Amazon and Avalanche collaborate to accelerate blockchain adoption
Over the past few days, the value of Bitcoin and the digital currency market have grown significantly. But as usual, Bitcoin wasn’t the biggest winner of the rally. Avax digital currency (AVAX) has experienced a 30% increase in value in the last seven days.
According to Valx and quoted by U.today, one of the main reasons for the improvement of investors’ view of Avax was the publication of the news of this network’s cooperation with Amazon Web Service (AWS). Both sides have stated the reason for their cooperation is to improve the organizational acceptance of digital currencies.
In this way, Amazon Web Services will publicly offer its decentralized application services for the Avalanche network to its entire market. This partnership can have a tremendous impact; Amazon offers its services in more than 10 countries. In addition, these services do not only include the cloud computing service of this company.
According to a document published by Avalanche, this blockchain network is a member of the Amazon Partner Network (APN). In this way, APN will be able to provide customized services in the field of digital currency to more than 100,000 customers.
AWS users will be able to access the Avalanche network and enjoy benefits such as high scalability, fast block confirmation times, and low transaction fees. This issue will help companies to provide their financial solutions such as stable coins and blockchain-based payment systems easily. Avalanche provides AWS customers with a dedicated dashboard to manage their tokens on their blockchain. One of the main winners of this partnership will be the active nodes of the Avalanche network. This issue will also help to improve the decentralization of the network.
You won’t need to enter your private key to become a validator in Avalanche. This feature is designed to keep your crypto assets safe if someone gains access to your cloud computing space.
Also, in addition to the main network, those interested can become validators of Awax ecosystem subnets and benefit from their exclusive rewards.
Currently, the stake required to become a validator in the AVAX network is 2000 coins, which at the current price of AVAX will require a capital of $31,000.
Avalanche’s analysis shows that the network, once considered one of the main options to challenge Ethereum’s dominance of smart grids, needs such partnerships to grow again.
With features such as low fees and high speed, this network can have a bright year ahead in 2023. In recent months, the network has partnered with e-commerce platform Shopify to support its NFT tokens.
Also, the famous Ledger hardware wallet has updated the Avalanche network support software, which allows users of this wallet to interact with the Avalanche network more easily.
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