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New AWS blockchain-inspired platform achieves 70% cost savings with scalable architecture

A collaboration was formed to create a new gold trading platform based on Blockchain Technology running on Amazon Web Services

A derivatives marketplace and a government-owned mint production company collaborated to create a new gold trading platform based on Blockchain Technology running on Amazon Web Services. They needed a Blockchain Validator Solution capable of controlling transaction flow within a private network on the cloud.

Uncertainty in expected network transactions volume required a cost-effective “scale on-demand” architecture solution. This needed a high level of data and transaction security including rigorous fault tolerance with high up-time SLAs.

MajorKey implemented an AWS solution and provided ongoing AWS Managed Services post-launch to locate all development, testing, and production environments allowing for instant scaling in a ”pay for what you use” model. Amazon CloudWatch services allowed MajorKey to monitor cloud use 24x5 with full real-time supervision. World-class DevOps best practices and tools were used to maintain the environment. Our flexibility allowed the marketplace to update servers and enable more instances on-demand with Amazon Machine Images (AMI).

In Conclusion

Our client achieved an average cost savings of 70% per month on AWS compared to their on-site servers. Through CloudWatch, monitoring cost 60% less than before. The client now has a highly scalable and fault tolerant Cloud environment managed by our Cloud Managed Services group. In the end, it took 50% less time to build and deploy our solution than with an alternative resource.

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