Avalanche is the first Blockchain to partner with Amazon’s cloud computing unit. The aim of the partnership is to offer ‘Blockchain as a service’ to Amazon’s corporate and government customers. According to Motley Fool crypto expert Dominic Basulto, the technology partnership could be a major catalyst for the future growth of the altcoin project if it results in large numbers of customers adopting Blockchain solutions. The expert discusses this issue at length.
Altcoin could gain more in the long run
Avalanche’s new partnership with Amazon Web Services (AWS) can provide a powerful catalyst for future long-term growth. Don’t look now, but Avalanche (AVAX), which once flew high and lost more than 90% in 2022, is making a comeback this year. cryptocoin.comIn mid-January, Avalanche announced a major partnership with Amazon. This partnership will make it basically the default Blockchain of choice for any customer of Amazon Web Services. Avalanche is now the first Blockchain to partner with Amazon’s cloud computing platform.
To say this is a big deal would be an understatement. In the first 24-hour period after the announcement of the deal, the altcoin price increased by more than 13%. More profits could be made in the long run if Avalanche fully realizes its plan to help businesses and governments around the world bring Blockchain solutions.
Why Avalanche?
One of the most interesting aspects of the partnership is that Amazon chose to partner with Avalanche, not Ethereum. It would have been an obvious choice. When Avalanche was relaunched in September 2020, it was declared the ‘Ethereum killer’ for its superior speed and scalability. But last year this startup hasn’t been kind to Blockchain. That’s why this announcement from Amazon was absolutely surprising.
While the best-in-class speed of the Avalanche Blockchain undoubtedly played a role in Amazon’s decision, one of the key factors definitely has to do with the underlying structure of the Avalanche network, which includes three different Blockchains. These are: Exchange chain, Platform chain, Contract chain. Platform Chaine (‘P-Chain’) allows developers to create their own customizable Blockchain networks known as sub-nets.
Avalanche defines these sub-nets as ‘sovereign networks’ with their own rules and their own tokens. As a result, each sub-net on Avalanche can be scaled and customized according to the customer’s needs. Until now, sub-nets were primarily used by Blockchain games. But now it looks like large businesses and government agencies will also use them.
So, imagine thousands of businesses running thousands of customizable sub-nets all on the Avalanche network. This vision of the future looks like a great way to attract new business customers looking for customized Blockchain solutions to Amazon. And indeed, as part of the deal, Avalanche looks set to become part of the AWS Partner Network and also have a prominent position on the AWS Marketplace. This makes Avalanche a natural choice for anyone who wants to work with Amazon on Blockchain projects.
Is altcoin and AWS partnership ‘win-win’?
The deal looks like a win-win for both Amazon and Avalanche. Emin Gün Sirer, co-founder of Avalanche, said succinctly on Twitter: “This is a big event. This is not your grandfather’s AWS partnership announcement.” Avalanche will gain access to AWS assets and features, while Amazon will have the opportunity to offer ‘Blockchain as a service’ to all partners worldwide. If you think Amazon is dominant when it comes to the cloud, wait until they get involved with the Blockchain.
However, there are certainly those who criticize the partnership. Judging by the descriptions and comments on social media, some Blockchain developers are rightly concerned about a decentralized Blockchain suddenly partnering with a centralized tech company like Amazon. The fear is that Amazon might one day exert so much power and control over the Avalanche. It’s a story we’ve seen over and over in the tech industry: A really hot tech company promising to change the world is assimilated by a big, established tech company focused on profitability, and things change.
Future avalanche of growth
The new partnership is designed to get more businesses, governments and organizations using Blockchain and the cloud. If Avalanche becomes the Blockchain of choice for businesses and governments, it will be huge for Avalanche’s future growth prospects. One caveat though, it’s not clear if there’s any exclusivity to the partnership. Otherwise, it may be possible for other Blockchains to partner with Amazon as well. Avalanche will still have the first mover advantage. But that will make things a lot more competitive.
However, I am optimistic about Avalanche in the long run. After battering more than 90% in 2022, Avalanche could head towards a major landslide recovery in 2023.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.