Amazon Wins Two Blockchain Related Patents: Cryptography and Distributed Storage

Internet retail behemoth Amazon was recently awarded two blockchain-related patents.

The patents related to cryptographic signatures and expandable data grids, signal a race to patent more of the open-source innovations occurring in the space.

Nov. 13: Amazon was awarded two blockchain-related patents, further solidifying its presence as a potential contender for blockchain services.

The official award of one of the patents concludes a several-year-long filing, dating back to 2015.

The second patent, Extending Grids in Data Storage Systems, describes a method for creating extendable shards in a database.

The patent covers areas similar to those leveraged in torrent blockchain-based data storage projects such as Siacoin, Arweave, and Filecoin.

The news comes months after Amazon stepped into the crypto space with its data streaming marketplace patent.

Amazon's rush into securing blockchain-related patents mirrors similar moves by other Fortune 500 companies.

Amazon may be using this string of patents to jockey with major competitors and reinvigorate its flatlining 33 percent market share.

The growth in patents is seen as a positive signal for cryptocurrencies and the technology overall.