Yat Siu
Co-Founder and Executive Chairman
Animoca Brands
Where is Web3 headed? Take a look to the future with this pioneering investor in the metaverse and NFTs.
Yat Siu
Co-Founder and Executive Chairman
Animoca Brands
Where is Web3 headed? Take a look to the future with this pioneering investor in the metaverse and NFTs.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Yat Siu
Co-Founder and Executive Chairman
Animoca Brands
Where is Web3 headed? Take a look to the future with this pioneering investor in the metaverse and NFTs.
Yat Siu
Co-Founder and Executive Chairman
Animoca Brands
Where is Web3 headed? Take a look to the future with this pioneering investor in the metaverse and NFTs.
IOST, the native token of the IOST Network, surged by 8.65% after the company announced that it has struck a deal to integrate with Amazon Web Services (AWS).
IOST, which stands for Internet of Services Token, will look to enhance its decentralized finance (DeFi), non-fungible token (NFT), GameFi and web3 offerings by integrating with AWS’ web3 solutions, according to an announcement.
The network will use AWS’ AI tools and decentralized internet architecture, the announcement added.
Last month CoinDesk reported that Amazon Web Services had been looking to hire for several web3-focused roles, with another report claiming that AWS is preparing to built its own NFT marketplace.
IOST is a native blockchain that was released to the public in 2018, it aims to achieve 100,000 transactions per second (TPS).
The IOST token is currently trading at $0.127, rising from a low of $0.113 before the announcement was made. Trading volume is up 548% to $66 million, according to CoinMarketCap.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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Cryptocurrency investors are excited after IOST, an online blockchain-as-a-service company, announced a deal with Amazon Web Services (AWS).
In the agreement between IOST and AWS, AWS will become the first global cloud platform partner for IOST and will help IOST build a blockchain-powered infrastructure to develop and deploy blockchain applications.
The news refreshed investors’ enthusiasm and the digital currency surged more than 8 percent on Wednesday, becoming one of the biggest cryptocurrencies in terms of market capitalization. It has gained more than 12 percent in the last seven days.
IOST’s current market cap is over $1.2 billion and its token is currently trading around $0.012, rising from its previous price of $0.011.
Commenting on the deal, Jimmy Zhong, CEO of IOST said, ”We are delighted to be joining forces with a cloud services provider like AWS with its company’s global resources. This strategic partnership allows us to move our infrastructure operations to the cloud. This way, we can focus on product innovation, increase liquidity and develop new features for our users, partners, and developers.”
He further added, ”AWS customers will also benefit from this deal since the cloud platform, through its cloud infrastructure and services, can now easily create, deploy and manage their blockchain apps and projects. We look forward to continuing our work with AWS, to drive a prosperous future.”
From a technical perspective, if the company meets their goals of scaling up their network, it could be a long-term bullish signal as more users and institutions adopt IOST’s services, and if the company manages to expand its partnership with AWS, it could see greater gains in the near future.
All in all, the news of the partnership between IOST and AWS has been taken positively by the market, which has been rewarded with an increase in price of the IOST token. We hope that with the help of AWS, this blockchain powered-infrastructure will bring more liquidity and new features for users, partners and developers.
