Akash Network

What is Akash Network (AKT)

Akash Network is a decentralized computing marketplace, through which cloud computing resources can be readily and securely leased. Commonly popular as "Airbnb for Cloud Computing," Akash Network provides underused computing to businesses and program developers at fractions of the prices where the conventional cloud giants Amazon AWS or Google Cloud can be seen.

Akash Network was launched in March 2018 by Greg Osuri and Adam Bozanich, Overclock Labs – a software development company. Having set for themselves the goal to construct a multi-cloud deployment platform at first, the team eventually expanded the idea to establish a decentralized cloud computing market. The Akash Mainnet was officially launched in September 2020 with the Akash Marketplace.

The network has been updated several times, the final of which was Mainnet 12 on December 5, 2024.
AKT is Akash Network’s native token for governance, security, rewards, and value exchange in the decentralized marketplace. AKT 2.0 adds Take and Make Fees, Stable Payment and Settlement (live now), and upcoming Incentive Distribution Pools and Provider Subsidies. These will help grow the network, fund incentives, and provide more payment options for lease settlement.

What makes Akash Network Unique?

At the heart of all this, Akash is powered by Akash Compute Marketplace and Akash Container Platform:

• Akash Compute Marketplace: A space where cloud providers put their computing resources for lease. The transactions involving an offer, a request, a lease, and a settlement are done on-chain using the Akash Token (AKT).

• Akash Container Platform: A Kubernetes-based deployment platform that is good for hosting and managing containerized applications, making it ideal for running any cloud-native workload.

With a declarative Stack Definition Language (SDL) used across user communities to define the deployment parameters in a text file similar to Docker Compose Files, now Akash particularly holds comfort in performance, security, and decentralization, thereby providing a very democratic and least-expensive change through traditional cloud values to businesses.

Where to Buy Akash Network (AKT) Tokens?

You can buy Akash Network (AKT) tokens on both decentralized (DEX) and centralized exchanges (CEX).

You can acquire AKT tokens on decentralized exchanges (DEXs) such as Osmosis and Rango Exchange. These platforms allow you to swap Cosmos (ATOM) tokens for AKT seamlessly.

Or you can buy AKT on centralized exchanges like Coinbase, Kucoin, or Crypto.com. After buying, transfer your AKT to your Akash account to fund deployments and pay transaction fees.

Wallets that Support Akash Network (AKT) Tokens

The Cosmos Ecosystem has several wallets to manage Akash Network (AKT) tokens securely. Two of the most user-friendly are Keplr Wallet and Leap Wallet, both preconfigured to support multiple Cosmos-based networks.

Other compatible wallets are Cosmostation, Ping.pub, and Omni Wallet. Third-party wallets like MetaMask, Torus, TokenPocket, BRD Wallet, Coinhub, and OKX Wallet also support AKT tokens, so you have more options.

AKT Coin History and Key Fundings

• AKT token was launched through a Token Generation Event (TGE) on October 21, 2020, for $0.39 and returned 8.16x.

• IEO was hosted on BitMax, raising $800,000 for $0.35 per token.

• Before that, a private round in Q1 2020 raised $2M at $0.0591 per token with investors including Digital Asset Capital Management (DACM), Infinite Capital, and Cypher Capital.