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What is Akash Network coin (AKT) and how does it work?

by Financial Economy

Akash Network is a trading platform for cloud computing resources. The developers designed Akash Network with the aim of reducing expenses. Thus, while expenses and prices were reduced for consumers in the platform, revenues were increased for providers. AKT, or Akash token, is the cryptocurrency used on the platform. Detailed information about what is Akash Network coin (AKT), how does it work, how much it costs, how to buy, etc. is in the continuation of the content. Information about Ontology Gas coin (ONG) you can browse here.

What is Akash Network coin (AKT) and how does it work?

Akash Network is notable for being the first serverless supercloud application using blockchain. The Akash network creates a transparent and decentralized cloud computing space and connects users. Akash Network works with a system based on incentives to provide economic security.

Users participating in the ecosystem can be in different roles. “Customers” on the Akash network are those who want to buy processing power or storage space. For customers, the Akash platform combines many providers to create a single super cloud computing space. Users who want to rent cloud computing eliminate the need for a different platform.

Initially, it started with a supply of 100 million AKT tokens. Akash developers set the maximum supply of AKT at 389 million. AKT supply will be released over time according to demand. Using the Akash token, users can buy 10x cheaper processing power than the market price. In addition, users who want to make money on cloud computing can earn up to 4 times more.

Where to buy Akash Network coins? How much is the AKT token price?

Akash coin can be bought from the crypto exchanges where it is listed, but it is necessary to make sure that the exchange is “trusted”. As of October 13, 2021, the price of 1 AKT token is around $2.89.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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