Strategic partnerships have recently become the most preferred ways to achieve mass adoption in the cryptocurrency space. Blockchains are constantly redefining the trend especially for online retail platforms. Qtum (QTUM), for example has within a year of operation become a top 30 digital asset. Adoption and strategic partnerships have placed it on the map in the industry. Qtum has, in the past partnered with leading ecommerce companies. Besides, the latest partnership with Amazon Web Services is nothing but a groundbreaking breakthrough.
AWS will work closely with Qtum team and together they will strategize on how to develop Blockchain-as-a-Service (BaaS) while using AWS. The main focus of these collaboration is to establish the foundation for enterprise-grade solutions. The partnership comes at the time when AWS customers are requesting for BaaS model services.
It is important to note that Qtum is a smart contract development platform. For this reason, the partnership will give AWS customers the opportunity to create and release smart contracts supported by an Amazon Machine Image (AMI) which has Qtum Core already integrated. In addition to that, Solidity as well as Qmix web IDE will ensure that the customers achieve their goals at an efficient, cost effective speed. In the near future, the platform is expected to grow to the point where both entities will offer services tailor-made for users, developers and enterprise customers.
Qtum currently has more than 5,000 nodes spread around the world. This means that the network status is perfect for the initial stages in the AWS partnership. The network boasts of the ability to launch its nodes in just 2 minutes. Similarly, all the basic tools and libraries for development are functional. Furthermore, the Proof-of-Stake (PoS) algorithm used by Qtum protocol helps to bring down the computational hurdles while at the same time, increasing scalability across the platform.
Free-tier of AWS EC2 instances are also supported on Qtum platform. On the other hand, as a hybrid platform, users are able to develop broad-based applications made possible by seamless integration that merge Bitcoin-style blockchain and Ethereum Virtual Machine (EVM) using Account Attraction Layering.
In regards to the strategic partnership, Qtum Foundations CIO, Miguel Palencia said in a comment:
“Qtum’s launch on the AWS marketplace provides an easy-to-use and powerful cloud-based solution for end users and enterprise. Anyone who wants to develop and build dapps on the Qtum platform or use it as a staking node will benefit from this,”
Qtum and AWS have been discussing the possibility of this exciting partnership since April 2018. The signing of the partnership has made Qtum the first open-source blockchain-based platform to collaborate with AWS. The partnership is already gaining traction with AWS customers, besides it has already been rated 5 start in the AWS marketplace.
Qtum (QTUM) Price Overview
The token has been performing relatively well in the past couple of weeks. The consolidation in the first and second week of October culminated in widespread declines across the market. Qtum corrected lower below the support $3.5 but formed a low at $3.39 before the buyers entered and QTUM/USD bounced back up. At present, the token is exchanging at $4.6 following a 12% surge on the day. Both the trading volume and the market cap have witnessed a boost with the 24-hour volume rising from $139 million to the current $194 million since yesterday. The market cap, on the other hand, is up from $352 million to $401 million in the same period.