Akash Network

Akash Network is a decentralized compute network in which cloud computing resources change hands between buyers and sellers in an open marketplace. Data centers and independent providers rent out idle CPU, GPU and storage capacity through Akash, and developers deploy their applications to these providers as containers. The project has its own blockchain built with the Cosmos SDK, and AKT is the native token of this network.

When a user specifies the resources they need in a definition file, providers bid in a reverse auction and the user chooses a suitable offer. Lease payments are handled on-chain; besides AKT, payment can also be made in supported stablecoins. AKT is staked with the validators that secure the network, used in on-chain governance votes and serves as the unit of account of the network economy.

The AKT price is generally sensitive to the trend in active leases and GPU demand on the network, changes in provider capacity, supply growth from staking rewards and price competition with centralized cloud services. Lzzo.com publishes DefiLlama's US dollar reference price on its Akash Network page; the historical price chart is based on the same dataset.