Amazon’s weapon of choice? Emin Gün Sirer’s Avalanche. While many were uncertain going into the new year, which was not to be blamed after the series of unfortunate events in 2022, e-commerce giant Amazon doubled down in choosing Avalanche to bring scalably blockchain solutions to enterprises and governments.
Amazon stepping into the world of web3 is a monumental one, the largest cloud computing service in the world teaming up with Avalanche has sparked good news in the crypto markets.
This was evident in $AVAX’s price action jumping from $12.33 to $16 in hours which is a massive 30% pump in the 7-day statistic. This brought Avalanche to being the 15th biggest crypto in market capitalization.
Avalanche’s Emin Gün Sirer comments
According to Avalanche’s CEO, Emin Gün Sirer, this partnership is huge. Previously, previous chains that utilized AWS to host nodes were all paid partnerships. “In reality, SomeChain was paying AWS; they were a client of AWS. There was no meaningful partnership.”
Not going to mention any names but
This partnership between Avalanche and AWS is completely different. With the emerging interest in blockchain technology over recent years, AWS aims to be a hosting provider using Avalanche’s subnets as appchains for the many subnets people will launch.
AWS will support Avalanche’s infrastructure and decentralized application (dApp) ecosystem, alongside one-click node deployments, through its marketplace. The affiliation will also include Ava Labs joining AWS Activate, a program that helps startups and early-stage entrepreneurs get started on its platform.
Is it all well and good?
The answer to that question is a straightforward yes and no. At Breakpoint 2022, Solana’s conference, Google cloud announced many new contributions they will bring to the Solana ecosystem for Q1 of 2023. However, after the fall of FTX, the rejoicing of the crypto market was short-lived.
So playing the “big tech company partnerships with blockchain” narrative has not been fully tested in a longer time frame. However, FOMO buying is prevalent across the new drops.
Find out more in this thread below why that spells bullish news for Solana fans.
While price action is only a reactive indicator, some spoke on the issue of the partnership skewing away from decentralization.
Some even talk about how subnets require much security to retain their sovereignty.
All in all, the step taken to integrate tested and proven web2 systems with the idea of blockchain technology is a win for us. For that to come to fruition, we must see how each partnership delivers what it is said to do.
Solana and Google cloud, Avalanche and AWS, who next? Polygon and Microsoft’s Azure???
Also Read: Here’s Why The Crypto Market is Up Today
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: Chain Debrief