AKT
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AKT

Akash Network 2-5 years
Website https://akash.network
Browser
OTH RELPs
White Paper
Avg Price
0.00%
1D

$ 0.00 USD

$ 0.00 USD

Market Cap

$ 1.3745 billion USD

$ 1.3745b USD

24h trading volume

$ 11.495 million USD

$ 11.495m USD

7d Vol

$ 108.111 million USD

$ 108.111m USD

Circulating supply

230.271 million AKT

Related information

Issue Time

2021-01-01

Platform pertained to

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Current price

$0.00USD

Market Cap

$1.3745bUSD

Volume of Transaction

24h

$11.495mUSD

Circulating supply

230.271mAKT

Volume of Transaction

7d

$108.111mUSD

Change

24h

0.00%

Number of Markets

70

Token conversion

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Current Rate0

Available

0.00USD

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Historical Price

Introduction

Markets

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Aspect Information
Short Name AKT
Full Name Akash Network Token
Founded Year 2019
Main Founders Greg Osuri
Support Exchanges Binance, Huobi, OKEX, BitMax
Storage Wallet Ledger, Trezor, MetaMask

Overview of AKT

The AKT, also known as Akash Network Token, is a cryptocurrency that was founded in 2019. It was primarily established by Greg Osuri. The AKT token is supported by multiple exchanges, including Binance, Huobi, OKEX, and BitMax. As for storage, the AKT token can be stored in several types of wallets, such as Ledger, Trezor, and MetaMask. The Akash Network is designed as a decentralized cloud computing marketplace, aiming to reduce costs and increase the efficiency of cloud computing. The AKT token is utilized within the network for various functions, including staking, governance, and as a medium of exchange.

overview

Pros and Cons

Pros Cons
Supported by multiple exchanges Limited to specific wallets
Used in decentralized cloud computing marketplace Relatively new, lacks established track record
Functions include staking, governance Dependent on the success of the Akash Network
Medium of exchange within network Potentially complex for non-tech users

Pros:

- Supported by multiple exchanges: The AKT token is supported and traded on several renowned cryptocurrency exchanges including Binance, Huobi, OKEX, and BitMax. This broad level of support increases its accessibility for investors and traders globally.

- Used in a decentralized cloud computing marketplace: AKT serves as the functional unit within the Akash Network, a decentralized and open-source cloud platform. Its use within this marketplace potentially decentralizes and optimizes the world of cloud computing.

- Functions include staking and governance: Besides being a medium of exchange within the Akash Network, the AKT token also contributes to network security through staking. Furthermore, it allows holders to participate actively in the governance and decision-making processes within the network.

- Medium of exchange within the network: The AKT token is used as a medium of exchange within the Akash Network, enabling transactional activity and exchange of services within the network's marketplace.

Cons:

- Limited to specific wallets:While AKT can be stored in several types of wallets, these are specifically Ledger, Trezor, and MetaMask. This limitation might prevent users of other wallets from easily storing and transacting with the token.

- Relatively new, lacks established track record:As AKT was founded in 2019, it is relatively new within the cryptocurrency market. This lack of a long-standing reputation may cause skepticism among potential investors.

- Dependent on the success of the Akash Network: The viability and value of the AKT token largely depend on the success and adaptation of the Akash Network. Any stagnation or downfall of the network may negatively impact the token's value and legitimacy.

- Potentially complex for non-tech users: Given its function within a decentralized cloud computing platform, understanding and utilizing AKT might prove complex for those users who are not particularly tech-savvy.

What Makes AKT Unique?

The Akash Network Token (AKT) demonstrates its innovation primarily through its integration within the Akash Network, a decentralized cloud computing marketplace. This network aims to revolutionize the cloud computing industry by offering a cost-effective, efficient, and open-source alternative to the conventional centralized cloud providers.

Different from many cryptocurrencies that are primarily used as an alternative to traditional fiat currencies, AKT has a dedicated and specific utility within its native network. AKT serves as a medium of exchange, governance tool, and staking tool within the Akash ecosystem, enabling transactional activity among users and facilitating participatory governance within the network. This multi-functional approach is a distinctive aspect of AKT when compared to many other cryptocurrencies.

However, it's noteworthy to mention that despite its innovative applications within the Akash Network, the value and success of AKT are tied directly to the success and adoption of the Akash Network. A failing or stagnant network could negatively impact the token's legitimacy and value. It's also worth noting that while AKT's role within a decentralized cloud marketplace showcases its innovation, it might present complexities to users who are not tech-savvy, potentially limiting its widespread adoption.

unique

Circulation of AKT

Circulating supply: The circulating supply of Akash Network (AKT) is currently 218,887,035 tokens. This means that these are the tokens that are currently available to buy and sell on exchanges.

Price fluctuation: The price of AKT has fluctuated significantly since its launch in April 2021. It reached an all-time high of $8.07 on April 6, 2021, but has since fallen to its current price of $0.8043 as of September 25, 2023.

There are a number of factors that can contribute to the price fluctuation of AKT, including:

  • Supply and demand: The price of AKT is determined by the supply of tokens available and the demand for those tokens. If there is more demand for AKT than there is supply, the price will go up. Conversely, if there is more supply of AKT than there is demand, the price will go down.

  • News and market sentiment: Positive news and developments surrounding AKT can boost demand for the token and drive up the price. Conversely, negative news and developments can dampen demand and drive down the price.

  • Overall market conditions: The cryptocurrency market as a whole is volatile and can experience significant price fluctuations. AKT is not immune to these fluctuations and its price can be affected by broader market conditions.

Additional notes: Akash Network is a decentralized cloud computing platform that allows users to rent and sell computing power. AKT tokens are used to pay for cloud computing resources on the Akash Network platform and to participate in governance.

The Akash Network team is working on a number of initiatives, including expanding the Akash Network ecosystem and launching new features. If the team is successful in executing on its plans, this could boost adoption and demand for AKT.

Overall, Akash Network is a promising project with a number of potential benefits. However, it is important to be aware of the risks associated with investing in a cryptocurrency, including the risk of price volatility.

Investors should carefully consider their own risk tolerance and investment goals before investing in AKT.

How Does AKT Work?

The working mode and principle of the Akash Network Token (AKT) are intrinsically linked with the Akash Network, a decentralized and open-source cloud computing marketplace.

The network is structured around a blockchain-based bidding process to allocate cloud computing resources. In this model, those who want to rent out their unused computing capacity (providers) can participate in a bidding process where they offer their resources to the customers who need them (tenants).

The AKT token is integral to this process. It is used as a medium of exchange within the network, letting users pay for services and computing resources with the token. Providers will also stake AKT tokens as a form of escrow to show good faith and commitment to abide by the agreements in the lease. If a provider fails to fulfill the terms of the lease, they risk losing their staked AKT.

Aside from this fundamental use within transactions, AKT can also be staked to contribute to network security and participate in network governance. By staking tokens, holders can vote and partake in decisions relating to the network's updates and development.

In essence, the working principle of AKT is to facilitate secure, efficient, and decentralized cloud computing transactions while also ensuring network security and participatory governance within the Akash Network.

Exchanges to Buy AKT

There are numerous exchanges where you can buy the Akash Network Token (AKT). Please note that the available currency pairs and token pairs may vary over time, for precise and updated information, you can directly visit the specific exchange. Here are deemed examples of ten exchanges that support the purchase of AKT:

1. Binance: Supports AKT pairs with BTC (Bitcoin), ETH (Ethereum), and USDT (Tether).

2. Huobi: AKT can be traded with HT (Huobi Token), USDT, and BTC.

3. OKEx: Offers AKT trading pairs with USDT, BTC, and ETH.

4. BitMax: Allows trading AKT with USDT.

5. AscendEX (BitMax): Supports trading AKT with USDT.

6. MXC: You can trade AKT with USDT on this exchange.

7. Hotbit: Offers AKT trading pairs with BTC and USDT.

8. Gate.io:On this exchange, AKT can be traded with USDT.

9. KuCoin: Allows trading AKT with USDT and BTC.

10. Bilaxy: Supports AKT pairs with BTC and ETH.

Remember, always do your research and verify the information on the specific platform or from a reliable source before trading.

exchanges

How to Store AKT?

The Akash Network Token (AKT) can be stored in several digital wallets compatible with the Cosmos ecosystem, given that the Akash Network is built on the Cosmos blockchain. The type of wallet you choose often depends on the levels of security, ease of use, and convenience you desire. Here are some types of wallets that support AKT:

1. Hardware Wallets: These are physical devices that securely store users' private keys offline in a protected area of a microcontroller. They are immune to computer viruses and are considered the safest option for large amounts of AKT. Examples include Ledger and Trezor.

2. Web Wallets: Web wallets are accessible through a web browser. These wallets are easy to access and use, but not as secure as hardware wallets. Therefore, they are usually not recommended for storing large amounts of AKT. An example of a web wallet supporting AKT is MetaMask.

3. Desktop Wallets: These wallets are software applications that an individual installs and runs on their personal computer. While they offer good security, they can be compromised if the user's computer is infected with malware.

4. Mobile Wallets:Mobile wallets are apps on a smartphone. They are convenient to use, especially for making in-store payments and accessing your cryptocurrencies on the go.

5. Paper Wallets: A paper wallet is a document that contains a public address for receiving AKT and a private key, which is used to sign transactions. The document is usually printed in the form of a QR code.

It's important to keep in mind that whatever wallet you choose, security should be the top priority. Always ensure that the wallet is from a trustworthy source, and remember to keep your private keys and recovery phrases safe. It's also advisable to consider using multi-signature wallets and keeping your software updated for added security. Different wallets may suit different purposes. Therefore, always choose the one that best suits your needs for transacting and storing your AKT.

Should You Buy AKT?

Determining who is suitable to buy AKT, or any other type of cryptocurrency, largely depends on an individual's investment goals, risk tolerance, and technological understanding.

1. Technologically Savvy Users: Given that AKT is integrated within a decentralized cloud computing market place, potential buyers should preferably have an understanding of blockchain technology and the concept of decentralized systems.

2. Risk-tolerant investors: Cryptocurrency investments, including AKT, are inherently volatile and speculative. They should only be undertaken by those who can afford to lose their investment and are comfortable with volatility.

3. Supporters of the Akash Network: Individuals who believe in the potential of the Akash Network - a decentralized, open-source cloud computing platform - might wish to invest in AKT.

4. Long-term Investors:Investors with a long-term investment horizon might be more suited to invest in AKT. Given it's still a relatively new blockchain technology project, it may take some time for the project to realize its full potential.

5. Individuals interested in staking or governance: AKT tokens are used for staking and governance within the Akash network. If an investor is interested in these aspects, investing in AKT can also be considered.

For those who are considering buying AKT, it's important to conduct thorough research and due diligence before making the decision to invest. Consider the project's potential, the team behind it, its technological abilities, and market position compared to similar projects. It's also important to consider the regulatory environment and potential risks associated with cryptocurrency investments. When buying AKT or any other cryptocurrency, only invest money you can afford to lose. If possible, consult with a financial advisor who understands the crypto market before making investments.

Conclusion

The Akash Network Token (AKT) is an integral part of the Akash Network, a decentralized cloud computing marketplace aimed at disrupting traditional cloud service providers. AKT is not just a medium of exchange, but plays a vital role in network security through staking and in governance within the system. It has the backing of reputed exchanges which enhances its accessibility to global investors.

However, its success can't be isolated from the broader success of the Akash Network. The AKT token's value and viability are tied to the network's adoption and performance. Therefore, the development prospects of AKT are, in essence, the development prospects of the Akash Network itself.

As a cryptocurrency investment, AKT, like any other, carries inherent risks. The cryptocurrency market is notorious for its volatility and unpredictability. Despite the potential presented by its innovative applications within the Akash Network, AKT's financial returns cannot be guaranteed.

Investors considering to invest in AKT must do their due diligence, understand the underlying technology, and be prepared for potential losses. Ultimately, whether AKT can appreciate or generate returns will depend on various factors including market demand, regulatory developments, technological advancements, and the overall success of the Akash Network. All potential investors should approach with caution and perhaps seek advice from a financial advisor.

FAQs

Q: Is AKT dealt with on different exchanges?

A: Yes, the AKT token is traded on a spectrum of exchanges, including Binance, Huobi, OKEX, and BitMax, among others.

Q: Briefly, what is unique about the role of AKT within the Akash Network?

A: AKT's uniqueness lies within its multifunctionality in the Akash Network, acting not only as a means of exchange but also as a tool for staking and in governance mechanisms.

Q: Are there certain wallets in which I should store my AKT?

A: AKT can be stored in a set of wallets, including hardware wallets like Ledger and Trezor, and the web wallet MetaMask, although the choice should be based on personal needs and security considerations.

Q: What kind of risk is associated with investing in AKT?

A: Investment in AKT, just like any other cryptocurrency, involves inherent risks due to the volatile nature of cryptocurrencies and dependency on the success of the Akash Network.

Q: Can anyone predict the future success of the AKT token?

A: It's impossible to precisely predict the future success of the AKT token as it depends on a number of factors including market demand, regulatory changes, technological advancements, and the overall success of the Akash Network.

Q: Can I participate in the Akash Network's decision-making process by holding AKT?

A: Yes, AKT token holders can participate in the network's governance and decision-making process, highlighting the coin's functionality beyond being just a medium of exchange.

Q: What factors should I consider before investing in AKT?

A: Before investing in AKT, factors to consider include understanding the underlying technology, risk tolerance, regulatory environment, and the potential risks and returns associated with cryptocurrency investments.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

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5 ratings

Participate in evaluation
leofrost
In my personal review, Akash aims to create a decentralized cloud computing marketplace. AKT is used for staking, participating in network governance, and facilitating transactions within the Akash ecosystem. The project's focus on providing a more cost-effective and decentralized alternative to traditional cloud services adds a unique value proposition. Monitoring Akash Network's progress, partnerships, and the adoption of its decentralized cloud solutions can provide insights into the ongoing significance of AKT.
2023-11-30 21:53
2
0
Dory724
Decentralized cloud. Unique niche, strong team. Monitor adoption and competition in cloud services.
2023-11-28 19:08
2
0
Windowlight
Great project with a solid team and clear vision. Exciting developments ahead!
2023-12-22 02:32
4
0
Dazzling Dust
Akash Network stands as a Supercloud at the forefront of a transformative shift in cloud computing. It disrupts conventional cloud services, leading a revolution in accessing essential cloud resources. Powered by blockchain technology, Akash Network introduces an open-source, decentralized marketplace for cloud computing, redefining speed, efficiency, and affordability. This groundbreaking innovation is poised to reshape user perspectives and practices in the realm of cloud services.
2023-11-27 10:22
5
0
Jenny8248
Its value and use are connected to the network's services, aiming to provide a marketplace for cloud resources.
2023-12-04 20:09
6
0