What are the technical characteristics of Akash Network?

Akash Network utilizes a distributed protocol to maintain workloads independently and operates blockchain nodes and validators.

What are the risks associated with transferring Akash Network (AKT)?

Digital asset prices can be volatile and users should verify contract addresses and custody methods before transferring.

How can I verify the acquisition of Akash Network (AKT)?

Verify the asset name, network, and contract details before transferring assets.

What are the official resources for Akash Network?

You can find official resources on the Akash Network website at https://akash.network.

Akash Network (AKT)

Rank #142

Market snapshot

Price: $0.506322
Market cap: $150.4M
24h volume: $4.4M
Circulating supply: 296,963,794.6327
Total supply: 296,963,794.6327
Max supply: 388,539,008

What is Akash Network?

Akash Network is a cryptocurrency designed to facilitate decentralized cloud computing. It enables users to rent out their unused computing resources, allowing for a more efficient and cost-effective alternative to traditional cloud services. The network operates on a blockchain.

Key information

Symbol: AKT
CMC rank: #142
Network / platforms: Osmosis
Categories: N/A
Date added: Oct 16, 2020

Contract address

Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.

Osmosis
ibc/1480B8FD20AD5FCAE81EA87584D269547DD4D436843C1D20F15E00EB64743EF4

Key characteristics

Akash Network features a distributed protocol that maintains workloads independently, enhancing resilience against system-wide failures. Its architecture allows for the operation of blockchain nodes and validators, contributing to the overall functionality of the network. CoinMarketCap categorizes Akash Network under various tags, including made-in-america and distributed-computing.

Documented uses

One of the primary use cases of Akash Network is that users pay for the silicon rather than the provider's overhead, making it a cost-effective solution for cloud computing needs.

Official resources

Risks

Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.

Transfer and custody notes

Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.

FAQ

What is Akash Network?: Akash Network (AKT) is a cryptocurrency focused on decentralized cloud computing services.
What are the technical characteristics of Akash Network?: Akash Network utilizes a distributed protocol to maintain workloads independently and operates blockchain nodes and validators.
What are the risks associated with transferring Akash Network (AKT)?: Digital asset prices can be volatile and users should verify contract addresses and custody methods before transferring.
How can I verify the acquisition of Akash Network (AKT)?: Verify the asset name, network, and contract details before transferring assets.
What are the official resources for Akash Network?: You can find official resources on the Akash Network website at https://akash.network.
What are the documented use cases of Akash Network?: Users pay for the silicon rather than the provider's overhead, making it a cost-effective solution for cloud computing.

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