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Investing In Akash Network (AKT) – Everything You Need to Know

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Cloud computing has been available for years now, and when it first appeared, it was quite a revolutionary technology. For those who are not aware of what exactly it is, it can be described as the on-demand availability of computing resources. In other words, if you require things such as cloud storage for data, or computing power, cloud computing was offering it without direct active management by the user.

Larger services that offer cloud computing were capable of establishing data centers in multiple locations, which increases the range where cloud computing provided by that service is possible. But, in the end, cloud computing relies on sharing the resources in order to achieve coherence, and utilizes the pay-as-you-go model, meaning that it can reduce capital expenses, for the most part. In some cases, however, it can also lead to unexpected operating expenses, which is why users need to develop an awareness of how exactly it works, what it does, and alike.

Generally speaking, it has contributed to faster innovation, flexible resources, and similar benefits, and it allows regular people to access a wide range of applications and data from any location worldwide and from any device that can connect to the internet. However, like all other traditional technologies, it is still 100% centralized, where all the data is stored on servers held and operated by companies. As such, it does not offer total privacy and security, and it is not an appropriate solution for the upcoming Web 3.0. This is why Akash Network emerged, seeking to solve this problem and become the world’s first decentralized cloud computing marketplace.

What Problems Does Akash Network (AKT) Solve?

Akash Network emerged as a distributed P2P marketplace for cloud computing, and as such, it offers several solutions and solves several problems, including:

Permissionless cloud computing

Akash Network emerged with a vision of a world where cloud computing is sovereign, open, and above all — permissionless. Its idea is to allow builders of the internet, meaning developers of all online products, to have greater freedom when they create their products. The end result, according to the project, will be the expansion of the human experience, which is why Akash Network seeks to help create this future.

Disrupting cloud computing

Until now, most computing resources have been owned and operated by a handful of megacorporations — multi-billion dollar firms that have managed to establish a monopoly in this sector and effectively take all competition out of business, or absorb smaller businesses into their own, if they invented a more innovative way of doing things. This includes firms like Microsoft, Google, and Amazon. You likely know of their services like Microsoft Azure, Google Cloud, and Amazon Web Services.

Akash Network, on the other hand, is a decentralized protocol that cannot be treated in the same way as small centralized businesses, and the way it offers to democratize cloud computing is not profitable for these corporations, which is why they are not trying to get in and adopt its solutions. In other words, it is a perfect project to challenge the megacorporations and offer something better that they can neither match nor remove.

Great flexibility

Another thing to note is that Akash Network is extremely compatible with virtually all existing cloud applications, which means that it is accessible and useful to everyone who has such an app to deploy.

Open-source

Akash is an open-source cloud platform, which means that it runs open-source software which is fully transparent and available to everyone for inspection. As such, it creates competition in an open marketplace with more providers. Furthermore, by utilizing containerization and open-source technology, Akash leverages 85% of underutilized cloud capacity in 8.4 million global data centers.

Benefits of Akash Network (AKT)

Now, let’s talk about what benefits you can expect to experience personally by interacting with Akash Network. There are a few things to mention here, such as:

Quick and easy app deployment

If you are looking to deploy an app in a quick and easy way, Akash is the perfect place to do so. The project can do it in minutes, and there is nothing to set up, configure, nor any servers to manage. There are only three steps, which include defining your application, specifying resource requirements, and finally, setting up your price. You set up the price that providers bid on, which guarantees that you will get the best price possible.

Reduced cost for the developers

Developers who leverage Akash’s platform can access cloud computing at up to three times less than the cost of centralized cloud providers, according to Akash’s website. Plus, as mentioned, the network leverages 85% of underutilized cloud capacity in over 8 million global data centers.

Akash Application

Finally, Akash offers Akash Application, which contains everything required to run the project’s platform and marketplace. On top of that, it also has a command-line interface and is distributed in the project’s open-source GitHub repository.

How Does Akash Network (AKT) Work?

Akash is an open-source cloud platform that allows users to quickly deploy a Docker container to the Cloud provider of their choice. Plus, it offers to do it for a lower cost than Amazon, Microsoft, or Google — the three giants in the world of cloud computing.

The project offers its own marketplace, platform, and application, and getting started is extremely simple — it can be done in only three steps, and within minutes, with no need to set anything up, configure apps, manage servers, and alike.

In the end, Akash’s decentralized cloud is a shift from all available computing resources being owned and operated by mega-corporations. As such, Akash likes to describe itself as an Airbnb for server hosting, where user controls how much they pay, and what they get to use.

How to Buy Akash Network (AKT)

Currently, Akash Network (AKT) is available for purchase on the following exchanges.

Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.

The exchange offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state)

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.  This exchange currently accepts International & United States residents.

Akash Network (AKT) — The Unstoppable Cloud

Akash Network is a project that has great potential to strongly disrupt the cloud computing market, and as a decentralized and open-source protocol, it offers a much better deal regarding the security and privacy of user data than any of the major companies that have been dominating this sector since it was invented.

As a result, we believe that Akash Network definitely has a bright future in the world of Web 3.0, and while there is some time before Web3 arrives, this is a perfect time to invest in the project early on.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.