What is Akash Network and how to buy AKT crypto?

What is Akash Network crypto?

Akash Network is a cloud computing project created by:

  • Greg Osuri (Managing Director)founder of AngelHack, a large hackathon company, or Firebase, a development company.
  • Adam Bozanich (Technical Director) who has experience developing software for Symantech, One King’s Lane and Marketron.
  • Boz Menzalji (Director of Operations)former general manager of the company Refereum, who participated in the development of several start-ups such as Paydici.

The Akash project began in 2018. The network was launched on September 25, 2020. For the financing, the project used two ICOs and one IEO from AscendEX. Akash Network defines itself as “the world’s first cloud computing marketplace”.

Specifically, Akash Network is a platform that allows you topeer-to-peer exchange of computing resources. It is the decentralized equivalent of the cloud services offered by GAFA, such as Amazon AWS, Google Cloud and Microsoft Azure. From a technical point of view, Akash Network is a blockchain layer 1 built in layer 0 Cosmos. The capitalization of the project is greater than $1.3 billion, which places the AKT token among those top 100 worldwide.

What are Akash Network’s partnerships?

Akash Network has several partnerships with companies specializing in data such as 6×7 Networks, LLC (encrypted telecommunications company), OrionVM (laaS provider), SimplyVC or Equinix Metal, the world’s largest data and infrastructure provider.

At the crypto level, Akash Network has partnerships with Cosmos, its native environment. In addition to Cosmos, Solana (blockchain specialized in dApps), Kava (DeFi platform), ChainLink (crypto within oracles) or Sovryn (BTC lending solution) are partners of Akash Network.

Akash Network VS centralized cloud services?

Akash Network is technically different from centralized cloud services and has unique features like:

  • ONE decentralized architecture built into the layer 0 Cosmos blockchain ecosystem. Akash is from the library Cosmos SDK and uses the consensus process Terndermint.
  • Standard Definition Language (SDL). This language allows users to create forms that contain the parameters of their request (price, resources, etc.) to be sent to the network.
  • Akash Container Platform. A “container” makes it possible to isolate software from its environment, thereby guaranteeing its consistent operation despite differences. A container groups the code and all its dependencies so that the application runs quickly and reliably from one computing environment to another.
Akash network understands

Explore the architectural highlights of the Akash Network below.

Decentralized infrastructure

Through the use of technology blockchainAkash Network offers a decentralized cloud computing infrastructure. Unlike the cloud services offered by the giants Amazon, Microsoft or Google, on Akash users share their computing resources peer-to-peer. This decentralization makes it possible to reduce cloud costs and increase security. In addition, it protects users from censorship risks. Your resources do not come from a single data center, but from several nodes (or users) distributed around the world.

GPU integration

Akash Network allows its users to use high GPU power at low prices. Based on the principle of “sharing economy” (sharing economy), the platform allows users with limited funds to borrow at low costs from GPU power.

Connection with AI

Akash Network uses technologies fromArtificial Intelligence (AI) to offer new services. For example, in August 2023 the platform launched its solution called Super cloudy. Supercloud allows unauthorized access to computing resources, including GPUs, from various providers, whether independent or large enterprises.

Uses and uses

L’Akash Network ecosystem currently has around 50 projects covering different areas such as:

  • DAO : AtlasDAO, Craft Economy…
  • Memes : Chihuahua chain ;
  • Game : Passage 3D, Strange Clan;
  • Challenge : Chandra Station, Evia Network, Osmosis DEX…
  • Dapp : Desmos Network, Territory, Swift Protocol…
  • Mining : Chia network ;
  • NFT : OmniFlix, Stargaze, Waving Cosmonauts;
  • Artificial Intelligence (AI) : SDXL on Akash, Thumper AI, Akash Chat.

What is the AKT token used for?

AKT is the native token on the Akash Network platform and is used to:

  • Participate in management of its DAO;
  • Effort to earn passive income and contribute to network security;
  • Serve as exchange value to carry out transactions.

At the time of writing, there are 237,278,695 AKT tokens in circulation out of a total of 388,539,008. The current price of the AKT token is $5.34. The ATH was reached on April 6, 2021 at a price of $8.08. The price of the Akash Network token is at one very good dynamics with:

  • + 39% over the last 30 days;
  • + 38% over the last 90 days;

For many analysts, the price of the AKT token should increase in value over time. To Coinpediais the average price target $8.29 in 2024 and above $10 ($13.3) in 2025. THAT Changing analysts also bullish on the AKT token and see the price surpass $10 this year!

logo act crypto Akash Networklogo act crypto Akash Network

The AKT token is not present on all exchange platforms. Currently you can buy Akash Network at Coin baseKuCoin and CoinEXSimply :

  • Opening an account by completing a form;
  • Go through the verification steps including (for certain platforms) KYC;
  • Deposits funds by credit card or bank transfer;
  • Buy AKT (depending on the options offered by the platforms):
    • Direct purchase by credit card or by using funds available in your account.
    • Indirect purchases via a trading pairs, most often AKT/USDT. That means you have to buy stablecoin Tether (USDT) which you can then exchange for AKT tokens.
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After you have purchased your AKT tokens, it is important to stored safely. To do this, you need a wallet. Currently, few wallets are compatible with the AKT token. Depending on the exchange used, it is possible to transfer them to the platform’s integrated wallet. Another solution is to use Keplr wallet. It’s about official wallet for the Cosmos ecosystem. As layer 1 built in Cosmos, the Akash Network can therefore be stored on Keplr.

Our opinion on AKT: A promising crypto-AI?

Akash Network is one blockchain solution specializing in cloud computing. Unlike traditional cloud services offered by Amazon, Microsoft or Google, Akash Network offers a decentralized solution. With its blockchain, the Akash platform making access to cloud computing products more accessible especially the use of GPU computing power. In addition, Akash offers cheaper and safer services than centralized cloud services.

Akash Network is built in the Cosmos ecosystem and is based on a robust technology. In addition, the platform uses services based on Artificial Intelligence (AI), such as its Supercloud solution.

With the advent of AI and an ever-increasing need for GPU power, the Akash Network solution is positioned at a high potential sector. The price of the AKT token is still affordable at the moment. Mass adoption of the Akash network and a favorable crypto environment could easily propel the price of the AKT token beyond the $10 mark.

💡 Also discover: Crypto AI Render (RNDR) how it works and how to buy it.

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