Synergy Group.

The partnership will see Qtum provide its smart contract development platform on AWS. It will allow AWS users to develop and launch smart contracts “quickly, efficiently, and cost-effectively” using an Amazon Machine Image (AMI). Once the Qtum platform is fully developed, the two companies plan to expand their service offerings to include features explicitly built for end users, developers, and enterprise customers.

“Qtum’s launch on the AWS marketplace provides an easy-to-use and powerful cloud-based solution for end users and enterprise,” said the Qtum Foundation’s CIO, Miguel Palencia. “Anyone who wants to develop and build dapps on the Qtum platform or use it as a staking node will benefit from this.”

Palencia added that they will work together to get feedback from customers about the use cases most in demand and provide guidance to those clients that don’t have much software development resources themselves.

“We’re looking into use cases, and the best way to do it is to have a contact with companies who have those use cases,” Palencia said. “Some clients have their own ideas and their own developers, and some of them want more support from us, want to talk to us directly.”