17 May 2019 11:20, UTC

A patent that has begun to circulate, reveals that Amazon may be looking into crypto-related systems, like Proof of Work and Merkle Trees. The document, filed under the jurisdiction describes a system that has a “first party” complete computational work to gain access to a computing resource. The document’s abstract also mentions hash trees, which are also referred to as Merkle Trees.

Bitcoin, Ethereum, and other blockchains use a very similar system. Funnily enough, however, the patent did not mention “cryptocurrency”, “blockchain”, or “Bitcoin” at all, and instead described the Proof of Work system in immense detail, specifically touching on how it could be used to mitigate DOS (denial of service) attacks from bad actors. Despite the lack of cryptocurrency or digital asset-related discussion, the patent mentioned SHA-256, which is the hashing algorithm that Bitcoin and related crypto assets use.

Some crypto enthusiasts have taken this news as a sign that Amazon is joining the cryptocurrency revolution. As Morgan Creek’s Anthony POMPLIANO wrote on Twitter, “there’s not a large company in the world who isn’t going to join the revolution.”

BREAKING: Amazon has filed a patent in the US for a proof-of-work system that leverages cryptography.



There’s not a large company in the world who isn’t going to join the revolution.



THE VIRUS IS SPREADING — Pomp (@APompliano) 16 мая 2019 г.

Amazon representatives didn’t provide any comments yet.

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