AKAT Network (AKT) Complete Guide: The Future of Distributed Cloud Computing Made Easy for Beginners
Introducing Akash Network (AKT)
Akash Network is not just a simple blockchain project. It is an innovative distributed cloud computing platform that efficiently connects computing resources distributed around the world. Unlike existing centralized cloud services such as AWS and Google Cloud, Akash Network connects the spare computing power owned by individuals and companies around the world to build a massive distributed cloud.
The biggest feature of this platform is that anyone can provide their own server or computer to the network and earn revenue. At the same time, developers and companies can use high-quality cloud services at up to 90% lower cost than existing cloud services. In particular, it is used for various purposes such as AI model training, web application hosting, and database operation.
History and Evolution of Akash Network
Akash Network's journey began in 2015 when Greg Osuri and Adam Bozanich wanted to solve the centralization problem of cloud computing. At the time, Amazon and Google monopolized the cloud market, which led to high prices and limited choices.
The first testnet was launched in 2018, and the mainnet was officially launched in September 2020. It received a lot of attention from the beginning, especially with the cryptocurrency boom in 2021, when the value of the AKT token increased significantly. Currently, thousands of active applications are running on Akash Network, and new features and updates are continuously added every month.
From 2023, we will focus specifically on GPU rental services along with the AI boom. With the explosive growth of AI services like ChatGPT, the demand for GPUs has skyrocketed, and Akash Network has become the perfect solution to provide them at low prices.
Akash Network's Innovative Working Principle
The Akash Network's working principle is really interesting. It uses a completely different approach from traditional cloud services. The core is the 'reverse auction' system.
When a user requests computing resources with specific specifications, providers around the world offer their own prices. The system then automatically selects the most competitive offer. During this process, the blockchain based on the Cosmos SDK transparently records and manages all transactions and contracts.
It can also process thousands of transactions per second quickly using the Tendermint consensus algorithm. Each computing resource provider reports the status and performance of their server to the network in real time, and is automatically compensated through smart contracts. If the service quality falls short of the agreement, a penalty is automatically imposed.
Akash Network's Various Applications
Akash Network's application scope is really wide. One of the most popular areas is AI model training and inference. Training AI models such as OpenAI's ChatGPT or Stable Diffusion requires enormous GPU power, but Akash Network can be used at a much lower cost than existing cloud services.
It is also widely used in web development. Startups can launch their services without the burden of server costs in the early stages, and it can automatically scale as traffic increases. In particular, there are increasing cases of DeFi (decentralized finance) protocols building their backend infrastructure on the Akash Network.
It is also attracting attention in the gaming industry. Blockchain games or NFT games can greatly save costs by utilizing the Akash Network when operating game servers. In addition, the number of services that require in-game metaverse environments or real-time rendering is increasing.
Recently, it has been increasingly used in the fields of data analysis and scientific research. University labs and medical research institutes are utilizing the computing power of the Akash Network for complex simulations or big data analysis.
Major exchanges where Akash Network can be traded
AKT tokens can currently be traded on most major exchanges around the world. In Korea, Upbit, Bithumb, and Coinone allow direct trading in Korean won, and Binance, Kraken, and Kucoin are actively traded overseas.
Each exchange has different features. Binance offers the highest liquidity and a variety of trading pairs, while Upbit supports KRW trading, which is the most accessible to Koreans. Coinbase is popular with US users, and OKX has good futures trading and margin trading services.
When choosing an exchange, check not only the trading fees but also the security, customer service, and convenience of deposits and withdrawals. In particular, the higher the trading volume, the narrower the bid/ask spread, allowing you to trade at a more favorable price. There are also exchanges that offer staking services, so if you plan to hold for the long term, please consider this as well.
Active Akash Network Community Ecosystem
Akash Network's community is very active and solid. The official Discord server has tens of thousands of users sharing information in real time, and developers are directly involved to answer questions. They also hold weekly AMA (Ask Me Anything) sessions to address the community's questions.
Telegram groups are also divided by language. The Korean group is where information and discussions are held exclusively for Korean users, and Korean updates and translations are also provided regularly. The Reddit community shares more in-depth technical discussions and analysis materials.
One of the most notable features is the 'Akash Insiders' program. It selects active contributors from the community and provides them with beta test participation opportunities and special benefits. It also regularly hosts hackathons and developer contests to encourage new ideas and application development.
A safe and convenient Akash Network wallet guide
Choosing the right wallet is important to safely store your AKT tokens. The most popular option is the Keplr wallet, a browser extension designed exclusively for the Cosmos ecosystem. Keplr allows you to use all functions, including AKT token storage, staking, and governance voting.
For mobile users, I recommend the Cosmostation app. It supports both iOS and Android, and anyone can use it easily with its intuitive interface. In particular, it is preferred by many users because it is convenient to check real-time staking rewards and validator information.
For hardware wallets, Ledger Nano S/X supports AKT. If you plan to store a large amount of tokens for a long time, a hardware wallet is the safest choice. It is completely isolated from hacking risks and only needs to be connected to a computer when trading.
Essential considerations for smart investment
There are important things to know when investing in Akash Network. First, AKT is a utility token, so it is directly related to network usage. Therefore, it is important to continuously monitor the actual utilization and ecosystem growth of Akash Network rather than simple speculation.
When analyzing the market, also look at the overall trends of the cloud computing market. Price changes in existing services such as AWS and Microsoft Azure and the launch of new services have a significant impact on Akash Network. In addition, changes in technology trends such as the AI boom are factors that greatly affect the price of AKT.
The most important thing is to diversify your investment. No matter how good a project is, you cannot avoid the volatility of the cryptocurrency market. It is wise to invest only 5-10% of your total portfolio in AKT and diversify the rest to other assets. It is also important to set a clear investment plan and loss limit rather than emotional trading.
Akash Network's Bright Future Prospects
Akash Network is an innovative technology that solves real-world problems beyond a simple cryptocurrency project. With the cloud computing market growing by more than 15% annually, and especially with the explosive increase in computing demand in the AI and machine learning fields, the value of Akash Network is expected to increase even more.
Looking at the 2024 roadmap, there are interesting updates planned, such as the advancement of the GPU marketplace, improvements to the automatic scaling function, and integration with more blockchain networks. In particular, a project to integrate the latest AI chips such as the Nvidia H100 into the network is also underway.
In the long term, it is highly likely that it will establish itself as a strong alternative to traditional cloud services. The characteristics of Akash Network, which are cheaper, more transparent, and censorship-resistant, are expected to appeal to more and more developers and companies. We hope that you will continue to pay attention and study to grow this innovative technology!