A Story of AWS with Coinbase💰

Aditya N
3 min readSep 22, 2020

What is AWS and Coinbase and we need to know it ?

Coinbase is one of the world’s rapidly growing Bitcoin Wallet in the world and the first regulated bitcoin exchange in the United States.

AWS is called as Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform, offering over 175 fully featured services from data centers globally. Millions of customers — including the fastest-growing startups, largest enterprises, and leading government agencies — are using AWS to lower costs, become more agile, and innovate faster.

Bitcoin is a form of digital currency that is created and stored electronically. The company, which supports 3 million global users, facilitates bitcoin transactions in 190 countries and exchanges between bitcoin and flat currencies in 26 countries.It provides an API for the developers and merchants can use to build applications and accept bitcoin payments.

Coinbase

The real life problems which coinbase is facing daily and thriving to solve with the backing of AWS are:

Since its founding in 2012, Coinbase has quickly become the leader in bitcoin transactions. As it prepared to respond to ever-increasing customer demand for bitcoin transactions, the company knew it needed to invest in the right underlying technology.

Security, Scalability, Data analytics were some of the major concerns of the company to deal and come up with the better solution with the globally abrupt of Bitcoin and many other crypto currency some of the best tools required to solve the problem??🤔

So AWS comes as a Angel 😇 to solve the real world problems like Security, Scalability and many more with AWS in the director Rob Witoff and his company revamped there process with AWS cloud.

“The company began designing the new Coinbase Exchange by using AWS Identity and Access Management (IAM), which securely controls access to AWS services. “Cloud computing provides an API for everything, including accidentally destroying the company,” says Witoff . “We think security and identity and access management done correctly can empower our engineers to focus on products within clear and trusted walls, and that’s why we implemented an auditable self-service security foundation with AWS IAM.” The exchange runs inside the Coinbase production environment on AWS, powered by a custom-built transactional data engine alongside Amazon Relational Database Service (Amazon RDS) instances and PostgreSQL databases. Amazon Elastic Compute Cloud (Amazon EC2) instances also power the exchange.”- Rob Witoff

The services which are actively being used by Coinbase Amazon Kinesis, AWS Lambda, AWS Lambda, Amazon Elastic MapReduce, Amazon Virtual Private Cloud, Amazon Redshift and many more…

Some of the Benefits are

  1. By using AWS, Coinbase can concentrate even more on innovation.
  2. complete seamless performance.
  3. Ability to scale across the globe with the touch of a button
  4. One-to-many analytics delivery to easily view performance metadata

Thank you for reading 😃

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