Akash Network (AKT) Graphics
What is Akash Network (AKT)?
Akash Network (AKT) is a decentralized cloud computing platform that enables developers to deploy and host their applications on a global network of servers. It was founded by Greg Osuri in 2018 and aims to provide a more secure, efficient, and cost-effective alternative to traditional cloud computing services.
Akash Network was founded in 2018 by Greg Osuri, a software engineer and entrepreneur who previously founded AngelHack, a global hackathon organization. Osuri was inspired to create Akash Network after experiencing firsthand the limitations of traditional cloud computing services and their centralized infrastructure. He envisioned a decentralized platform that could enable developers to deploy their applications faster, more securely, and at a lower cost.
The AKT token is the native cryptocurrency of the Akash Network platform. It is used to pay for hosting services on the network and for staking, which allows users to participate in network governance and earn rewards. The total supply of AKT tokens is capped at 380 million, with a circulating supply of around 70 million as of September 2021.
Akash Network is built on top of the Tendermint consensus algorithm, which is used to secure the network and validate transactions. The platform uses a unique auction system, known as the Akashian Challenge, to allocate hosting resources to developers. This system allows developers to bid on hosting services using AKT tokens, with the lowest bidder winning the right to host their application on the network.
Akash Network also uses a decentralized storage system, known as InterPlanetary File System (IPFS), to store application data. This ensures that data is distributed across the network, making it more secure and resilient to attacks.
Pros and Cons:
- Decentralized: Akash Network is a fully decentralized platform, which means that it is not controlled by any central authority or organization.
- Secure: The platform uses advanced security features, such as encryption and IPFS storage, to ensure that applications and data are secure from hacking and other cyber threats.
- Cost-effective: Akash Network offers hosting services at a lower cost compared to traditional cloud computing providers.
- Scalable: The platform is designed to be highly scalable, which means that it can handle a large volume of applications and users.
- Complexity: Akash Network is a complex platform that requires a certain level of technical expertise to use effectively.
- Limited adoption: The platform is still relatively new and has yet to gain widespread adoption among developers and users.
- Competition: Akash Network faces stiff competition from other decentralized cloud computing platforms, such as Ethereum and Polkadot.
Akash Network is a promising platform that has the potential to revolutionize the cloud computing industry. Its decentralized infrastructure, advanced security features, and cost-effective hosting services make it an attractive alternative to traditional cloud computing providers. While there are still challenges to overcome, such as limited adoption and competition from other platforms, Akash Network is well-positioned to become a major player in the decentralized cloud computing space.
Akash Network (AKT)Price Forecast – 2023, 2025, 2030
2023: In 2023, Akash Network is expected to grow and mature as more and more developers and enterprises recognize the benefits of decentralized cloud computing. We can expect the price of AKT to reach $15-$20, assuming the market continues to recover from any potential dips and the overall cryptocurrency market continues to grow…Read More
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About Akash Network (AKT)
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