The incorporation of AWS has been characterized as a step by IOST as one that will assist in expanding the Web 3.0 world.
Protocol for decentralized blockchain networks As IOST wants to accelerate its expansion in the Web 3.0 industry, it has announced that it will be integrating with Amazon Web Services (AWS).
Once the protocol is revealed, Amazon Web Services will contribute to powering up its eco-system and enhancing its products concerning its core Web 3.0 solutions.
“By partnering with AWS, IOST intends to incorporate AWS Web 3.0 services into its eco-system and improve its services in DeFi, NFT, GameFi, Web 3, and the metaverse,” IOST declared (1).
“IOST will enlist more people globally to build a safe and distributed virtual economic structure,” the statement continued.
“Utilizing AWS’s global reach, robust system computing resources, AI/ML tools, and decentralized IT architecture.”
IOST is positioned in the market as a lightning-quick operation that has developed all of the capabilities necessary to operate independently.
It is powered by a consensus technique called Proof-of-Believability, which is adhered to by both the nodes it has developed on its own and the wallets it uses.
Applications that are planning to launch new online services in the not-too-distant future are the best candidates for the IOST blockchain protocol. Due to its extensive capabilities and scalability, it is ideally suited for the implementation of such functionalities.
The integration on AWS is a way to strengthen its resilience in terms of having stable protocol infrastructure.
The cloud services provided by Amazon Web Services (AWS) have earned a stellar reputation in both the Web2 and Web3 ecosystems. Because of its reputation for reliability, the company receives business from the most important service providers in both of these ecosystems.
Amazon Web Services has made significant efforts to give targeted support for Web3 businesses with technologies that can help drive scalability with the advent of blockchain technology. This support has the potential to help promote scalability.
The fact that IOST has decided to join the growing number of organizations that have chosen to use AWS demonstrates that the cloud provider’s attempts to float functioning blockchain templates to compete with its contemporaries like IBM are paying off favorably.
IOST and AWS collaboration
The incorporation of AWS has been characterized as a step by IOST as one that will assist in the expansion of the Web 3.0 world.
“As we continue to work together to realize the full potential of Web 3.0, this cooperation marks a crucial milestone in our journey. ”
The release states, “We are optimistic in our capacity to extend and enhance the IOST eco-system with the help of Amazon infrastructure and expertise.”
According to information provided by investing.com, the price of one IOST coin increased by more than 9%, reaching a new all-time high of $0.012850, as a direct result of the announcement.
The rise of the coin over the past few years has demonstrated that the protocol required the appropriate lifting that the scalability that Amazon can offer can provide.
The crypto winter’s effects were detrimental to the protocol, and as a result, the price dropped to an all-time low of $0.006468 during the preceding 52-week period.
The relationship with AWS has brought the IOST protocol to the forefront, and as a result, the expectations of more eco-system partners about the digital currency have been revived.