Amazon Web Services (AWS) is partnering with Ava Labs, the Avalanche Layer 1 blockchain company, to help scale blockchain adoption across enterprises, institutions and governments, the two firms told TechCrunch exclusively.
Avalanche is a blockchain optimized to support NFTs, Web3 games and a unique technology it calls ‘subnets’ that act like custom blockchains built on top of Avalanche but which can have custom rule sets and even use their own token instead of Avalanche’s AVAX to pay network fees for gas.
Avalanche, like Solana and, since the ‘merge’, Ethereum, is based on the proof-of-stake algorithm, but outperforms its competitors on a number of technical characteristics. For example, Ethereum has an extremely slow speed, peaking at 20 transactions per second. Solana has good speeds but experiences regular network outages.
Avalanche demonstrates stable operation with a high level of efficiency. The speed of confirmation of transactions is one of the highest at less than 2 seconds. For comparison, the equivalent figure for Ethereum is 6 minutes.
After the announcement of the cooperation, the Avalanche coin rose in price by 24%. Amazon is not the first major partner for Avalanche. Last month, a similar agreement was reached with Alibaba Cloud, the largest cloud service provider in the Asia-Pacific region.