Last Tuesday a patent surfaced indicating that Amazon is looking at a Proof-of-Work (PoW) system, the system on which Bitcoin and the majority of the altcoins are built.
Not surprisingly, the patent has caused a lot of rumors, despite the fact that companies regularly submit blockchain-related patents. It is striking that the document does not mention bitcoin, cryptocurrency or blockchain technology, but rather a detailed description of the intended PoW system, which should be used as a protection against denial of service (DOS) attacks. Yes, you may not know it, but the PoW principle was initially intended for, among other things, combating e-mail spam.
Although nothing is said about cryptocurrency or blockchain, something is said about SHA-256, the hashing algorithm that uses Bitcoin, among other things.
The above story is now spreading like wildfire, with the assumption that Amazon will participate in the cryptocurrency revolution.
BREAKING: Amazon has filed a patent in the US for a proof-of-work system that leverages cryptography.
There is not a large company in the world who is not going to join the revolution.
THE VIRUS IS SPREADING
– Pump (@APompliano) May 16, 2019
General Manager at Amazon Web Services informed Decrypt Media at Consensus that if customers care, the company will review it to see if it suits the company. Obviously not a very satisfactory answer.
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