ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
Buy Crypto Now
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Amazon Earns Patent For Proof-of-Work Cryptographic System

KryptoMoney Staff by KryptoMoney Staff
May 18, 2019
in News
0
Amazon | Patent | Proof-of-Work Cryptographic System | PoW
0
SHARES
43
VIEWS
Share on FacebookShare on Twitter

Amazon is awarded a patent for various techniques to build a proof-of-work (PoW) cryptographic system on Tuesday by the U.S. Patent and Trademark Office (USPTO).

Initially filed in December 2016, the patent outlines how Merkle trees, a concept dating back to 1979, can be generated as a solution to a proof-of-work challenge, among other benefits. A Merkle tree structure enables verification of the data sent between computers, and on peer-to-peer networks such as blockchains, it could be to ensure blocks are not falsified.

As for PoW, it is an algorithm employed to protect networks by asking a service participant to do “work”, i.e using the computer’s processing power to solve complex mathematical puzzles. For instance, the bitcoin blockchain network uses a PoW algorithm for the work done by miners.

In this particular case, the Merkle tree creation will be the work that the algorithm demands, as stated by Amazon. The patent explains:

“A proof-of-work system where a first party (e.g., a client computer system) may request access to a computing resource. A second party (e.g., a service provider) may determine a challenge that may be provided to the first party. A valid solution to the challenge may be generated and provided for the request to be fulfilled.”

The patent further adds:

“The challenge may include a message and a seed, such that the seed may be used at least in part to cryptographically derive information that may be used to generate a solution to the challenge. A hash tree [or Merkle tree] may be generated as of generating the solution. ”

PoW will aid in preventing frequent attacks such as denial-of-service (DoS) and distributed denial-of-service (DDoS) from hitting the network,  Amazon further elaborates:

“Requiring a valid proof-of-work may mitigate a DOS or DDOS attack by causing the participants of the DOS or DDOS attack to generate a valid proof-of-work solution, which may require the use of computational resources on the attacking systems and dramatically reduce the rate at which entities participating in the attack may send requests.”

While the patent also outlines concepts such as  “cryptographic key,” “digital signature” and “public signing key,” that are related to blockchain and cryptocurrencies, the patent does not directly discuss either of the two.

Just this month, the firms’ cloud computing arm, Amazon Web Services (AWS), launched its Managed Blockchain service for wider use among enterprise clients. Currently, the service supports open-source framework Hyperledger Fabric, support for ethereum network is in the pipeline and might be released later this year.

Read more:Bitfinex Will List Leo, It’s New Exchange Token on 20th May

Image source – Pixabay.com

Tags: AmazonBlockchain Newsblockchain patentsBlockchain technologyblockchain updatesCryptocurrency NewsLatest Cryptocurrency NewsLatest Cryptocurrency UpdatespowProof of work
Previous Post

Bitfinex Will List Leo, Its New Exchange Token on 20th May

Next Post

As Per Kik CEO, Ted Livingston The Firm Spent Over $5 Million On Negotiations With US SEC

Next Post
KiK | Ted Livingston | US SEC | Cryptocurrency

As Per Kik CEO, Ted Livingston The Firm Spent Over $5 Million On Negotiations With US SEC

Recent Stories

As NFTs Frenzy Catches On, Here Is Why NFTs Related Tokens, Audius (AUDIO), NFTX, FLOW Are Rallying

As NFTs Frenzy Catches On, Here Is Why NFTs Related Tokens, Audius (AUDIO), NFTX, FLOW Are Rallying

March 6, 2021
Altcoins Blow HOT! Uniswap Enters Top 10, Crypto Market Recovers As Senate Passes $1.9 Trillion Relief

Altcoins Blow HOT! Uniswap Enters Top 10, Crypto Market Recovers As Senate Passes $1.9 Trillion Relief

March 6, 2021
XRP Price Analysis: Bulls Await Fresh Rally on XRP/USD Beyond $0.5, Ripple Gains Legal Victory in Tetragon Lawsuit

XRP Price Analysis: Bulls Await Fresh Rally on XRP/USD Beyond $0.5, Ripple Gains Legal Victory in Tetragon Lawsuit

March 6, 2021
What’s Next for Bitcoin and Ethereum Price Amid Market Uncertainty? THETA, Terra Attain New All-Time Highs

What’s Next for Bitcoin and Ethereum Price Amid Market Uncertainty? THETA, Terra Attain New All-Time Highs

March 5, 2021
IOTA Price Analysis: Steady Climb on IOTA/USD to $1.50 Ahead of Coordicide Rollout, Bitfinex Adds IOTA As Collateral

IOTA Price Analysis: Steady Climb on IOTA/USD to $1.50 Ahead of Coordicide Rollout, Bitfinex Adds IOTA As Collateral

March 5, 2021
ETH Price Analysis: Upside Run Resumes As ETH/USD Fixate on $2K, Bolstered By On-Chain Metrics

ETH Price Analysis: Upside Run Resumes As ETH/USD Fixate on $2K, Bolstered By On-Chain Metrics

March 4, 2021
Venture Capital Investor Tim Draper Says Netflix May Be Next Fortune 100 Company To Purchase Bitcoin

Venture Capital Investor Tim Draper Says Netflix May Be Next Fortune 100 Company To Purchase Bitcoin

March 3, 2021
BlackRock

Citigroup Says Bitcoin Could Be At The Verge Of a “Massive Transformation Of Cryptocurrency Into The Mainstream.”

March 3, 2021
Bitcoin Retests $52K, On-Chain Data Indicates Long Term BTC Holders Were Not Fazed by the Recent Correction

Bitcoin Retests $52K, On-Chain Data Indicates Long Term BTC Holders Were Not Fazed by the Recent Correction

March 3, 2021
BTC Price Analysis: Buyers Weigh Up BTC/USD Price Beyond $52,000 As Stimulus Bill Sparks USD Bears

BTC Price Analysis: Buyers Weigh Up BTC/USD Price Beyond $52,000 As Stimulus Bill Sparks USD Bears

March 3, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.