Akash Network (AKT) 7 days price up 34%

Akash Network (AKT) 7 days price up 34%. Akash is already a 10-bagger crypto with the price increase from $0.56 on July 2, 2023 to $5.80 on May 10, 2024.

Akash Network represents a significant shift in the paradigm of cloud computing, offering a decentralized marketplace for computing resources.

Akash Network is an open network cloud computing platform that lets users buy and sell computing resources and allows for the deployment of applications on cloud.

Built on the Cosmos blockchain, it utilizes the Cosmos SDK to facilitate a peer-to-peer ecosystem where users can securely and efficiently buy and sell computing power.

This open-source platform is not only a marketplace but also a supercloud that allows for the deployment of applications in a censorship-resistant environment, ensuring privacy and security for users.

The network is powered by its native token AKT. AKT uses for securing Akash Proof-of-Stake blockchain.

AKT holders can vote on proposals to improve and manage the Akash Network. It has a max supply of 388,539,008 AKT.

Akash Network's innovative approach includes features like Infrastructure as Code, Kubernetes integration, persistent storage, and dedicated IP leasing, which collectively enhance the user experience by providing a flexible, reliable, and cost-effective solution for cloud services.

Moreover, the platform's 'Reverse Auction' system for pricing allows users to enjoy cloud services at prices significantly lower than traditional public clouds, sometimes up to 85% less. This economic efficiency, combined with the platform's commitment to privacy and security through anonymous application deployment, positions Akash Network as a pioneering force in the future of decentralized cloud computing.

The community-driven nature of Akash Network ensures that it remains a public utility, with its source code available for anyone to review or contribute to. This transparency fosters trust and encourages innovation, allowing developers and users alike to participate in the evolution of the platform.

Applications running on Akash Network, such as AI & ML tools and text-to-image models, benefit from the high-performance computing resources available, demonstrating the network's capability to support data-intensive and demanding applications.

As the world moves towards more decentralized and user-empowered systems, Akash Network's model of a community-owned and managed supercloud could very well be the blueprint for the next generation of cloud computing infrastructure.

As of May 10, 2024 Akash Network (AKT) has a market cap of $1.367 billion. This makes it the world's 63^rd most valuable crypto by market cap.