What is AKT Coin? Akash Network Predictions

Akash Network stands out as a decentralized cloud computing platform. Built using the Cosmos SDK and implemented on the Cosmos blockchain, Akash simplifies the deployment of cloud-based applications and provides superiority in terms of price-performance and scalability over centralized alternatives. AKT is the native token of Akash Network and is used for the governance and security of the network. As Kriptokoin.com, in this article, we will discuss how Akash Network works, what is AKT Coin and its price claims.

Working Principle of Akash Network

Akash Network offers a decentralized cloud computing marketplace and provides more efficient and cost-effective cloud services by redistributing unused process power to customers. This system offers financial incentives for both providers and customers. Customers benefit from lower costs while providers rent their unused resources to generate revenue.

The operation of the network occurs through the process of virtualization of resources. Computer resources are divided into containerized applications, and these containers are rented over the network to customers who purchase cloud services. Providers rent these resources by placing the lowest bid on customers’ demands. All processes take place on the Akash blockchain, making the process transparent and secure.

What is AKT Coin?

AKT is the native token of Akash Network and is used to secure the network, store assets and serve as a medium of exchange. AKT encourages users’ participation in the network and facilitates processes on the network. Additionally, AKT tokens provide voting rights in the governance of the network and contribute to the security of the network through staking by users.

The value of AKT depends on the use and adoption of the network. All rental processes on the network are carried out with AKT. This is an important factor that increases the cost of AKT. AKT is also used as a unit of measurement in payments made in alternative currencies, which expands the usage area of ​​AKT.

Founders and History of Akash Network

Akash Network was founded by Overclock Labs in March 2018. The network’s CEO Greg Osuri and CTO Adam Bozanich are the key figures behind Akash. Osuri previously founded AngelHack and led protocol development at Overclock Labs, while Bozanich has led software development at companies such as Symantec, One Kings Lane, and Marketron.

Akash Network is built on Cosmos and leverages its interoperability and scalability features. The network allows users to rent process capacity or purchase cloud services from others. With its decentralized structure, Akash offers a more flexible, reliable and cost-effective model compared to classical cloud services.

AKT Coin Price Prediction

AKT Coin price has decreased by approximately 5 percent in the last 24 hours and is currently trading at $2.94. Although the AKT price has seen a decrease of approximately 45 percent in the last 30 days, when looking at the last year period, the price seems to have experienced an increase of approximately 387 percent. Experts predict that the value of AKT will increase with the increased adoption and use of Akash Network. It is assumed that the price of AKT Coin may rise to $3.50 in the short term.

In the long term, it is predicted that AKT Coin may exceed $5 as Akash Network gains more ground in the cloud computing market. The value of AKT Coin may fluctuate depending on the usage intensity of the network and the number of users. However, the decentralized and cost-effective solutions offered by Akash Network may contribute to AKT Coin gaining value in the long term. In this context, AKT Coin is seen as a promising option for investors.