Amazon’s crypto patent fuels unfounded Bitcoin rumors

The possibility that Amazon will open its doors to Bitcoin seems to be an important milestone for many people. Amazon has recently been granted a patent that talks about Proof-of-Work. Does that say anything about Amazon’s crypto plans?

Defense against DoS attacks

Amazon’s patent describes well-known terms for the crypto world, including Proof-of-Work, and the brand tree based on cryptography. The step to crypto currency or blockchain is then quickly made.

In reality, Amazon gets an old idea out of the closet. In 1992, Cynthia Dwork and Moni Naor first discussed Proof-of-Work based systems. At the time, it did not yet have that name – it followed in a 1999 report by Markus Jakobsson.

The most well-known pre-Bitcoinse PoW software is hashcash, an e-mail tool that could be used to combat so-called DoS attacks. In the context of the distributed version thereof, the DDoS, Amazon plans to use PoW as a defense. That is what the patent relates to.

Crypto currency is not mentioned

Nowhere in the patent are terms such as crypto, cryptocurrencies, or blockchain mentioned. Amazon is a major player in the cloud services market, and dealing with DDoS attacks is an (expensive) business. How and whether this patent is reflected in this is still unknown.

It is also in that context that Amazon does hit the blockchain world. Amazon recently made its cloud solution for so-called managed block chains available to the public. This way, Amazon makes it easier to create and manage scalable blockchain networks.

So when are we going to see the Amazon Coin? Nobody knows – Amazon has never said anything about it and there is no reason to speculate about it so far.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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