Akash Network AKT

1. Summary

Ranks

Liquidity

97

Developer

49

Social

93

Momentum (beta)

18

Stack Rank™

35

Price

$3.39 +9.0%

Market Cap

$819.90M (#89)

Supply

240.11M / 241.32M

Tags

Solana Ecosystem Cosmos Ecosystem Artificial Intelligence (AI) DePIN Osmosis Ecosystem Proof of Stake (PoS)

More Metrics

Price
52W High price	$6.22
52W High date	10th Mar 2024 (4 months ago)
All Time High (ATH) Date	6th Apr 2021 (3 years ago)
ATH Price	$8.07
% From ATH	-61.52%
All Time Low (ATL) Date	21st Nov 2022 (1 year ago)
ATL Price	$0.16
% From ATL	1783.42%

Supply & Trading Volume
Trading Volume (24h)	$10.03M
Total Supply	241.32M
Max Supply	388.54M
Circulating Supply	240.11M

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Description

Akash Network is the world's first decentralized cloud computing marketplace, often referred to as the "DeCloud for DeFi." The network connects server owners who provide computing resources to host applications with those who need them, thereby reducing costs as compared to traditional cloud services.

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Akash Network is the world's first decentralized cloud computing marketplace, often referred to as the "DeCloud for DeFi." The network connects server owners who provide computing resources to host applications with those who need them, thereby reducing costs as compared to traditional cloud services.

Components

The Akash Network is composed of three key components:

1. Akash Providers: These are the server owners who manage infrastructure and Kubernetes clusters. They provide computing resources to the network.

2. Akash Network: This is the platform that facilitates deployment across providers securely and efficiently. It is often likened to Airbnb for data centers. The platform is built on open-source principles, ensuring standardization and community involvement.

3. Akash Tenants: These are the users who deploy apps on Docker containers in the Akash Network, benefiting from decentralized deployment and the flexibility to move between different providers.

Together, these components form the foundation of Akash’s decentralized cloud ecosystem, offering costimirality, choice, and open-source principles.

Objective

Akash Network aims to provide decentralized cloud services at a fraction of the cost of existing legacy services. By leveraging containerization technology and the open-source Docker Engine, Akash ensures fast and cost-effective application deployment compared to centralized cloud computing alternatives. The platform also incentivizes providers to offer their idle infrastructure, leveraging the force of utilization from the current idle capacity of data centers.

Native Token

The native multi-utility token of the Akash Network is AKT. This token secures the network through a Delegated Proof-of-Stake (DPoS) consensus mechanism, where validators and delegators stake AKT to generate new blocks. In addition to this, AKT provides its holders with on-chain governance rights, making contributors active participants in the network's evolution.

Usage

Akash Network is designed to be accessible and adaptable, ensuring that the deployment process is simplified and cost-effective. The network uses Kubernetes, ensuring a secure and tested platform for hosting applications. Additionally, it supports limitless storage and dedicated IP leasing, providing flexibility and control over resources. The platform prioritizes user privacy and security by allowing for anonymous deployment of applications while undisclosed hosting and governance rights given to AKT holders.

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