Algorand Now On Amazon Web Services Marketplace

February 22, 2022 4:16 pm Comments

Guardrail, a leading cloud solutions provider, has just announced that Algorand will now be available on AWS marketplaces which will allow many users to easily deploy Algorand.

AWS is considered one of the biggest marketplaces in the entire world and the addition of Algorand on their would essentially cement its credibility as a blockchain ecosystem and raise mass awareness.

The release will allow for quick deployment of nodes and metrics show that up to 1000 nodes can be deployed and operated within 30 minutes now that its on AWS.

FXStreet reports:

The release marks a single and quick deployment of Algorand’s nodes on the AWS network. Up to 1,000 Algorand nodes can be operated across 24 regions within 30 minutes with its arrival on AWS.

Guardrail acts as an alternative to API aggregators, boosting the capacity of the Algorand blockchain for building applications in its network. Chris Econn, the CEO of Guardrails was quoted as saying:

AWS isn’t complex, it’s powerful. Algorand isn’t complex, it’s powerful.  We applied 13 years of experience with AWS to ensure nothing stands in between our customers and realizing that power.

The cloud solutions provider will distribute the source code to its clients and keep sharing latest updates of Algorand’s node versions on GitHub.

Algorand’s development and research teams would validate releases and certify them for higher participation.

ALGO investors and holders are anticipating that this recent move would allow for quicker growth of the blockchain and the anticipation has already had a positive effect on the current price.

Guardrail will also boost the technical capacity of Algorand by acting as an alternative to API aggregators which will allow for more building of applications on the blockchain.

So far, the ecosystem appears to be growing at a decent pace with steady development leading to a larger number of applications being launched recently.

For example, the AlgoFi DEX recently launched where the decentralized exchange is now considered the DeFi hub of Algorand.

Besides taking advantage of the recent interest in decentralized exchanges, it has recently also made headway into the NFT space.

Yahoo reports:

While the platform seemed to progress on the ecosystem front, its price action was largely bearish, much like the top coins such as Cardano, XRP, and even Ethereum.

Bitcoin’s volatile move over the last week has caused the global market cap to dip down to the $1.70 Trillion mark at press time. Alongside Bitcoin and Ethereum, most of the large-cap and mid-cap altcoins, too, were making lower price lows.

At press time, Algorand traded at $0.8014, noting 3.26% daily and 15.03% weekly losses. ALGO was currently sitting at the six-month low price level, down 75.33% from its all-time high price.

While ALGO trading at this low price level gives massive upside to the traders and investors in the mid-short term, it is to be noted that further downside could push the altcoin to the $0.65 level, which currently serves as the next significant support.

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