The cryptocurrency market has recently experienced a significant rally, with Bitcoin reaching over $18,000 and Avalanche (AVAX) seeing a 30% increase in the past seven days. The reason behind Avalanche’s surge in value is its partnership with Amazon Web Services (AWS), aimed at bringing greater institutional adoption to the cryptocurrency market. As a result of this collaboration, AWS will offer decentralized application services of Ethereum’s rival to its global market, spanning over 100 countries.
This partnership is a significant step towards exposing more people to blockchain technology. In addition to offering decentralized application services, Avalanche is now a member of the Amazon Partner Network (APN), allowing over 100,000 partners to deploy customized offerings on AWS connected to the network. AWS users will benefit from high scalability, fast confirmation time, and low transaction costs, enabling the launch of financial solutions such as stablecoins and blockchain-based payment systems.
Avalanche is also providing AWS customers with a digital asset management platform, allowing them to create and manage custom tokens on the blockchain. The collaboration not only benefits AWS users but also strengthens the Avalanche network by making it more decentralized and secure. Individuals interested in setting up an Avalanche validator node can do so without entering their private keys, ensuring the safety of their cryptocurrencies in case of a security breach.
Running a node on the AVAX network allows investors to receive financial rewards in Avalanche tokens. To become a validator for subnets in the ecosystem, investors can receive rewards in the native tokens of those subnets. While becoming a validator does not require a significant amount of energy, investors need to hold at least 2,000 AVAX, which is equivalent to $31,480 at the current cryptocurrency rate. Different nodes in the Avalanche network, including supervisors responsible for network security and service providers offering network access to applications and end-users, contribute to its functioning.
This year could mark a positive turnaround for Avalanche, especially after being impacted by the collapse of the Terra (LUNA) ecosystem. With partnerships like the one with Amazon, Avalanche’s ecosystem is expected to grow, attracting more attention with its low fees and fast transactions. The network’s support for NFTs and collaboration with companies like Shopify and Ledger further enhance its appeal to investors and users seeking to leverage the benefits of blockchain technology in a secure and user-friendly manner.
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