AKTUSD
Akash Network / United States dollar
crypto Composite

Akash Network is a decentralized peer-to-peer marketplace for cloud compute and provides a fast, efficient, and low-cost application deployment solution. Akash Network's native token (AKT), is used as a default mechanism to store and exchange value, govern and secure the blockchain while incentivizing its participants through rewards. Akash network is a decentralized version of the cloud hosting model, Cloud hosting is dominated by four big centralized corporations, about 85% of Akash Networks' cloud is leveraged from data centers that exist and are underutilized, this enables Akash Network to provide a cheaper and quicker alternative to developers. By allowing existing cloud service providers to compete to sell their excess capacity on the Akash Marketplace, will lower the cost of cloud computing for developers and thereby lower the cost for end-users of the developers' application too. Akash Network Deployment Marketplace The Akash marketplace is a decentralized marketplace on the Akash Blockchain, which is built using the Cosmos Software development kit (SDK) Tendermint. The Akash blockchain records all data on-chain from the Akash Marketplace. The two main participants of the Akash Marketplace, Tenants and Providers. Tenants deploy container applications, while Providers host said applications. The marketplace uses Deployments, deployment provides a full description of resources a tenant is requesting to host their application on the Network, deployments are submitted to the Akash blockchain, storing the request on-chain, and immediately generating an order on the Akash Marketplace. The providers can bid on the deployment, and the tenants can choose the bid that suits their needs most, which will then generate a lease contract. After the creation of the lease, tenants will then submit a manifest to the provider, outlining specific workloads, and the provider will use the manifest to execute the workload, and the application will go live. Leases can be closed by either Tenants or Providers. Akash Network marketplace uses an escrow system to ensure trust, a tenant must deposit a sum for their request, and the provider will receive payments from the deposit.