Amazon Elastic Compute Cloud: Amazon.com enters server rental business market

Amazon.com is one of the largest ecommerce companies out there and they are now diversifying into other businesses by entering the server rental market.

This comes after the company received requests from developers who require massive computing power without having the capital to pay for it up front.

This new service has been named Amazon Elastic Compute Cloud and it would enable the company to deliver services to developers buy hosted server processing services at cheap prices.

Amazon would be charging this service at 10c an hour plus 20c per 1G of traffic and 15c per 1G of storage per month.

Amazon said in a statement on this new development: “It is designed to make web-scale computing easier for developers. Amazon EC2 enables “compute” in the cloud. Amazon EC2’s simple web service interface allows you to obtain and configure capacity with minimal friction. It provides you with complete control of your computing resources and lets you run on Amazon’s proven computing environment. Amazon EC2 changes the economics of computing by allowing you to pay only for capacity that you actually use.”