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Imagine a place where you can exchange computer abilities in a market free from single-group control. Akash Network, known in the marketplace as AKT, offers cloud computing through blockchain technology. It’s designed for secure and transparent trading of cloud capabilities. This network enables individuals to share their spare computer talents, like GPU capacity. Akash Network focuses on supporting AI practitioners and researchers who manage extensive data for their learning algorithms. Essentially, Akash aims to connect those needing substantial GPU resources with those possessing excess GPU capacity.
Founded by Greg and Adam, Akash Network’s whitepaper was released in December 2017, and its blockchain commenced in 2020. Fundamentally, Akash Network is an open-source cloud marketplace facilitating the purchase and sale of computer skills. Akash operates as a public, decentralized service employing a “reverse auction” method to ensure competitively low prices. But what’s this reverse auction about? It’s not the highest bid that wins, but who offers to complete the task for less. Suppose you allocate $100 for GPU power.
In a reverse auction, you declare your budget and requirements, like the needed processing strength. GPU providers then compete to offer their services at a lower cost. One might propose $90, another $80, until the lowest feasible bid is reached. This ensures you benefit from the most affordable rate, aligning with Akash’s mission to prioritize developers and users. However, this raises a question.
Akash Network is powered by the Cosmos SDK, a toolkit for crafting blockchains, making Akash a Proof-of-Stake blockchain. It utilizes Tendermint for transaction verification and Byzantine Fault Tolerance (BFT) for ensuring accuracy. Let’s break these concepts down for clarity.
The Cosmos Software Development Kit (SDK) aids developers in creating custom blockchains. It’s adaptable, allowing the combination of various components to suit specific needs. At the core of the network is the Tendermint consensus algorithm. This Proof-of-Stake system ensures both security and speed.
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