API ID:
akash-network
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Coin Overview
AKT
Token
388 Million
Cloud computing
September 2020
Akash Network
Akash (AKT) is a blockchain-powered marketplace for cloud computing. Instead of renting computing power from companies like Amazon or Google, users can rent it from providers on the Akash Network. AKT is used to pay for resources, secure the network through staking, and reward providers. This creates a cheaper, decentralized alternative to traditional cloud services.
A Deeper Dive
Technology & Use Case
Akash is built with the Cosmos SDK and uses Proof-of-Stake for security. It operates as a decentralized “cloud marketplace,” where data centers and individuals rent out unused computing power. Users bid for resources, driving competitive prices. AKT is used for payments, staking, and governance, aligning incentives between providers and consumers.
Origins & Team
Akash was founded by Greg Osuri and launched by Overclock Labs. The project began as an open-source cloud platform before evolving into a blockchain-based decentralized cloud service. Its goal is to challenge centralized giants like Amazon AWS and Google Cloud by making computing power open and accessible worldwide.
Ecosystem & Partnerships
Akash has grown into a hub for hosting blockchain applications, AI models, and decentralized apps. It integrates with Cosmos’s IBC protocol, expanding interoperability. Partnerships include collaborations with other decentralized infrastructure projects, making Akash part of the broader Web3 “decentralized cloud” movement. By cutting costs and decentralizing hosting, Akash gives developers more freedom and users more choice.
A Deeper Dive
Popular Exchanges
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