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

Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche, has partnered with Amazon Web Services (AWS), according to an announcement on January 11, 2023. 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 “meaningful.”

Founder and CEO of Ava Labs, Emin Gün Sirer, comments on collaboration with Amazon Web Services

According to Ava Labs, the company behind the blockchain network Avalanche (AVAX), the firm has partnered 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 AWS will support the Avalanche network and decentralized application (dapp) ecosystem. “Critically, Avalanche node operators can run in AWS Govcloud for Fedramp compliance use — an important capability and a requirement for enterprises and governments,” Wednesday’s announcement said.

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

Founder and CEO of Ava Labs, Emin Gun Sirer, commented on the announcement Wednesday afternoon Eastern Time. “This is a big deal,” Gün Sirer tweeted. “It’s 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] presented this as “AWS partners with Some Chain.” In reality ‘Some Chain’ paid AWS – they were a client of AWS. There was no meaningful partnership.”

The Ava Labs CEO continued:

This announcement is the exact opposite. AWS recognizes how blockchains are evolving, with subnets acting as app chains, and wants to be one of the hosting providers for the many subnets that people are launching.

Avalanche’s native token AVAX jumped on the news, rising 16.2% higher against the US dollar. Seven-day statistics show that AVAX is up 29.1%, and the crypto asset’s market capitalization today is the 19th largest. AVAX is trading for prices between $12.31 to $14.83 per unit in the last 24 hours.

AVAX’s crypto market cap is $4.51 billion as of 4 PM Eastern Time on January 11, 2023. Despite the quick rally Wednesday afternoon following the AWS announcement, AVAX is still down 89% from its November 21 all-time high of $144.96 , 2021. Like solana (SOL), avalanche (AVAX) has taken a big hit during the crypto winter, and since AVAX was once a top ten cryptocurrency contender, it has struggled to hold a position below the 20 threshold . place.

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

Jamie Redman

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