**Akash Network** is a decentralized cloud computing platform that uses [blockchain](https://iq.wiki/wiki/blockchain) technology to create a global marketplace for computing resources. It allows individuals and organizations to buy and sell computing power in a [peer-to-peer](https://iq.wiki/wiki/peer-to-peer-trading-p2p) manner, similar to how other decentralized networks enable the sharing of resources like storage or bandwidth. The network is powered is the AKT token.[\[1\]](#cite-id-84gof8emvdg)  
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## History  
  
Upon the launch of Akash Network's mainnet 1.0 in September 2020, there were 100,000,000 pre-mined AKT tokens available, with a maximum supply cap of 388,539,008 AKT. These tokens were distributed among investors, the Akash Network foundation, and the project team. A public sale of 1,800,000 AKT was also conducted. [\[12\]](#cite-id-0yc8nwkboc8l)  
   
In March 2021, Akash Network transitioned from testnet phases to a live, public release with the launch of mainnet 2.0. During the testnet phases, numerous developers deployed thousands of applications on its decentralized cloud infrastructure. Akash introduced the Supermini, a miniature supercomputer designed for end users to become cloud providers, earning passive income in AKT tokens. This innovative approach enabled users to participate in cloud computing from their homes without the need for data centers. [\[12\]](#cite-id-0yc8nwkboc8l)  
   
In November 2022, Akash upgraded to Mainnet 4, introducing features such as IP leases that allow tenants to request publicly routable IP addresses for their services. This upgrade also implemented Cosmos IBC3, enabling transactions between different chains and enhancing Akash Network's integration with the wider Cosmos ecosystem. Interchain Accounts (ICA) provided access to interchain composability, significantly improving the user experience. [\[13\]](#cite-id-8qfguhst8nk)  
   
The sixth mainnet upgrade in August 2023 brought significant enhancements to Akash Network. GPU support was introduced, allowing providers to offer GPU resources to deployers globally. Both providers and deployers gained access to USDC settlement, enabling value capture through Take Rates on both USDC and AKT. This upgrade also facilitated the creation of an open-source marketplace for high-density GPUs. Initially focused on NVIDIA GPUs, the network's future plans include extending support to other manufacturers like AMD and others.[\[14\]](#cite-id-44x6mhitis4)  
  
# Overview  
  
Akash Network is a decentralized cloud computing marketplace that connects providers and consumers of cloud resources. It is built on the [Cosmos](https://iq.wiki/wiki/cosmos) SDK and uses a [Proof-of-Stake](https://iq.wiki/wiki/proof-of-stake) [consensus mechanism](https://iq.wiki/wiki/consensus-mechanism). Akash Network aims to provide a more affordable, secure, and transparent alternative to traditional cloud providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP).[\[1\]](#cite-id-84gof8emvdg)[\[3\]](#cite-id-z03f3d1yti)  
  
Akash Network works by allowing providers to lease out their unused computing capacity to consumers. Consumers can then use these resources to deploy and run their applications. All transactions on the Akash Network are secured by the AKT token, which is used to pay for cloud resources and to incentivize providers to participate in the network. [\[1\]](#cite-id-84gof8emvdg)[\[3\]](#cite-id-z03f3d1yti)[\[4\]](#cite-id-jjg2vqvk7x)  
  
Akash was co-founded by [Greg Osuri](https://iq.wiki/wiki/greg-osuri) and [Adam Bozanich](https://iq.wiki/wiki/adam-bozanich). Greg Osuri currently operates as the Chief Executive Officer and Adam Bozanich has charge as the Chief Technology Officer.  
  
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# $AKT Token  
  
AKT token is the native utility token of the Akash Network which is used to facilitate transactions and operations within the Akash ecosystem. AKT tokens are staked by network providers as [collateral](https://iq.wiki/wiki/collateral), ensuring the integrity and reliability of services offered. AKT is used as the primary means to govern the network, secure the blockchain, incentivize participants, and provide a default mechanism to store and exchange value. It also acts as a powerful incentive, rewarding active participants, including validators and developers. [\[11\]](#cite-id-d6mdoq9s5cp)  
  
AKT provides a default mechanism to store and exchange value and acts as a reserve currency in Cosmos’ multi-currency and multi-chain ecosystem. The frequency of new block proposals by validators is dependent on the number of AKTs staked towards such validators. In compensation for staking or bonding to a validator, holders of the AKT token gain eligibility for block rewards which are paid out in AKT and also a portion of the transaction and service fees, this can be paid out in any of the whitelisted tokens. [\[4\]](#cite-id-jjg2vqvk7x)[\[6\]](#cite-id-8n7lqe7rj0e)  
  
### AKT 2.0  
  
AKT 2.0 is an ongoing effort to bring new token features and utility to Akash and AKT token. These features will generate value for the network by funding critical incentive pools that will support network growth and development, a wide range of currency options for lease settlement, and much more.  
The main features of AKT 2.0 are the take and make fees, stable payment and settlement, incentive distribution pool, provider subsidies, and public goods fund.[\[11\]](#cite-id-d6mdoq9s5cp)  
  
### Tokenomics  
  
Akash Network is built on the platform of the [Cosmos](https://iq.wiki/wiki/cosmos) hub and runs on a sovereign [proof-of-stake](https://iq.wiki/wiki/proof-of-stake). The AKT operates as the reserve currency in Akash’s multi-chain ecosystem, simultaneously validating the economic security of the public chain through staking. The Akash's distribution includes a 100,000,000 genesis supply and a 388,539,008 AKT max supply. [\[8\]](#cite-id-5sau5dzq4wv)  
  
#   
  
# Features  
  
1. Decentralization: Akash Network leverages blockchain technology, operating on the Cosmos network, to ensure decentralization. This means that it is not controlled by a single entity, making it more resilient and secure.[\[6\]](#cite-id-8n7lqe7rj0e)  
2. Global Marketplace: Akash Network operates a marketplace where computing resource providers can list their available resources, and consumers can find and rent these resources. This creates a dynamic ecosystem for efficiently allocating computing power.  
3. Containerization: Akash primarily utilizes containerization technology, specifically Docker containers, for packaging and deploying applications. This simplifies application management and deployment for developers.,[\[6\]](#cite-id-8n7lqe7rj0e)  
4. Security: The network incorporates cryptographic and blockchain-based security measures to protect transactions and data integrity, ensuring a high level of security for users.  
5. Economic Incentives: Akash uses its native cryptocurrency, AKT, for transactions within the network. Users are economically incentivized to provide computing resources, helping maintain a stable and efficient marketplace.[\[6\]](#cite-id-8n7lqe7rj0e)  
6. Open Source: Akash Network is an open-source project, encouraging community participation and development. This open nature fosters innovation and transparency in the platform's evolution.  
7. Cost-Effective Cloud Computing: Akash Network presents a cost-effective and decentralized alternative to traditional cloud computing services. Users can access global computing resources and often find competitive prices compared to centralized cloud providers.[\[6\]](#cite-id-8n7lqe7rj0e)

In September 2020, Greg Osuri, Adam Bozanich, and Boz Menzalji co-founded the Akash Network

Date Founded

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Akash Network is a decentralized marketplace for cloud resources, utilizing blockchain technology to enable peer-to-peer transactions powered by AKT token.

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