Ava Labs Partners With Amazon Web Services To Accelerate Blockchain Adoption, AVAX Rises 16% – Blockchain Bitcoin News

Ava Labs, the team behind the Avalanche network, a layer-one (L1) smart contract platform, is partnering with Amazon Web Services (AWS), according to an announcement made on January 11, 2023. Ava Labs founder and CEO Emin Gun Sirer said the collaboration was a “big deal” and insisted that compared to other AWS-related blockchain announcements, this partnership “makes sense.”

Emin Gun Sirer, founder and CEO of Ava Labs, comments on cooperation with Amazon Web Services

According to Ava Labs, the company behind the Avalanche (AVAX) blockchain network, the firm is partnering with Amazon Web Services (AWS) to “accelerate enterprise, institutional and government adoption of blockchain.” The team published the announcement on January 11, 2023, saying that it will support the AWS Avalanche network and decentralized application (dapp) ecosystem. “Critically, Avalanche node operators can run on AWS Govcloud for Fedramp-compliant use cases – a vital capability and prerequisite for enterprises and governments,” Wednesday’s announcement detailed.

“At AWS, we’re all about bringing the most advanced technologies to developers, whether they’re sitting in a multimillion-dollar enterprise, a government office, or a dorm,” said Howard Wright, VP and global head of AWS startups, in a statement. “The new capabilities that Avalanche brings allow 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 into new geographies and customer segments.”

Ava Labs partners with Amazon Web Services to accelerate Blockchain implementation, AVAX rises 16%
AVAX/USD Jan 11, 2023 at 3:42 PM (ET) via Coinbase.

Founder and CEO of Ava Labs, Emin Gün Sirer, made the announcement Wednesday afternoon Eastern time. “This is a big thing,” Gun Sirer he tweeted. “This is not your grandfather’s ‘AWS partnership announcement.’ Let me explain in plain English. In the past, other chains have paid AWS to host some nodes and [have] introduced it as “AWS partners with Some Chain”. In fact, “Some Chain” was paying AWS – they were a customer of AWS. There was no meaningful partnership.”

Ava Labs executive continued:

This ad is the exact opposite. AWS recognizes how blockchains are evolving, with subnets serving as application chains, and wants to be one of the hosting providers for the many subnets people are about to launch.

Avalanche’s native token, AVAX, rose 16.2% against the US dollar following the news. Seven-day statistics show that AVAX is up 29.1% and the cryptocurrency’s market capitalization is the 19th largest today. AVAX has been trading between $12.31 and $14.83 per unit over the past 24 hours.

AVAX’s cryptocurrency market capitalization is $4.51 billion as of January 11, 2023 at 4:00 PM ET. Despite a sharp rally Wednesday afternoon following AWS’s announcement, AVAX is still down 89% from its Nov. 21 all-time high of $144.96. 2021. Like Solana (SOL), Avalanche (AVAX) took a big hit during the crypto winter, and AVAX is struggling to stay below the 20th spot as it was once a top ten crypto contender.

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How do you believe this partnership between Ava Labs and Amazon Web Services will impact future enterprise blockchain adoption? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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