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Akash Network

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1 AKT = 2.41 USD
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What Is Akash Network?

Akash Network is an open-source and decentralized cloud computing platform that is revolutionizing the way cloud services are utilized and provided. Often likened to the "Airbnb of cloud services", it facilitates a peer-to-peer marketplace where users and companies of various scales can access services swiftly, reliably, and cost-effectively. This innovative network is integrated within the expansive Cosmos Hub, fostering a collaborative environment that bridges various blockchain networks and facilitates seamless service across diverse development platforms.

In contrast to traditional cloud computing platforms, which are predominantly controlled by tech giants, the Akash Network seeks to democratize the power of cloud computing. By leveraging underutilized resources from existing data centers, which constitute about 85% of its cloud computing capacity, it fosters a vibrant marketplace where providers compete for workloads. This competition not only drives down costs for developers and end-users but also introduces a level of flexibility that is unheard of in the traditional cloud computing sphere, where rigid agreements and limited options are the norms.

This decentralized approach promises not only cost-effectiveness but also enhanced security, resilience to attacks, and a censorship-resistant infrastructure, mitigating the undue influence of centralized entities. By offering a platform where cloud service providers and clients can forge lease agreements that are cheaper, more flexible, and secure, the Akash Network is paving the way for a more equitable and efficient future in the cloud computing industry.

Resources

Official Documents: https://docs.akash.network/

Official Website: https://akash.network/

How Does Akash Network Work?

At the core of the Akash Network lies a decentralized marketplace, a hub where cloud service providers and clients converge to forge lease agreements. This model is inherently more secure, flexible, and economical compared to dealing with a singular, traditional cloud service provider. The network's decentralized nature, akin to a blockchain, draws its security from a widely distributed structure, making it resilient to the vulnerabilities that often plague large, centralized data centers.

The operational dynamics of the Akash Network are straightforward yet revolutionary. Potential subscribers delineate their application needs, including the necessary CPU, memory, and storage, followed by a price proposition. Independent providers within the network then bid to fulfill these demands, presenting their respective prices. Users can choose the most suitable option, often the one offering the lowest price, and deploy their application promptly without the hassle of setting up or managing servers, a common requirement in platforms like AWS and Google Cloud.

What Is AKT Token?

AKT is the native utility and governance token of Akash Network. Built on the Cosmos blockchain, the AKT token serves multiple functions, including governing the platform, securing the blockchain technology, and incentivizing participation within the network. It acts as a governance tool, empowering the community to vote on project upgrades and even influence the tokenomics, fostering a truly decentralized and open-source ecosystem.

Initially, the network released 100,000,000 pre-mined AKT tokens, with a maximum supply cap of 388,539,008 AKT. This token not only facilitates value storage and exchange across users but also incentivizes cloud providers to offer competitive prices, rewarding them with AKT tokens. As the network reaches specific Gross Merchandise Value thresholds, it promises further rewards, fostering business expansion and community engagement.

Akash Network's Impact on Finance

In the financial sphere, the Akash Network is poised to make significant waves, particularly within the decentralized finance (DeFi) sector. Its cost-effective and efficient approach to cloud computing presents a lucrative opportunity for developers and businesses alike, potentially reshaping the financial landscape by fostering more accessible and economical decentralized applications (dApps).

Moreover, the network's commitment to open-source technology and its endeavor to collaborate with established corporations hint at a promising future, where cloud computing is not only more democratic but also more harmonious and collaborative. While challenges lie ahead, the Akash Network stands ready to navigate them, steering the cloud computing industry towards a future marked by innovation, equity, and efficiency.

What Determines Akash Network's Price?

In the dynamic world of cryptocurrency, the Akash Network price is influenced by a myriad of factors that potential investors keenly observe through Akash Network price charts and AKT price analysis. One of the primary determinants of the Akash Network AKT price today is market demand and supply dynamics, which are closely monitored through various platforms offering insights into the AKT token market cap and Akash Network price in USD. Investors looking to buy Akash Network token often rely on comprehensive data analysis that encompasses Akash Network historical price trends to make informed decisions.

Furthermore, the AKT crypto price is significantly influenced by developments and updates within the network. AKT crypto news serves as a vital source of information, providing updates on various developments, partnerships, and technological advancements that could potentially influence the Akash Network token value. Speculators and investors often engage in AKT token price prediction and Akash Network price prediction 2023, utilizing various analytical tools and market indicators to forecast the potential trajectory of the AKT cryptocurrency future.

Moreover, the intrinsic value of the network, driven by its decentralized cloud computing capabilities, plays a pivotal role in determining the Akash Network price live. The network's innovative approach to cloud computing, offering a more flexible and cost-effective solution, has been a significant factor enticing investors to explore potential growth and buy Akash Network token. As the network continues to evolve, offering groundbreaking solutions in the decentralized finance space, it is anticipated that the Akash Network price will reflect its growing prominence and utility in the blockchain industry.

Conclusion

The Akash Network emerges as a transformative force in the cloud computing sector, presenting an open-source and decentralized platform that effectively redefines the traditional boundaries of cloud services. As the "Airbnb of cloud services," it introduces a competitive marketplace, empowering users and companies to secure swift, reliable, and cost-effective cloud computing services. Leveraging the capabilities of the expansive Cosmos Hub, it nurtures a collaborative ecosystem that connects diverse blockchain networks, fostering seamless service integrations across different development platforms. Moreover, with its native AKT token, it incentivizes participation and governs the ecosystem with a decentralized approach, aligning with the broader objectives of the blockchain and cryptocurrency sectors. Prospective investors keenly watch the AKT token price dynamics, which are influenced by various factors, including market demand and the network's intrinsic value derived from its innovative approach to decentralized cloud computing. As it carves out a niche in the DeFi sector, Akash Network promises to steer the cloud computing industry towards a future characterized by innovation, equity, and efficiency.

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coin.24Hcoin.7dayscoin.30dayscoin.90dayscalculator.common.one_yearcoin_market.all_time
-1.40%+0.35%-10.91%-6.44%+129.29%+552.32%

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24h$2.34$2.5
7d$2.2$2.6
30d$2.2$2.65
90d$1.83$3.14
1y$0.9277$6.82
coin_market.all_time$0.1672(2022-11-21, coin_market.years_ago )$8.08(2021-04-06, coin_market.years_ago )

coin.market_info

coin_market.cap
$598,108,539.04
-1.40%
coin_market.fully_cap
$935,971,785.06
-1.40%
coin_market.volume_24h
$15,755,640.02
-31.66%
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coin_market.circula_rate
+99.00%
coin_market.volume_cap
0.0263
coin_market.circula_supply
248,285,800 AKT
coin_market.total_max_supply
248,285,800.8 AKT
388,539,008 AKT
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4
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41(#278)
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698
+4%
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45(#272)
-49%
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0%
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1
0%
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100%
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0%
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0%
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13
coin_price.reddit_ posts(24h)
24
-29%
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0
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Akash CEO Greg Osuri on DePIN's appeal to mainstream users — and regulators
Akash CEO Greg Osuri on DePIN's appeal to mainstream users — and regulators

Quick Take Regulators have acknowledged the unique benefits decentralized physical infrastructure networks (DePIN) bring to the table, according to Greg Osuri, the CEO of Akash, one such DePIN protocol. In a recent interview, Osuri said one of his goals is to convince regulators that DePIN should be overseen differently than other crypto sectors, and referenced a “productive meeting” held with a chief staffer from the U.S. House committee that regulates commerce and trade. Akash and its competitor InFlux T

The Block2024-10-12 16:00

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What is the use case of Akash Network?

Akash Network is a decentralized cloud computing marketplace that offers efficient and cost-effective access to cloud resources by tapping into idle computing power. It employs a "reverse auction" system, eliminating the need for traditional cloud providers and enhancing accessibility and scalability. AKT, the network's utility and governance token, plays a central role in securing the platform and facilitating transactions and smart contracts.

Is Akash Network a good investment?

Akash Network's decentralized cloud computing services have promising real-world applications and investment potential. Its adoption could benefit from the growing interest in web3 technologies, potentially boosting AKT token value as more users and businesses seek its decentralized infrastructure. A bullish crypto market sentiment may also drive increased investment and adoption, further supporting the Akash Network's price.

What is Akash Network price prediction?

While exact AKT price predictions are challenging due to crypto market volatility, factors like increased adoption, positive sentiment toward web3 and decentralization, and overall market sentiment can influence the Akash Network token's price trends. Rising adoption, coupled with a favorable outlook for web3, could drive demand for AKT, potentially boosting its value. However, market sentiment remains a key determinant of price fluctuations.

Is Akash Network safe?

Akash Network (AKT) offers users a secure and private cloud computing experience through advanced encryption and decentralized storage. This eliminates reliance on centralized providers, ensuring user privacy and data security.

How does Akash Network contribute to a more sustainable future?

Akash Network (AKT) prioritizes energy efficiency and sustainability in cloud computing. By using idle resources, it reduces energy consumption, leading to cost savings and a more environmentally friendly future.

What role does community involvement play in Akash Network's development?

Community involvement is crucial to Akash Network's development. It operates on open-source principles, encouraging contributions from developers and users. AKT token holders participate in network governance, influencing important decisions and shaping the platform's future.

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insight1285/1300
12714.18%
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price_sidebar.total_pnl $263,874.97
PHOENXCORP
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insight105/750
249.81%
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price_sidebar.total_pnl $969,025.23

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