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| 1 Year | 5 Year | 5 Year Annualized | Since IPO | |
|---|---|---|---|---|
| AKT | -76.85% | +35.69% | +6.29% | +40% |
| S&P | +12.65% | +91.73% | +13.89% | +93% |
Akash Network, envisioned by its CEO Greg Osuri, is a novel decentralized cloud computing platform. Distancing itself from traditional cloud providers, it establishes a peer-to-peer marketplace, allowing users to either rent out or lease computing resources. Utilizing containerization technology, Akash facilitates the deployment of a diverse range of applications on its decentralized cloud. The network is primarily powered by its native token, $AKT. This token is multifunctional, enabling users to stake for network validation and subsequent rewards, participate in governance by voting on network changes, and make payments for computational resources. Furthermore, being part of a Proof-of-Stake (PoS) blockchain, staking AKT enhances network security and offers stakers a passive income. Serving as a cornerstone in the Cosmos ecosystem, AKT not only acts as a reserve currency but also incentivizes cost-competitive offerings from providers and long-term staking commitment from users.
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