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Akash Network

Overview​

Akash Network is a decentralized cloud computing marketplace built on the Cosmos SDK, designed to provide a cost-effective, secure, and scalable alternative to traditional cloud services like AWS and Google Cloud. By leveraging blockchain technology, Akash enables users to buy and sell computing resources in a permissionless and decentralized manner. The platform aims to democratize access to cloud infrastructure, making it more affordable and accessible for developers, businesses, and individuals.

Key Features​

  • Currency: $AKT (native token).
  • Buying Currency: $AKT is available on major exchanges like Coinbase, Gate.io, and KuCoin.
  • Utility:
    • Payments: $AKT is used to pay for cloud computing resources, including CPU, GPU, and storage.
    • Staking: Stake $AKT to secure the network, earn rewards, and participate in governance.
    • Governance: $AKT holders can vote on protocol upgrades and ecosystem decisions.
  • Automation:
    • Smart contracts automate resource allocation, payments, and reward distribution.
    • Dynamic pricing ensures cost efficiency by allowing providers to compete for workloads.
  • API: Yes. Akash integrates with Docker and Kubernetes for seamless deployment of applications.
  • User Perspective:
    • Developers: Deploy applications on a decentralized cloud, benefiting from lower costs and greater flexibility.
    • Providers: Monetize idle computing resources by renting them out on the Akash marketplace.

How It Works​

  1. Resource Aggregation:
    • Providers register their computing resources (e.g., GPUs, CPUs) on the Akash Network, which are pooled into a global marketplace.
  2. Task Allocation:
    • Users submit compute jobs, and the platform matches them with the most cost-effective and suitable resources.
  3. Execution & Payment:
    • Jobs run on distributed nodes, with results validated via blockchain. Payments in $AKT are automated through smart contracts.

Staking​

  • Staking Requirements:
    • Providers must stake $AKT to participate in the network, with the amount influencing their reputation and governance power.
    • No minimum stake for users deploying applications.
  • Rewards:
    • Block Rewards: Distributed to stakers based on their contribution to network security.
    • Slashing: Malicious actors lose staked $AKT, ensuring network integrity.

Documentation​

For technical guides, tokenomics, and API integration:

Additional Resources​

  • Official Links:
  • Community:
  • Partnerships:
    • Collaborations with Solana, Cosmos, and other blockchain projects enhance cross-chain interoperability.

Ecosystem Components​

ProductFunctionality
Akash ConsoleUser-friendly interface for deploying and managing cloud resources.
Akash ProviderDashboard for providers to monitor resource usage and earnings.
Akash ExplorerAnalytics tool tracking network activity, rewards, and resource utilization.

Tokenomics​

  • Initial Supply: 100M $AKT.
  • Max Supply: 388.5M $AKT, with rewards decreasing over time.
  • Distribution:
    • 75% allocated as network rewards, 25% to investors, team, and ecosystem fund.

FAQ​

  1. Is it usable by the average DePIN user?
    Yes, Akash Network is designed to be user-friendly, with a straightforward interface (Akash Console) and comprehensive documentation. It caters to both technical and non-technical users, making it accessible for the average DePIN user.

  2. Can I pay with tokens to use the DePIN product offered by the project?
    Yes, $AKT is the primary currency for purchasing computing resources on the Akash Network. Users can also pay with USDC, and credit card payments are now supported for mainstream accessibility.

  3. Can tokens be automatically switched from other standard tokens (e.g. ETH, BTC)? While $AKT is the native token, users can trade it on major exchanges like Coinbase and Gate.io. However, automatic token switching (e.g., ETH to AKT) is not natively supported on the platform but can be done through external exchanges.

  4. If I would provide the service, what is my ROI, do we need to stake, etc.?
    Providers can earn passive income by renting out idle computing resources. Staking $AKT is required to participate as a provider, and rewards are distributed based on resource contribution and staking amount. ROI depends on resource utilization and market demand.

  5. Why does the project exist, why do the people and the planet need it?
    Akash Network exists to democratize cloud computing, reducing costs and increasing accessibility. It promotes sustainability by utilizing underutilized resources, reducing waste, and offering a decentralized alternative to energy-intensive centralized cloud providers.

  6. Is it geo-aware?
    Akash Network does not explicitly mention geo-fencing, but its decentralized nature allows users to deploy resources globally, ensuring flexibility and compliance with local regulations.

  7. Is it cost-effective?
    Akash Network is highly cost-effective, offering computing resources at up to 90% lower costs compared to traditional cloud providers like AWS and Google Cloud. Dynamic pricing ensures competitive rates.