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

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Ava Labs, the team behind the Avalanche Layer 1 (L1) smart contract platform network, has partnered with Amazon Web Services (AWS), according to an announcement on January 11, 2023. Founder and CEO of ‘Ava Labs, Emin Gn Sirer, said the collaboration was a “big deal” and, in comparison to other blockchain announcements involving AWS, he insisted that this partnership was “meaningful”.

Ava Labs Founder and CEO Emin Gn Sirer Comments on Collaboration with Amazon Web Services

According to Ava Labs, the company behind the Avalanche blockchain network (AVAX), the company has partnered with Amazon Web Services (AWS) to “accelerate blockchain adoption by businesses, institutions, and governments. “. The team released the announcement on January 11, 2023, and said AWS would support the Avalanche network and the decentralized application (dapp) ecosystem. “Critically, Avalanche node operators can run in AWS Govcloud for Fedramp compliance use cases – a vital capability and prerequisite for enterprises and governments,” Wednesday’s announcement detailed.

At AWS, we want to bring the most advanced technologies to builders, whether they sit in a multimillion-dollar enterprise, a government office, or a dorm room, Howard Wright, vice president and global head of startups AWS said in a statement. . The new features brought by Avalanche allow us to do just that. We were excited to add an innovator like Ava Labs to our partner network and support new tools for the Avalanches infrastructure and ecosystem, helping to expand its adoption to new geographies and new customer segments.

AVAX/USD on January 11, 2023 at 3:42 p.m. (ET) via Coinbase.

Ava Labs Founder and CEO Emin Gn Sirer commented on the announcement Wednesday afternoon Eastern Time. This is a big deal, Gn Sirer tweeted. This is not your grandfather’s AWS partnership announcement. Let me explain in plain language. In the past, other chains have paid AWS to host certain nodes, and [have] launched it as an AWS partner with Some Chain. In reality, Some Chain was paying AWS, they were an AWS customer. There was no meaningful partnership.

The Ava Labs executive continued:

This ad is the exact opposite. AWS recognizes the evolution of blockchains, with subnets serving as appchains, and wants to be one of the hosts for the many subnets people are about to launch.

Avalanche’s native token, AVAX, surged on the news, rising 16.2% against the US dollar. The seven-day stats 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.

AVAX’s crypto market cap is $4.51 billion as of 4:00 p.m. EST on January 11, 2023. is still down 89% from the all-time high of $144.96 on November 21. 2021. Like solana (SOL), avalanche (AVAX) has taken a heavy hit during the crypto winter, and since AVAX was once a top ten cryptocurrency contender, it is struggling to maintain a position below the threshold of 20th place.

Tags in this story adoption, Amazon, AVA Labs, Avalanche, Avalanche (AVAX), AVAX, AVAX Marketplace, AWS, AWS Hosting, Blockchain, builders, Capitalization, CEO, Compliance, Cryptocurrency, cutting edge, Emin Gn Sirer, company, Fedramp, Govcloud, Government, growth, Innovation, institutional, market, AVAX Market, significant, network, Node, operators, partnership, platform, Services, technologies, Token, web

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 manager for Bitcoin.com News and a fintech journalist living 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 over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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