Akash Network (AKT) Metrics
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Akash Network (AKT)
What is Akash Network?
Akash Network (AKT) is a decentralized cloud computing platform launched in 2020 by Overclock Labs. It aims to provide a more open, secure, and cost-effective alternative to traditional cloud service providers. Operating on the Cosmos blockchain, Akash Network utilizes a proof-of-stake consensus mechanism to facilitate the deployment and management of applications in a decentralized manner. The native token, AKT, serves multiple purposes within the network, including being used for transaction fees, staking, and governance. This enables token holders to participate in decision-making processes, such as protocol upgrades and resource allocation. What distinguishes Akash Network is its focus on decentralization and cost efficiency, offering developers the ability to deploy applications at a fraction of the cost compared to centralized cloud providers. This unique approach positions Akash Network as a significant player in the cloud computing space, appealing to developers seeking scalable and affordable infrastructure solutions.
When and how did Akash Network start?
Akash Network originated in September 2018 when Greg Osuri and Adam Bozanich founded the project under Overclock Labs. The project's whitepaper was released around this time, outlining its vision for a decentralized cloud computing marketplace. Akash Network's initial development milestones included the launch of its testnet in March 2020, which allowed developers to begin experimenting with its decentralized infrastructure. This was followed by the mainnet launch in September 2020, marking its initial public availability and enabling broader participation in its ecosystem. The token's initial distribution occurred via a public sale, which helped to fund the project's early development and expansion. These foundational steps established Akash Network's presence in the decentralized cloud computing sector, setting the stage for its ongoing growth and innovation.
What’s coming up for Akash Network?
According to official updates, Akash Network is preparing for several key developments. One of the significant upcoming milestones is the launch of Akash Network's "Mainnet 2," which is targeted for the fourth quarter of 2023. This upgrade focuses on enhancing network scalability and performance, allowing for more efficient resource allocation and improved user experience. Additionally, Akash Network is working on integrating with other blockchain ecosystems to expand its decentralized cloud computing capabilities. These integrations are expected to be completed by early 2024. Furthermore, Akash Network is planning governance improvements that will enable more community-driven decision-making processes. This initiative is slated for implementation in the first half of 2024 and aims to increase transparency and engagement within the network. Progress on these initiatives can be tracked through their official GitHub repository and roadmap updates. These milestones are set to strengthen Akash Network's position as a leading decentralized cloud platform by enhancing its technological capabilities and community involvement.
What makes Akash Network stand out?
Akash Network stands out through its decentralized cloud computing platform, which leverages a unique proof-of-stake consensus mechanism to provide scalable and cost-effective cloud services. This architecture allows developers to deploy applications quickly and efficiently, offering an alternative to traditional cloud providers by utilizing underutilized data center capacity. Akash's interoperability is enhanced by its integration with the Cosmos ecosystem, enabling seamless cross-chain interactions and expanding its reach within the blockchain community. The network's governance model is community-driven, allowing stakeholders to participate in decision-making processes, which fosters transparency and adaptability. Akash Network also features a robust developer toolkit, which simplifies the process of building and deploying applications on its platform. Additionally, partnerships with key players in the blockchain and technology sectors contribute to its growing ecosystem, further establishing its role in the decentralized cloud computing space.
What can you do with Akash Network?
The AKT token is integral to the Akash Network, primarily serving as a utility token for transactions and fees within the decentralized cloud computing marketplace. Users can utilize AKT to pay for cloud services, facilitating access to scalable and cost-effective computing resources. Holders have the option to stake or delegate AKT to help secure the network, potentially earning rewards in return. Additionally, AKT enables participation in governance, allowing holders to vote on proposals that influence the network's development and policies. Developers benefit from Akash Network by leveraging its platform to deploy and manage decentralized applications (dApps) without relying on traditional cloud providers. The ecosystem supports various tools and integrations, including wallets and marketplaces, that facilitate interaction with the network and enhance the utility of AKT. This infrastructure positions Akash Network as a versatile option for users seeking decentralized cloud solutions.
Is Akash Network still active or relevant?
Akash Network remains active and relevant, as evidenced by its ongoing development and community engagement. In September 2023, Akash Network announced a significant upgrade aimed at enhancing its decentralized cloud computing platform. The project continues to focus on expanding its capabilities and improving user experience, which is reflected in frequent updates in their GitHub repository. Akash Network maintains integrations with various blockchain ecosystems, supporting its utility in decentralized applications. The network's governance is active, with recent proposals and votes demonstrating a participatory community. These factors underscore its sustained relevance within the decentralized cloud computing sector.
Who is Akash Network designed for?
Akash Network is designed for developers and businesses seeking decentralized cloud computing solutions. It enables them to deploy and manage applications at a lower cost compared to traditional cloud providers. The platform offers tools and resources such as APIs and SDKs to facilitate seamless integration and development. Secondary participants, including validators and service providers, contribute to the network by engaging in staking and governance activities. These participants help ensure the security and efficiency of the network, creating a robust ecosystem that supports various use cases in decentralized cloud infrastructure.
How is Akash Network secured?
Akash Network uses a Tendermint-based consensus mechanism, which is a Byzantine Fault Tolerant (BFT) protocol, to secure its blockchain. Validators in the network are responsible for confirming transactions and maintaining the integrity of the blockchain. These validators are chosen based on their stake in the network, aligning with a Proof-of-Stake (PoS) model. Validators are incentivized through staking rewards, which are distributed for their role in securing the network and processing transactions. The network employs cryptographic techniques such as Ed25519 for digital signatures, ensuring secure authentication and data integrity. To deter malicious activities, Akash Network incorporates slashing penalties, which reduce the stakes of validators who act against protocol rules. Additional security measures include regular audits and a robust governance process that allows stakeholders to participate in decision-making, enhancing the network’s resilience and reliability.
Has Akash Network faced any controversy or risks?
Akash Network has faced certain risks primarily related to its operational and technical aspects. As a decentralized cloud computing platform, it is exposed to the inherent risks of smart contract vulnerabilities and potential security breaches. In the past, the project has actively worked to mitigate these risks through regular security audits and updates. For instance, the team conducts thorough code reviews and employs external security firms to audit their smart contracts and infrastructure, ensuring any vulnerabilities are promptly addressed. Additionally, like many blockchain projects, Akash Network faces regulatory uncertainties as governments worldwide continue to develop frameworks for decentralized technologies. The project remains vigilant in monitoring regulatory developments and adapting its operations to maintain compliance. Community governance is another area where risks can emerge, as disagreements can arise regarding protocol upgrades or changes. Akash Network addresses these by fostering open communication and involving the community in decision-making processes to ensure consensus-driven outcomes. Overall, Akash Network proactively manages these risks through robust security practices, regulatory awareness, and community engagement to maintain its platform's integrity and relevance.
Akash Network (AKT) FAQ – Key Metrics & Market Insights
Where can I buy Akash Network (AKT)?
Akash Network (AKT) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the AKT/USDT trading pair recorded a 24-hour volume of over $3 079 705.13. Other exchanges include Upbit and Coinbase.
What's the current daily trading volume of Akash Network?
As of the last 24 hours, Akash Network's trading volume stands at $5,541,999.23 , showing a 49.39% decline compared to the previous day. This suggests a short-term reduction in trading activity.
What's Akash Network's price range history?
All-Time High (ATH): $10.35
All-Time Low (ATL): $0.152880
Akash Network is currently trading ~95.11% below its ATH
and has appreciated +126% from its ATL.
What's Akash Network's current market capitalization?
Akash Network's market cap is approximately $148 153 832.00, ranking it #215 globally by market size. This figure is calculated based on its circulating supply of 292 822 564 AKT tokens.
How is Akash Network performing compared to the broader crypto market?
Over the past 7 days, Akash Network has gained 5.93%, outperforming the overall crypto market which posted a 0.37% gain. This indicates strong performance in AKT's price action relative to the broader market momentum.
Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.
All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.
Coinpaprika is not liable for any losses resulting from the use of this information.
Trends Market Overview
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Akash Network Basics
| Website | akash.network |
|---|---|
| Wallet | Coins Mobile App |
| Source code | github.com |
|---|---|
| Asset type | Token |
| Contract Address |
| Explorers (3) | etherscan.io mintscan.io polygonscan.com |
|---|
| Tags |
|
|---|
| akashnw | |
| reddit.com |
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Akash Network Exchanges
Akash Network Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to Akash Network
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 41 | BitTensor TAO | $2 387 336 178 | $248.75 | $134 815 228 | 9,597,491 | |||
| 51 | Near Protocol NEAR | $1 541 428 983 | $1.30 | $88 877 900 | 1,185,165,436 | |||
| 77 | Render RENDER | $865 522 435 | $1.67 | $16 054 198 | 517,690,747 | |||
| 102 | Artificial Superintelligence Alliance FET | $511 385 518 | $0.195936 | $28 875 622 | 2,609,959,126 | |||
| 114 | Virtuals Protocol VIRTUAL | $443 912 829 | $0.684423 | $33 098 720 | 648,594,347 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 54 | Aave AAVE | $1 399 802 030 | $92.87 | $175 155 784 | 15,073,211 | |||
| 206 | OriginTrail TRAC | $163 055 795 | $0.326115 | $1 918 210 | 499,995,033 | |||
| 319 | Blur BLUR | $74 174 970 | $0.026601 | $7 205 222 | 2,788,447,616 | |||
| 353 | Baby Doge Coin 1MBABYDOGE | $63 606 474 | $0.000415 | $912 289 | 153,210,000,000 | |||
| 357 | Arkham ARKM | $62 745 585 | $0.110364 | $6 701 844 | 568,532,082 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 6 | USDC USDC | $77 233 094 833 | $1.000070 | $10 472 678 449 | 77,227,675,650 | |||
| 13 | Wrapped Bitcoin WBTC | $9 991 046 744 | $76 164.04 | $137 333 364 | 131,178 | |||
| 14 | Wrapped Liquid Staked Ether 2.0 WSTETH | $9 896 916 114 | $2 783.37 | $27 741 785 | 3,555,731 | |||
| 18 | WETH WETH | $8 511 990 020 | $2 260.28 | $478 775 353 | 3,765,896 | |||
| 22 | Chainlink LINK | $5 714 071 394 | $9.12 | $183 041 963 | 626,849,970 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 41 | BitTensor TAO | $2 387 336 178 | $248.75 | $134 815 228 | 9,597,491 | |||
| 181 | THETA THETA | $195 324 642 | $0.195325 | $7 379 389 | 1,000,000,000 | |||
| 206 | OriginTrail TRAC | $163 055 795 | $0.326115 | $1 918 210 | 499,995,033 | |||
| 218 | Golem GLM | $141 086 102 | $0.141086 | $2 281 964 | 1,000,000,000 | |||
| 301 | Theta Fuel TFUEL | $82 703 397 | $0.011307 | $1 245 520 | 7,314,640,035 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 77 | Render RENDER | $865 522 435 | $1.67 | $16 054 198 | 517,690,747 | |||
| 102 | Artificial Superintelligence Alliance FET | $511 385 518 | $0.195936 | $28 875 622 | 2,609,959,126 | |||
| 169 | The Graph GRT | $229 994 051 | $0.024087 | $7 933 973 | 9,548,531,509 | |||
| 181 | THETA THETA | $195 324 642 | $0.195325 | $7 379 389 | 1,000,000,000 | |||
| 206 | OriginTrail TRAC | $163 055 795 | $0.326115 | $1 918 210 | 499,995,033 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 77 | Render RENDER | $865 522 435 | $1.67 | $16 054 198 | 517,690,747 | |||
| 87 | Filecoin FIL | $714 099 684 | $0.920469 | $70 082 358 | 775,800,037 | |||
| 139 | BitTorrent BTT | $315 056 177 | $0.000000 | $4 704 389 | 987,037,885,840,675 | |||
| 148 | Zebec Network ZBCN | $287 441 162 | $0.003655 | $8 616 423 | 78,640,430,013 | |||
| 167 | IOTA IOTA | $234 956 893 | $0.054489 | $3 263 451 | 4,311,998,937 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 5 | XRP XRP | $84 349 257 217 | $1.37 | $1 438 142 986 | 61,685,776,928 | |||
| 6 | USDC USDC | $77 233 094 833 | $1.000070 | $10 472 678 449 | 77,227,675,650 | |||
| 7 | Solana SOL | $47 822 625 132 | $83.01 | $1 931 319 773 | 576,088,186 | |||
| 10 | Dogecoin DOGE | $15 881 410 770 | $0.106481 | $2 172 758 229 | 149,147,696,384 | |||
| 16 | Cardano ADA | $9 527 906 540 | $0.246839 | $260 519 685 | 38,599,647,244 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 6 | USDC USDC | $77 233 094 833 | $1.000070 | $10 472 678 449 | 77,227,675,650 | |||
| 9 | Lido Staked Ether STETH | $22 112 960 797 | $2 257.71 | $18 793 798 | 9,794,399 | |||
| 12 | Usds USDS | $11 075 644 200 | $0.999860 | $64 140 158 | 11,077,194,156 | |||
| 13 | Wrapped Bitcoin WBTC | $9 991 046 744 | $76 164.04 | $137 333 364 | 131,178 | |||
| 14 | Wrapped Liquid Staked Ether 2.0 WSTETH | $9 896 916 114 | $2 783.37 | $27 741 785 | 3,555,731 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
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