Network

【Network Introduction】Akash

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Basic Information

Established Time: 2015

Issue Time: September 25th, 2020 (also the Genesis Block Date)

Headquarter Location: 530 Brannan St; San Francisco; California US

Coin: AKT

Market Value: $178,708,120

Current Price: $1.15

Raise Situation: Private Sale March 30, 2020 Public Sale October 15, 2020 (Details can be checked in the following article: Economic Model)

Circulating Supply: 156,831,589 AKT

Total Supply: 185,732,567 AKT

Max Supply: 388,539,008 AKT

Explore: https://www.mintscan.io/akash

All-Time High: $8.07 (Apr 06, 2021)

All-Time Low: $0.333077 (Oct 23, 2020)

Network Detail

Brief Introduction

Akash Network is a decentralized peer-to-peer marketplace for cloud computing and provides a fast, efficient, and low-cost application deployment solution. Akash Network’s native token (AKT), is used as a default mechanism to store and exchange value, govern and secure the blockchain while incentivizing its participants through rewards.

Social Media Link Tree

WebsiteRedditTwitterTelegramDiscordYoutubeGithubWhitepaper

Network Description

Akash Network is a developer-centric platform founded by Greg Osuri and Adam Bozanich, who optimized it for its users. Greg has helped launch multiple developer companies including Firebase which was acquired by Google in 2014, as well as AngelHack, the world’s largest developer ecosystem.

Akash Networks seeks to democratize access to the power of cloud computing and reduce the power of the incumbents, few centralized companies, known as the Big Five, control cloud computing which has led to censorship. Akash Network solves this problem since the Akash sources are not owned by a single company or individual, but rather come from a distributed network of cloud computing data centers all over the world. Since its mainnet 2 launch, Akash has seen 400x in deployments on its platform (Akash Network launched mainnet 2 on March 8, 2021, on the Cosmos SDK. Main features of the mainnet 2 include, a decentralized cloud compute marketplace, flexible bid pricing, Inter-blockchain communication (IBC) compatibility, deployment tools, and audited attributes).

Feature

  • Persistent Storage

Akash persistent storage allows deployment data to persist through the lifetime of a lease. The provider creates a volume on disk that is mounted into the deployment. This functionality closely mimics typical container persistent storage.

  • Authorized Spend

Authorized Spend allows users to authorize spend of a set number of tokens from a source wallet to a destination, funded wallet. The authorized spend is restricted to Akash deployment activities and the recipient of the tokens would not have access to those tokens for other operations. This allows large teams to work on deployments together without using large shared wallets, thereby reducing security concerns.

  • Fractional uAKT

Fractional uAKT is the removal of the implicit minimum cost of deployment. In the past, a deployment could not be cheaper than one uAKT per block. Meaning, extremely light workloads like a crypto wallet, or perhaps a personal blog could end up being more expensive than necessary. The limitation also would have more severe consequences as token price increases. A lightweight deployment could increase from $1 to $5 per month if the token were to double or triple in price. With fractional uAKT, prices can be adjusted better so resource consumption can be accurate to the cost.

Network Status

Mintscan – Chain explorer by COSMOSTATION

Cosmos chain explorer powered by Cosmostation, Block explorer for Cosmos-SDK based networks made with love &…

www.mintscan.io

Roadmap

Akash Network’s Whitepaper Version 1 was released in December 2017, and development started in January of 2018. Version 2 of the Whitepaper was released in March 2018, and in August 2018 Version 3 of the Whitepaper was released followed by a mainnet launched on September 25, 2020. Akash Network launched mainnet 2 on March 8, 2021, on the Cosmos SDK.

Akash Version 0.14.0

Staking Pool

Mintscan – Chain explorer by COSMOSTATION

Cosmos chain explorer powered by Cosmostation, Block explorer for Cosmos-SDK based networks made with love &…

www.mintscan.io

Team

Linkedin HomepageEmplpyees

Akash Network is built and maintained by a global team of renowned open-source, cloud, and blockchain developers, as well as seasoned experts from leading technology platform companies. Here belows the core team from Overclock Labs, creators of Akash, that actively builds and promotes the network:

For more information, please check here.

Funding

Overview

Akash Network has raised a total of $2M in funding over 1 round. This was a Venture — Series Unknown round raised on Mar 30, 2020. Furthermore, Akash Network is funded by 5 investors. Digital Asset Capital Management and George Burke are the most recent investors.

Details can be seen here.

Founding Rounds

Akash Network has raised a total of $2M in funding over 1 round. This was a Venture — Series Unknown round raised on Mar 30, 2020.

Investors

Akash Network is funded by 5 investors. Digital Asset Capital Management and George Burke are the most recent investors.

Technolgy

Code

Refer: https://github.com/ovrclk

Excluding merges, 6 authors have pushed 3 commits to main and 19 commits to all branches. On main, 6 files have changed and there have been 10 additions and 5 deletions.

Tech Knowledge

Akash network is a decentralized version of the cloud hosting model, Cloud hosting is dominated by four big centralized corporations, about 85% of Akash Networks’ cloud is leveraged from data centers that exist and are underutilized, this enables Akash Network to provide a cheaper and quicker alternative to developers. By allowing existing cloud service providers to compete to sell their excess capacity on the Akash Marketplace, will lower the cost of cloud computing for developers and thereby lower the cost for end-users of the developers’ application too. Akash Network Deployment Marketplace The Akash marketplace is a decentralized marketplace on the Akash Blockchain, which is built using the Cosmos Software development kit (SDK) Tendermint. The Akash blockchain records all data on-chain from the Akash Marketplace. The two main participants of the Akash Marketplace, Tenants and Providers. Tenants deploy container applications, while Providers host said applications. The marketplace uses Deployments, deployment provides a full description of resources a tenant is requesting to host their application on the Network, deployments are submitted to the Akash blockchain, storing the request on-chain, and immediately generating an order on the Akash Marketplace. The providers can bid on the deployment, and the tenants can choose the bid that suits their needs most, which will then generate a lease contract. After the creation of the lease, tenants will then submit a manifest to the provider, outlining specific workloads, and the provider will use the manifest to execute the workload, and the application will go live. Leases can be closed by either Tenants or Providers. Akash Network marketplace uses an escrow system to ensure trust, a tenant must deposit a sum for their request, and the provider will receive payments from the deposit.

Ecosystem-Governance

Governance Type: Delegated On-Chain Vote, Direct On-Chain Vote

Akash network upgrades and token economics changes can be proposed by a validator or a delegator, Then this will be brought to the Akash forum and will be debated on the forum, then it will be voted on, if it passed, it will move to the on-chain governance stage.

On-Chain Governance Details: Akash network upgrades and token economics changes can be proposed by a validator or a delegator, Then this will be brought to the Akash forum and will be debated on the forum, then it will be voted on, if it passed, it will move to the on-chain governance stage, in the on-chain governance stage once a proposal passed, The foundation and team will provide a timeline of implementation and implement it.

Delegate to a ValidatorVote on a Proposal

Economic Model

AKT is the nativetoken of the Akash Network. The core utility of AKT acts as a staking mecha-nism to secure the network and normal-ize compute prices for the marketplace auction. The amount of AKTs staked towards a validator defines the frequency by which the validator may propose a new block and its weight in votes to com-mit a block. In return for bonding (stak-ing) to a validator, an AKT holder becomes eligible for block rewards (paid inAKT) as well as a proportion of transac-tion fees and service fees (paid in any of the whitelisted tokens)

Supply

Launch Style: Private Sale, Initial Exchange Offering

Distribution Date: 09/25/2020

Initial Supply: 100,000,000

Token Sales:

(1) Private Sale March 30, 2020–33.8 million AKT was sold to Investors at the cost of $2000000

(2) Public Sale October 15, 2020-Public Sale on Bitmax

Token Functions

  • Governance

AKT holders can vote on network upgrades and allocation of the Decentralized cloud foundation’s funds and resources. Incentivization: AKT is used to incentivize providers to offer lower prices, and incentivizes stakers to participate in the network long term by staking.

  • Take Income

Once the network achieves more significant Gross Merchandise Value (GMV), rewards will comprise inflationary rewards and include a share of the total network spend (Take income) users pay.

  • Value Exchange

AKT provides a default mechanism to store and exchange value, and acts as a reserve currency in Cosmos’s multi-currency and multi-chain ecosystem.

  • Incentivization

AKT is used to incentivize providers to offer lower prices, and incentivizes stakers to participate in the network longer term by staking.

Distribution

Validator

Active Nodes

Validators are responsible for committing new blocks to the blockchain through voting. A validator’s stake is slashed if they become unavailable or sign blocks at the same height.

For Akash Network, the top 100 holding addresses will be the active validators: https://www.mintscan.io/akash/validators

Top 10 Nodes:

Last 10 Nodes:

Official Docs

Akash Node Deployment Via Omnibus

Run an Akash Node

Public RPC Nodes

Running a Validator

Competitors

Refer: https://www.crunchbase.com/organization/akash-network/org_similarity_overview

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About BlockPower

Our Services

Why do people trust us?

  1. We have started 7/24 staking services since 2018, and have managed over $100 million assets.
  2. We run highly available and redundant nodes in different data centers to achieve continuous operations.
  3. We are actively participating in community and governance, disclosing information frequently.

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