Ava Labs partners with Amazon Web Services to accelerate blockchain adoption, AVAX jumps 16%

Ava Labs founder and CEO Emin Gün Sirer said the collaboration was a “big deal“and, compared to other blockchain announcements involving AWS, he insisted that this partnership is “significant.”

Ava Labs founder and CEO Emin Gün Sirer comments on the collaboration with Amazon Web Services.

According to Ava Labs the company behind the Avalanche blockchain network (AVAX), has partnered with Amazon Web Services (AWS) to “Accelerate the adoption of blockchain by businesses, institutions and governments.“The’team released the’announcement on January 11, 2023, and said that’AWS will support the Avalanche network and the decentralized application (dapp) ecosystem. “It is critical that Avalanche node operators can operate in AWS Govcloud to Fedramp a vital capability and prerequisite for enterprises and governments“, the Wednesday announcement states.

At AWS, our goal is to bring the most cutting-edge technologies to builders, whether they are in a multi-million dollar enterprise, a government office, or a dorm room” said Howard Wright, the vice president and global head of AWS startups, in a statement. “The new capabilities Avalanche brings enable us to do just that. We are excited to add an innovator like Ava Labs to our partner network and support new tools for Avalanche’s infrastructure and ecosystem, helping to expand its adoption to new geographies and customer segments.

Read:  FTX: Sam Bankman-Fried moved $684,000 in crypto assets while under house arrest
Ava Labs partners with Amazon Web Services to accelerate blockchain adoption, AVAX jumps 16%.

Ava Labs founder and CEO, Emin Gün Sirer commented on the announcement on Wednesday afternoon, Eastern time. “It’s a big deal“, said Gün Sirer. tweeted. “This is not your grandfather’s AWS partnership announcement. Let me explain in plain English. In the past, other channels have paid AWS to host certain nodes, and presented this as a partnership between AWS and a certain channel. In reality, ‘Some channel was paying AWS – they were an AWS customer. There was no meaningful partnership.

The Ava Labs framework suite:

This announcement is exactly the opposite. AWS recognizes how blockchains are evolving, with subnets serving as appchains, and wants to be one of the hosting providers for the many subnets that people are about to launch.

Avalanche’s native token AVAX jumped on the news, rising 16.2 percent against the U.S. dollar. Seven-day statistics show that AVAX is up 29.1%, and the crypto asset’s market capitalization is now the 19th largest. AVAX is trading at prices between $12.31 and $14.83 per unit over the past 24 hours.

Read:  Inflation in Germany reaches double digits for the first time since World War II

AVAX’s crypto market capitalization is $4.51 billion as of 4 p.m. Eastern time on January 11, 2023. Despite Wednesday afternoon’s quick rise after AWS’s announcement, AVAX is still down 89% from its all-time high of $144.96 on Nov. 21, 2021. Like solana (SOL), avalanche (AVAX) took a big hit during the crypto-currency winter, and while AVAX was once a top 10 crypto-currency contender, it has struggled to maintain a position below the 20th place threshold.

The Best Online Bookmakers December 02 2023

BetMGM Casino