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Avalanche - Setting Blockchain Milestones

By Thomas Wolf | Thomas Wolf's Den | 18 Jan 2023


The adoption of blockchain through Ava Labs by Amazon Web Services is an incredible milestone, they have successfully incorporated the benefits of a fully interoperable & highly scalable blockchain into Amazon’s mainstream services.

“What is now proven was once only imagined.” ― William Blake


Ava Labs founded and began development on Avalanche (AVAX) in September 2020, making them a relatively new but seemingly dominant contender in the crypto space, having achieved a pairing as large as AWS so soon after their product launch is very impressive.

Amazon Web Services delivers cloud computing platforms and APIs (Application Programming Interfaces) for developers ranging from individuals, small companies, major corporations, and governments.  They provide a metered, pay-as-you-go service.

In other words, it’s a highly used and prized set of premium services for both the public and private sectors that costs more the more you use it, it’s a monster of a client or partner with many of its own.

Avalanche started out as a protocol solving consensus issues on machines in unstable networks, with particular notice to Byzantine or crash fault failures.  Inspiration was derived from pseudo-anonymous blockchain developers who had published the protocol’s fundamentals in May 2020.

Later, Cornell University researchers Emin Gün Sirer and doctoral students Maofan Yin and Kevin Sekniqi took the lead in project research until achieving a full-fledged workhorse of a Layer-1 blockchain.

Avalanche is decentralized, open-source, provides smart contract support, and operates on a Proof of Stake consensus mechanism.  The source code for the Avalanche chain was released in March 2020 as the AVA DAP (Developer Accelerator Program), shortly followed by the launch of their native token AVAX in September 2020.

The project is the first of its kind decentralized smart contract platform designed for financial scaling at a global level.  The chain has near-instant transaction finality and Ethereum developer support, enabling devs to easily code in Solidity directly on top of the Avalanche layer chain, as well as easy adoption of the interoperable Avalanche financial eco-system (The X-Chain, or cross-chain) and seamless project deployment.

Users can readily launch validator nodes through the Amazon Web Services marketplace with detailed product descriptions, support, and reviews.  The product is available by subscription.  Instructions on how to participate are listed by Ava Labs here.

Avalanche has a video explaining the validator subscription process "How to Launch an Avalanche Validator using AWS?"

The pairing of Avalanche and AWS is aimed at seamless onboarding, management, and the launch of nodes, as well as increasing network flexibility and integrity.  The two companies formed AWS Activate, which is a program that helps startups and aspiring entrepreneurs find their footing.  There are over 500 applications running on the Avalanche blockchain, with that number quickly rising.

Many companies tried to be the first interoperable, base-layer blockchain capable of performing these feats while being able to scale large enough for global uses, but Ava Labs took the cake with their successful product release, business pairings, and application adoption.  I expect to see many, many more decentralized applications built on top of and running inside the Avalanche blockchain ecosystem.

AVAX saw major growth during the ongoing Bitcoin pump, going from $10.66 USD to $18.14 USD, marking an increase of roughly 40% in mid-market price value since the news of the AWS pairing and Bitcoin (BTC) rally began.

This is one project I definitely expect to survive any form of crypto winter, whether this rally continues its run or falls back to the bears.  The current value of AVAX is $17.4 USD at the time of writing due to a Bitcoin pump.  AVAX is supported on prominent exchanges such as KuCoin, Coinbase, etc.

Avalanche appears to provide something many people have worked hard to deliver, and due to the nature of how decentralized applications & next layer blockchains are readily built on top of the native chain, it’s the gift that keeps on giving.

Let me know your thoughts on the excellent progress Avalanche is seeing in the comments.  If there is a hidden evil, I am not seeing it.  Avalanche dotted their i’s and crossed their t’s while their competition slacked; it is time David meets Goliath.

I will release more content on Avalanche / AVAX in the future.

As always, comments & suggestions are highly encouraged.

Stay smart & Stay safe.

-Thomas Wolf

Pronouns: He/Him/His

DISCLAIMER

I am not a certified financial, tax, or legal advisor, analyst, or planner.  The above information should not be considered advice but as an opinion intended to share information and ideas for entertainment and independent research purposes.  I am not responsible for any losses or damages incurred due to misinterpreting my personal opinions for professional advice.

15% of all my writing income is donated to charities via The Giving Block, read more here.


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