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Nouriel Roubini on Amazon’s new blockchain services; says it is a centralized database

Namrata Shukla



Nouriel Roubini on Amazon's new blockchain services; says it is a centralized database
Source: Unsplash

Nouriel Roubini, famously called Dr. Doom in the crypto world, commented on the Amazon Web Services [AWS] announcement of launching two new blockchain services. Roubini commented on the service saying that it is not a blockchain, but a centralized database. Roubini tweeted:

Roubini’s remark garnered the attention of cryptocurrency enthusiasts who were divided on Dr. Doom’s statement. A Twitter user commented:

“a Blockchain is a concept for representing information in a structured way. it says nothing about central or decentralized. That aspect only comes into play, when there is more than one Blockchain at the same time, and you want to converge to just one. POW is a mechanism for that”.

Some others dismissed his comment as a joke. Another Twitter user said,

“Slowly, you are starting to get it. Now, read the cypher-punk manifesto.”

AWS’s Chief Executive Officer, Andy Jassy, announced the launch of the Amazon Managed Blockchain on Wednesday. This service will underpin blockchain networks that register millions of transactions. Jassy mentioned that the company has spent the past year studying the requirements of clients in blockchain solutions before creating new products.

This service by Amazon supports two blockchain frameworks, Ethereum, and Hyperledger Fabric. Jassy spoke at ReInvent 2018 conference and said:

“This service is going to make it much easier for customers to use the two most popular blockchain frameworks.”

Jassy, in his keynote at the conference, also mentioned that the companies use Hyperledger Fabric when they are aware of the number of members in their blockchain and want strong private operations and capabilities. The web service assures to scale thousands of application and will enable users to carry out millions of transactions, reported Techcrunch. Jassy added in his note:

“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted. And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”

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Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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