Categories: Bitcoin Business

Amazon Files Crypto Patent, Sparking Rumors of Bitcoin Integration

Click here to view original web page at cryptomaniaks.com

According to recent reports released by the company and itself and the many individuals excitedly watching their developments, Amazon recently filed a patent involving the cryptographic proof-of-work system in order to better strengthen their current systems. As a result, rumors have been spreading that this may be an indication that they will be accepting cryptocurrency payments on their platform or that they may even be involved in the development of their own cryptocurrency project.

However, it seems as though Amazon is sticking with their current track record of not being involved with crypto (which has already led many developers to produce similar products as a result of Amazon’s refusal to integrate with crypto) as this patent solely focuses on the application of blockchain technology to the operations that they have in place.

Amazon breaks down this choice in the course of its patent application, stating:

“Computer networks have evolved to provide sophisticated functionality in a large variety of contexts. Providing such functionality, however, often involves complex systems that malicious entities may try to exploit. One such attack involves denial-of-service attacks, which can be disruptive to computer systems on a network. In a distributed denial-of-service attack, for instance, large numbers of requests are sent to a computer system to attempt to overload the computer system. One way to mitigate against such attacks is to configure a service such that requests to the service incur some sort of expense, thereby providing disincentive to participating in the attack. One such expense involves imposing a condition that a client submitting a request expend more computational resources (e.g., CPU cycles) to cause the request to be fulfilled.

Given that Amazon’s interest does not hint at crypto, we can only surmise that they are not planning on implementing these digital assets into their payment options any time soon. However, we may see this in the future should Amazon find more value in crypto and see it as a vital way to improve business operations.

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

I hope you enjoyed your read!

  • Own a website? Link to this article!
  • Willing to spread the love? Share it on social!
cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin Price Forecast: BTC/USD Volume Could Indicate A Breakout

Bitcoin’s daily volume spike could create a necessary condition for a breakout. Traded price ranges continue to constrict. Bitcoin’s Bullish… Read More

4 hours ago

Billionaire Tim Draper: Bitcoin Will Hit $250,000 By 2022

Billionaire venture capitalist Tim Draper told BlockTV that in the next several years, Bitcoin could reach $250,000 per coin. "$250,000… Read More

4 hours ago

Maduro Mandates Petro-Financed Public Housing Scheme in Venezuela

Embattled Venezuelan leader Nicolas Maduro looks to expand Petro adoption through a new housing initiative. | Image: REUTERS /THIRD PARTY.… Read More

4 hours ago

Malware InnfiRAT Targets Bitcoin And Crypto Wallets

The malware named InnfiRAT could be stealing bitcoins and cryptocurrency wallet information. It is usually downloaded through email attachments and… Read More

4 hours ago

Bitcoin (BTC) Interest in China Driven by Price Action News

Share Tweet Send Share Baidu search trends in 2019 show Chinese bitcoin interest being driven largely by price action news.… Read More

4 hours ago

Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd

Max Boonen is founder and CEO of crypto trading firm B2C2 . This post is the second in a series… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More