Akash Network
AKT
What is Akash Network (AKT)?
Akash Network is the first blockchain-powered, decentralized cloud marketplace that connects customers with excess computing resources to users looking for the same resource at a much cheaper rate. It enables users to lease computation cycles and allows developers to deploy applications in a frictionless environment, encouraging competition and pushing prices to the bottom.
What Problem Does Akash Network (AKT) Solve?
Akash Network addresses:
- Centralization: Minimizes reliance on a centralized cloud provider.
- Cost Efficiency: Drives down the cost of cloud services through competition.
- Scalability: Scalable developer and business solutions.
Why does the Crypto Market Need Akash Network (AKT)?
Here are the benefits that the crypto market enjoys from the Akash Network:
- Decentralized Cloud Computing: Provides a more secure and transparent cloud computing solution.
- Cost Reduction: Makes cloud services cheaper due to the permissionless marketplace.
- Resource Utilization: Enables users to earn money using idle computational resources.
History & Achievements
Akash Network, from its inception in 2018, has been on a hypersonic growth spree. The company has developed a strong ecosystem, integrating with major blockchain projects while attracting investments from notable venture capital firms.
Who Founded Akash Network (AKT)?
Greg Osuri and Adam Bozanich founded Akash Network. Greg Osuri brings rich experience working as a software engineer to the development and application of Blockchain Technologies, while Adam Bozanich applies his skills in distributed systems and networking.
What Technology Akash Network (AKT) Uses and How Does it Work?
Akash Network deploys:
- Cosmos SDK: To build a scalable and interoperable blockchain.
- Proof-of-Stake (PoS): Helps to secure and maintain a network.
- AKT Token: The token for transactions, staking, and incentivizing participation on the network.
What Affects Akash Network (AKT) Price?
Factors affecting the price of AKT:
- Market Sentiment: News and developments.
- Platform Adoption: Increasing use and adoption.
- Technological Advancements: Upgrades and tie-ups.
- Regulatory Changes: Regulation of cryptocurrency.
How Many Tokens of Akash Network (AKT) Are in Circulation?
Around 240,109,622 AKT are circulating in the total supply of 241,840,758.
What is the Maximum Supply of Akash Network (AKT)?
There is a total maximum AKT token supply of 388,539,008 tokens.
What is Akash Network (AKT) Utility?
AKT tokens can be used for:
- Transaction Fees: Within the Akash Network system.
- Staking: Earning rewards and securing the network.
- Governance: Voting for changes and upgrades to the protocol.
Akash Network (AKT) Tokenomics
Akash Network tokenomics are:
- Staking and Rewards: For AKT holders.
- Incentives: User participation rewards.
- Supply Cap: 388,539,008 tokens.
What is the All-Time High and All-Time Low Price of Akash Network?
- All-Time High: $8.07 on April 6, 2021
- All-Time Low: $0.1650 on November 21, 2022
Where to Buy Akash Network (AKT)
AKT tokens can be traded on various major cryptocurrency exchanges:
- Gate.io
- Coinbase Exchange
- Upbit
- KuCoin
- Crypto.com Exchange
Who Invested in Akash Network (AKT) at Seed Stage?
Akash Network had notable early investments from venture capital firms, including Digital Asset Capital Management, P2P Validator, and ChainLayer.
What Are the Revenue Streams of Akash Network (AKT)?
Akash Network has the following ways of earning revenue:
- Transaction Fees: Through resource rental of computational power.
- Staking Rewards: Staking AKT tokens.
- Partnerships and Collaborations: Revenue obtained from integrations and collaborations entered with other blockchain projects.