AWS to Distribute Credits to Avalanche Projects
Cloud computing giant Amazon Web Services has partnered with Ava Labs to encourage development on the Avalanche blockchain, the companies announced Wednesday.
Ava Labs is the company developing Avalanche. The blockchain’s native token, AVAX, surged more than 22% on the news Wednesday.
AVAX Price, Source: The Defiant Terminal
Amazon Web Services (AWS) will contribute “substantial amounts of AWS credits to projects looking to deploy subnets on Avalanche,” Ava Labs founder and CEO Emin Gün Sirer wrote on Twitter.
“This is a big deal. It’s not your grandfather’s ‘AWS partnership announcement.’”
Avalanche is a smart contract protocol that bills its Layer 1 C-chain as a low-cost alternative to Ethereum, which alarmed users in 2021 with skyrocketing transaction fees. AWS, meanwhile, is the world’s leading cloud infrastructure provider that raked in revenue of $19B in the third quarter of 2022.
Avalanche offers a multichain framework composed of application-specific “subnets” built on top of its main chain. Subnets have driven much of the growth in the Avalanche ecosystem of late, according to crypto data firm Nansen.
Avalanche Surges to New High in Boost for ‘Subnet’ Strategy
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In a blog post, Ava Labs said the partnership aims to speed the adoption of blockchain technology in business and government.
“Avalanche node operators can run in AWS GovCloud for FedRAMP compliance use cases — a vital capability and a pre-requisite for enterprises and governments,” Avalanche said.
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- Source: https://thedefiant.io/avalanche-aws-partnership/