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- Avalanche has partnered with Amazon-backed Amazon Web Services (AWS) to accomplish a few goals.
- Soon after the company Ava Labs announced a deal with AWS, its token AVAX surged by a few percent.
- At the time of writing, AVAX was trading at a price of $16.22.
Cryptocurrency platform Avalanche (AVAX) has collaborated with Amazon Web Services (AWS). Both parties claimed that such partnership will prompt massive adoption of blockchain technology by governments, enterprises and more.
The AWS motive is to provide decentralized application services to its users with the help of Ethereum’s rival which is known for its scalability and speed. This partnership may prove to be a way out for masses to gain exposure to blockchain tech. Avalanche becomes the first blockchain partner with the AWS platform.
‘Win-Win’ for both giants
The cloud computing services of Amazon.com, provides storage, database, compute, and others via its data centers set up in over 20 nations in 100 plus regions as of June 2022. Also, the e-commerce giant founded in 1994 serves its users in more than 200 countries and territories across the globe.
Emin Gün Sirer, CEO of Ava Labs stated that: “It has been a huge boon for both individual and enterprise developers to be able to spin up nodes and test networks on the fly with AWS in whatever legal jurisdiction makes the most sense for them.”
Avalanche is regarded as a cut-throat competitor of Ethereum. It enables smart contracts and decentralized applications (dApps) to support several types of blockchain projects. Its ecosystem currently processes over 4,500 transactions every second. The platform, launched in 2020, promises users for versatile, secure, affordable, accessible and speedier services.
The CEO Sirer posted on Twitter: “To this end, they will be contributing substantial amounts of AWS credits to projects looking to deploy subnets on Avalanche. They, along with AliBaba, understand where the blockchain tech is going and they want to partner with the one chain that is delivering the vision.”
According to media reports, it’s token AVAX saw a 30% hike after the announcement was out in the news. The reason behind many people not adapting to decentralized finance (DeFi) is it’s complex structure. This move may solve this problem, attracting more participation from retail segments in the markets. At the time of writing, AVAX was trading at $16.22 at a trading volume of $570.06 million in the past 24-hours, according to CoinMarketCap.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
