Amazon Patent Casts Light on Plans to Create Proof-of-Work Blockchain Analog
William Suberg's original article for cointelegraph.com reduced by 51%
Retail behemoth Amazon has received a patent for generating Merkle trees as a solution to the proof-of-work algorithm, a document confirmed on May 14. Amazon, which has taken an increasing interest in blockchain technology in recent times, now appears to be targeting development of a specific variation of the instrument. Specifically, the patent targets Merkle trees - a data verification tool - to constitute the work required in a PoW setup.
The exact nature of Amazon's plans remains unclear. As Cointelegraph reported, rumors Amazon was preparing to take a direct interest in bitcoin, for example, have repeatedly sparked a frenzy within the crypto community, each time culminating in nothing. In February, Changpeng Zhao, CEO of exchange Binance, claimed Amazon would ultimately have no choice but to issue some form of cryptocurrency.
Late last month, Amazon Web Services publicly launched its enterprise blockchain setup network, based on Ethereum and Hyperledger technology.
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