Crypto AWS

LeoFinance
1 month ago
2 Min Read
356 Words

shubham-dhage-208asI7iZiU-unsplash.jpg
If you think Amazon is an online retail store, then you need to rethink it again. Amazon is an online cloud rental service. If you think Coinbase is a crypto bank, then you need to think about it again. Coinbase is a cloud crypto rental service.

Here is 1 min summary of the article if you want to skip the reading.
Crypto AWS

Amazon - A Server Farm
Amazon has built up a server farm for many other businesses to rent and use. They built the infrastructure that provides computer resources to run businesses on the platform including many features. Similar to the idea of crypto mining nodes, Amazon provides computing hubs to users and prevents internet outages.

Coinbase Crypto Hub
Coinbase wants to achieve the same hub idea for crypto. Each blockchain has its individual internet services and layers of infrastructure running on top of that. Coinbase wants to provide a service that can run consistently without potential outage and DApps and other crypto projects can run on the blockchain and on the top of Coinbase service.

Centralized Service Hub
Only the problem with such an idea is that blockchain is decentralized and autonomous. The centralized hub will create a single point of failure and it defeats the purpose of the blockchain.

Decentralized Blockchain-based Internet
Since the internet will create a single point of failure, why don’t we create a blockchain-like internet with many nodes to provide internet speed and to eliminate the potential single point of failure?

Decentralized Blockchain-based Cloud Service
Perhaps there will be an infrastructure to have many hubs/nodes to support cloud computing and provide solutions without a single point of failure. Nodes will have sufficient computing power to support clouds and provide consistent service without possible interruption. Crypto projects can then run on the decentralized clouds and users can access anywhere they want to.

In conclusion
Coinbase is ambitious to become crypto AWS. However, decentralized cloud computing can easily outperform Coinbase.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Note: Cross-references of this article have been created by the author and have been cross-referenced on multiple platforms here.

Resources
https://en.wikipedia.org/wiki/Amazon_Web_Services
https://www.forbes.com/sites/stevenehrlich/2021/12/01/inside-coinbases-budding-plan-to-become-the-aws-of-crypto/

Posted Using LeoFinance Beta