Altcoin News: Amazon Patented a Cryptographic System on the Proof-Of-Work Mechanism

May 17, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Amazon Corporation this week received a patent for the use of various methods for creating cryptographic systems based on the Proof-of-Work mechanism, similar to those used in blockchains of cryptocurrencies.

Initially, the application was issued by the company in 2016. It describes the principle of generating the Merkle tree in the process of solving PoW-tasks, which can then be used to verify data transmitted between computers and in peer-to-peer networks to confirm the reliability of the blocks.

According to the application, the proposed solution may be useful in preventing DoS and DDoS attacks that computer networks are often subjected to.

“Requesting valid evidence of the work done can weaken such attacks since their participants will have to generate correct solutions, which may require computational resources in the attacked systems and significantly reduce the frequency with which individuals participating in such attacks can send requests,” the company writes.

The patent mentions the concept of “cryptographic key” and “digital signature”, but does not disclose concepts such as, for example, the blockchain or cryptocurrency.

This week, Amazon Web Services general manager Rahul Pathak commented information about the possibility of his company issuing its own cryptocurrency or integration of cryptocurrency payments.

“If it’s something that matters to customers, we’ll find a way to have a point of view of it that makes more sense,” he said.