Amazon and Komodo Work Together to Release a 60-Second Blockchain Builder Tool “Chainlizard”
It might be possible for blockchain projects and crypto teams to create their blockchain network in just 60 minutes. In order for this to happen, Amazon and Komodo are working together to enable the creation of blockchains in less than 60 seconds. This information was released on February 20 by Amazon in a blog post.
Interested users will now be able to create a new blockchain network in less than 60 seconds. Although there is an alpha version live, the complete version willbe released during the second quarter of 2019. It will includenodes, a block explorer and also a software wallet.
At the moment, there are more than 2000 different blockchain projects in the market that are offering opportunities to users and experts alike. However, there might be dozens of new projects launched in the near future thanks to this partnership.
Decrypt tried the new service setting up a blockchain in under 60 seconds. They’ve called it Decrypt Chain and it tok for them just a few short steps. In order to do so, they have created the name for the blockchain network, they’ve selected the pre-mined coins and entered the number of nodes that Amazon Web Services was going to make available.
Although it was possible for Decrypt to set up their blockchain, it was not possible to do something serious with it. Indeed, it is necessary for companies to set up their own nodes. This is something that requires more technical knowledge and might take a longer time to be created.
At the moment, the price to create this blockchain is $60 per month and it will be based on the Komodo network. Komodo’s CTO, Kadal Stadelmann, mentioned that it is possible to charge customers around $160. At the moment, Amazon’s blockchain service that runs on top of Hyperledger Fabric costs $500 month for a testnet.
With this low entry price and lower barriers for companies to start creating their blockchain networks, new projects could start to grow in the market.
Currently, Komodo is the 47th largest blockchain network with a market capitalization of $110 million. Each coin can be purchased for almost $1.