Avalanche (AVAX) Partners with Amazon: A Complete Guide

 

The cryptocurrency market has seen a significant rally over the past few days, with Bitcoin (BTC) reaching above $18,000. However, Avalanche (AVAX) has emerged as one of the top performers, surging over 30% in the past week. The reason behind this is Avalanche's partnership with Amazon Web Services (AWS). Both parties have announced that the partnership aims to increase institutional adoption in the cryptocurrency market. As a result, AWS will provide Avalanche's decentralized application services to its entire market.

This partnership could be a significant step in exposing more individuals to blockchain technology, as Amazon operates in over 100 countries. Additionally, the collaboration extends beyond Amazon's cloud computing services and covers other aspects of the platform as well.

As per the information shared by Avalanche, the blockchain network has also become a member of the Amazon Partner Network (APN). This enables APN to assist customers in deploying customized offerings on AWS, which is connected to over 100,000 partners. AWS users will now have access to the Avalanche network, which offers high scalability, fast confirmation times, and low transaction costs. This partnership can also 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 custom tokens on their blockchain. The decentralization factor is also a highlight of this partnership, making it more accessible for individuals to start and manage nodes on Avalanche, strengthening the network, and making it more distributed, resulting in higher integrity.

To start validating a node on the AVAX network, users do not need to enter their private keys, ensuring that they do not lose their cryptocurrencies if someone invades the cloud processor to which they are validating transactions.

This news for Amazon users, and even for cryptocurrency investors who were not yet aware of the partnership facilitation, may feel more attracted to set up an Avalanche validator node and enjoy the benefits of doing so. AVAX investors receive financial rewards through the Avalanche token by running a node. Additionally, they can become a validator for subnets in the ecosystem and receive rewards in the native token of those subnets. Valuing the environment, to be a validator, you do not need to spend a lot of energy.

However, if you intend to help the network in this area, you should keep in mind that at the time of writing, to be part of this team, you need at least 2,000 AVAX. At the current cryptocurrency rate, this amount corresponds to $31,480.

Other nodes that make up the Avalanche network are:

• Supervisors: responsible for ensuring the security of the network, monitoring validators and punishing those who try to violate the rules.
• Service Providers: provide access to the network for applications and end users.

This year could be a tremendous positive turnaround for Avalanche, which was severely impacted by the collapse of the Terra (LUNA) ecosystem. With partnerships such as this one with Amazon, and its attractive network with low fees and fast transactions, Avalanche may garner more attention this year. For example, this has already started with its non-fungible tokens (NFTs) now supported by Shopify. Even well-known brick-and-mortar cryptocurrency wallet Ledger has rebuilt its Avalanche apps to ensure that storing cryptocurrencies and using dApps on the decentralized platform is more intuitive and secure.