The cryptocurrency market has witnessed a spectacular rally in recent days. The leading crypto Bitcoin (BTC) made a run that extends above $ 21 thousand. The leading altcoin Ethereum (ETH), on the other hand, managed to rise above $ 1,500 and protect it. In addition, important partnerships and updates continue in the market. One of them was Avalanche (AVAX), which set the agenda in partnership with Amazon. This partnership was reflected in the altcoin price, posting an increase of over 40% on a weekly basis.
Avalanche (AVAX) and Amazon partnership
As Cryptokoin.com reported, Avalanche (AVAX) collaborated with Amazon Web Services (AWS). Both parties stated that they signed this partnership to bring more institutional adoption to the crypto market. Avalanche CEO Emin Gür Sirer announced the news of the partnership with great enthusiasm.
https://twitter.com/el33th4xor/status/1613240492392603665
Therefore, AWS will offer Avalanche’s decentralized application (dApp) services to its entire market. Amazon conducts its work in more than 100 countries. So the partnership could be an important step for more people to get acquainted with Blockchain technology. The partnership, meanwhile, is not exclusive to the platform wing of Amazon’s cloud computing services.
According to Avalanche’s statement, the blockchain network is also a member of the Amazon Partner Network (APN). Therefore, it now enables APN to help customers deploy customized offers on AWS connected to over 100,000 partners. AWS users will be able to access the Avalanche network and take advantage of high scalability, fast confirmation times and low transaction costs. Therefore, the collaboration can help companies launch financial solutions such as stablecoins and blockchain-based payment systems. In addition, Avalanche will provide AWS customers with a digital asset management platform, allowing them to create and manage private tokens on Blockcains.
What will the partnership bring for Avalanche nodes?
In the meantime, attention should be paid to the decentralization factor. Because, this is one of the prominent features of the partnership that has taken place. With collaboration, it has become more accessible for people to start and manage nodes on Avalanche. This added strength to the network. It also made the network more distributed and provided high integrity. You don’t need to enter your private keys to start verifying a node on the AVAX network. This ensures that you do not lose your cryptocurrencies if someone enters the cloud processor you are verifying transactions.
For Amazon users, it may be more tempting to set up an Avalanche validator node and take advantage of it, even for crypto investors who are not yet aware of this news and partnership facilitation. AVAX investors get financial rewards through Avalanche token by running a node. Additionally, they can be validators for sub-nets in the ecosystem and receive rewards in the native token of these subnets. Also, you don’t need to spend a lot of energy to value the environment, to be validator. However, if you are considering helping the network in this area, you should keep in mind that you need at least 2,000 AVAX to be a part of this team. At the current crypto currency rate, this amount corresponds to $ 31,480.
Does Avalanche (AVAX) affect price performance?
This partnership could be a tremendous positive spin for Avalanche, which has been severely impacted by the collapse of the Terra (LUNA) ecosystem. A few partnership tweaks that impact Avalanche’s ecosystem like Amazon’s will bolster this. With an attractive network with low fees and fast transactions, the features of the cryptocurrency may also attract attention this year. For example, this has already started with Non Fungible Tokens (NFT) now powered by Shopify.
At press time, AVAX was trading at $16.85, down 0.89% in the last 24 hours. However, the altcoin has gained 42% in the past week.
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