AKTAkash Network (AKT) Price

1. Project introduction

Akash Network is an open network that allows users to buy and sell computing resources securely and efficiently. It is purpose-built for public utility and is based on a blockchain application. The name Akash means “open space” or “sky” in ancient Sanskrit, and the network is designed to tap into the massive market of underutilized resources sitting idle in the estimated 8.4 million data centers globally.

One of the unique features of Akash Network is its decentralized cloud, which is a shift from computing resources being owned and operated by the three large Cloud companies (Amazon, Google, and Microsoft) to a decentralized network of Cloud providers running developed by a community and creating competition in an open market with more providers. Like Airbnb for server hosting.

To use Akash, users can get started right from the Akash Container Platform or use the Akash Deployment Marketplace. They can define their Docker image, CPU, Memory, and Storage in a Stack Definition Language (SDL) file, set their price, receive bids from providers in seconds, and select the lowest price. They can then deploy their application without having to set up, configure, or manage servers and scale their application from a single container to hundreds of deployments.

Akash Network also offers persistent storage, which allows deployment data to persist through the lifetime of a lease. The provider creates a volume on disk that is mounted into the deployment, and this functionality closely mimics typical container persistent storage.

2. Team introduction

Founder: Greg Osuri

Linkedin: https://www.linkedin.com/in/gosuri/

3. Application

Total supply: 388,539,008

Token application:

Akash Network Token (AKT) is the native utility token of Akash Network. AKT is used as the primary means to govern the network, secure the blockchain, incentivize participants, and provide a default mechanism to store and exchange value.

(1) Security

Akash Network is secured by a Proof-of-Stake (PoS) blockchain, and AKT is used to secure the network by staking. Staking AKT provides a passive income stream for stakers, and increases the security of the network.

(2) Governance

Akash Network is community-owned and all aspects of the network are governed by AKT holders. AKT holders can vote on proposals to improve the network and manage critical parameters such as the inflation rate and take rates.

(3) Value Exchange

AKT provides a default mechanism to store and exchange value, and acts as a reserve currency in Cosmos’ multi-currency and multi-chain ecosystem.

(4) Incentivization

AKT is used to incentivize providers to offer lower prices, and incentivizes stakers to participate in the network longer term by staking.