What is an Akash Network (AKT)?
Akash Network (AKT) aims to be the world’s first decentralized and open-source cloud platform powered by leading global organizations across technology and venture capital. The protocol seeks to accelerate deployment, scale, productivity, and price execution for industries like blockchain and machine learning. The platform also aims to deliver quick, efficient, and low-cost application deployment solutions for its users.
According to the whitepaper, Akash Network is a marketplace that provides power over the price and the amenities included in the market. Meanwhile, the network also equips app developers with a command-line tool for leasing and deploying apps directly from a terminal. Similarly, the platform seeks to empower internet builders with more liberty to enhance human understanding. The protocol tends to build a global community of validators, AKT token holders, developers, and advocates, keeping the subsequent internet generation open and protected.
The Akash Network seeks to solve problems that affect the future of the internet and other related issues. In addition, the platform seeks to focus on the following terms to uphold the value of the network:
Sovereignty: To command the future and the outcomes.
Openness: Being transparent and fair to the users.
Equality: Equal opportunities for every individual.
Empathy: Desire to understand and relate.
The AKT is the native utility token of the Akash Network protocol. The token is utilized as the primary means to govern, seeking to ensure the blockchain incentivizes participants and delivers a default mechanism to store and trade value. Also, the AKT token aims to incentivize providers to deliver lower prices and stakers to take part in the network by staking. The token holders get an opportunity to vote on network advancements and the distribution of the reserves and resources of the decentralized cloud foundation.
History of Akash Network (AKT)
Greg Osuri and Adam Bozanich have co-founded the Akash Network platform. Osuri serves as chief executive officer (CEO) and Bozanich as chief technology officer (CTO) at Akash Network. The maximum total supply of the token is 388.5 million AKT.
