Akash Network, stands out as a decentralized and open-source computing platform. The project’s cryptocurrency, AKT, showed a 2400% price increase over the past year. This price increase made AKT one of the best performers in the top 100 of the crypto market. This impressive performance has garnered significant interest within the crypto community.
Akash Network Emerges as the New Star in the Crypto Universe
While Bitcoin (BTC) and other leading cryptocurrencies experienced price corrections, Akash Network and its native token rapidly ascended. To understand the dynamics behind this rise, it is necessary to delve deeper into the value offered by Akash Network and the underlying technology.
Founded in March 2018 by Overclock Labs, Akash Network was born as a distributed cloud computing marketplace with the aim of decentralizing cloud computing. Overclock Labs initially set out to create traditional multi-cloud deployment platforms but eventually decided to launch Akash. Thus, they realized their vision of making the power of cloud computing distributed and more accessible.
According to Messari, Akash Network acts as a bridge between server owners and applications needing computing power. This bridge is established through the Akash Marketplace, where computing resources are bought and sold. Akash Network enables users to offer their cloud computing resources. The foundation of Akash Network is based on a Blockchain infrastructure developed using the Cosmos SDK and based on the Tendermint consensus mechanism.
The Project Continuously Shows Development
Since its launch in September 2020, Akash Mainnet has continuously developed and taken significant steps to enhance the network’s functionality. During this process, important upgrades such as the introduction of Akash Marketplace, flexible pricing, and Inter-Blockchain Communication (IBC) compatibility were made. Enhancements like deployment tools, audited features, and Tendermint’s State Synchronization also stand out in improving user experience.
Subsequent upgrades have positioned Akash as a leading platform in cloud computing and artificial intelligence development. By offering support for GPUs and stable payments, Akash has positioned itself as an open-source marketplace for high-density GPUs and a distributed cloud for large language models. With this transformation, Overclock Labs launched Akash ML, offering GPU spot instances to AI developers and planning to provide on-demand access in the future.
Future upgrades will focus on mandating minimum validator commissions, improving GPU visibility, and providing verified offers in multi-service deployments. With these developments, Akash Mainnet will continue to hold a pioneering position in the fields of cloud computing and AI development.
AKT Coin Breaks Significant Trend Line
Recently, Akash Network’s cryptocurrency AKT has gained significant momentum. In the last 24 hours, it rose to $5.71, marking a notable increase of 15.63%.
This positive movement is underpinned by a clear indicator, as AKT has surpassed a significant trend line in the 4-hour time frame. This situation indicates a potential reversal of the previous downward trend and suggests a momentum that could predict higher prices for AKT.
The future of AKT focuses on maintaining the previous week’s highest level of $5.095 as a solid support level. As long as it stays above this level, AKT is expected to strengthen its gains and solidify its position in the market.
