Akash Network
Download our cryptowallet
About Akash Network
Akash Network is an exciting new decentralized cloud computing marketplace that leverages unused compute capacity to provide affordable, flexible and secure cloud services. Built on top of the Cosmos blockchain, Akash utilizes a network of providers to offer serverless cloud infrastructure to developers, companies and individuals. This innovative platform aims to create the world’s largest cloud with over 4 million data centers in a shared pool.
How Akash Network Works
The Akash Network connects cloud buyers with providers of compute capacity. Providers stake AKT tokens to reserve data center capacity and get included in the provider pool. On the other end, buyers create a deployment configuration specifying compute, memory, storage needs and bid for capacity using AKT. The Akash Network automatically allocates capacity to the highest bidder from the available provider pool.
Smart contracts escrow the AKT tokens for the lease duration. Once the workload is completed, providers get paid automatically as per the agreed rates. This eliminates middlemen and allows providers to monetize spare capacity. For buyers, it enables accessing cloud infrastructure at up to 3X lower costs than hyperscalers like AWS.
The decentralized architecture ensures censorship resistance, resilience and high availability. The open market model incentivizes scaling supply to meet demand. As more providers join, availability goes up and prices become even more competitive.
Benefits of Using Akash Network
For buyers, Akash Network offers several benefits over centralized cloud providers:
- Up to 3X lower costs by eliminating middlemen margins
- Faster deployment times with capacity on-demand
- Censorship resistance for unhindered operation
- High scalability to meet workload needs
- Better data privacy and sovereignty
For providers, participating in Akash Network allows them to:
- Monetize spare compute capacity
- Get regular streaming revenue like passive income
- Contribute to the shared economy
- Support an open, decentralized network
The process is simple. Providers just need to install a container, specify resources and stake AKT to get started. The network handles demand matching, scheduling and payments automatically.
AKT Token
The native utility token of Akash Network is AKT. It has several roles:
- Providers stake AKT to reserve capacity to earn
- Buyers need AKT tokens to purchase capacity
- Validators also stake AKT tokens to secure the network
- AKT acts as the settlement currency between buyers and providers
Akash uses proof-of-stake for consensus with AKT staked for validating transactions. The total supply of AKT is 806 million of which 463 million was allocated for mining over 30 years. Around 85 million is in circulating supply currently.
Akash employs an elegant token bonding model. When providers stake AKT to reserve capacity, the tokens are locked for 28 days stake bonding period. This ensures long term commitment to the network. The network rewards these providers with a portion of protocol fees earned in addition to capacity lease payments.
Use Cases for Akash Network
Some of the popular use cases for Akash Network include:
Scalable Web Services – Deploy scalable web apps, microservices and backends to handle growing traffic in a cost-efficient manner. The serverless infrastructure auto-scales up or down based on demand.
AI/ML Workloads – The distributed network of GPU/TPU machines allows running compute intensive AI/ML workloads in parallel across edge devices.
Data Analytics – Run big data pipelines, distributed training models and ad-hoc analytics workloads by leveraging the compute capacity across data centers.
Blockchain Infrastructure – Akash is ideal for spinning up infrastructure for blockchain nodes, miners, validators etc. This allows supporting scalable deployments.
Metaverse Environments – The compute and rendering capacity can be utilized to power metaverse and game environments in a secure manner.
Web 3.0 Applications – Building web3 apps such as DeFi platforms to take advantage of censorship resistance, privacy and self-custody of data.
Edge Computing – Enable localized edge compute near users by leveraging capacity distributed across metro locations.
Future Development Plans
Akash Network has an ambitious roadmap planned for the future:
- Support for ARM and RISC-V architectures for edge computing use cases
- Advanced replication, data persistence and redundancy for storage
- Multi-party computation capabilities for privacy-preserving data analytics
- Robust access controls and identity management for users
- Interoperability with other blockchains and bridges
- Further decentralization by transitioning to DAO based governance
- Developer SDKs, improved UX and simplified provisioning for buyers
These developments will cement Akash Network’s position as the de facto open cloud standard and marketplace for web3 and decentralized workloads.
Partnerships and Integrations
Akash Network has partnered with several projects to expand adoption and use cases:
- Equinix Metal – Top global datacenter provider with integration to expand capacity
- Chainlink – Oracle network integration to enable hybrid smart contracts
- Mantle – Gaming API standard to support blockchain gaming workloads
- Figment.io – Collaboration to provide staking and shared security
- Mask Network – Enable decentralized social media on Akash infrastructure
- CertiK – Smart contract audits and crypto security solutions
Akash is also backed by notable investors like Alameda Research, Hyperchain Capital, Hashed and Lemniscap. These partnerships validate the strong momentum behind Akash Network.
In summary, Akash Network is ushering in the future of cloud by leveraging decentralization to create a scalable, secure and affordable marketplace. Its growth trajectory has been impressive given the clear value proposition. With more adoption and integrations, Akash Network aims to become the open source for cloud computing in the web3 era.
