AMA Recap: CRYPTO MINERS X AKASH NETWORK

Akash Network is the world’s first decentralized and open-source cloud, accelerates deployment, scale, efficiency and price performance for high-growth industries like blockchain and machine learning/AI. Akash Network is a Distributed Peer-to-Peer Marketplace for Cloud Compute. Using Akash Network allows developers to launch applications such as DeFi apps, blogs, games, data visualizations, block explorers, blockchain nodes, and other blockchain network components on a decentralized cloud. Akash Network envisions a world where cloud computing is permissionless, sovereign, and open, where builders of the internet have greater freedom to expand the human experience. Akash Network is a decentralized cloud marketplace where tenants purchase cloud-grade compute in an open market from providers in a permissionless manner. The network is maintained by a network of validators and governed by AKT stakers. The Akash Marketplace is where users lease computing resources from Cloud providers before deploying a Docker container on the Akash Container Platform. The marketplace stores on-chain records of requests, bids, leases, and settlement payments using the Akash Token (AKT). Akash’s blockchain is a Tendermint based application based on the Cosmos SDK.

We hosted an AMA session with Akash Network on 9th August.

Mr. Ramsy was the host from Crypto Miners and Mr. Greg Osuri, CEO of Akash Network was the guest. He shared delightful knowledge and unique features of Akash Network.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to the Crypto Miners #Special AMA session With Akash Network

To help us learn more about Akash Network, We are lucky to be joined By Mr. Greg Osuri — CEO of the Akash Network

Greg Osuri | Akash:
Good morning everyone! 👋 thanks for having me on today.

Ramsy | Crypto Miners:
Hey there 👋

Welcome here Mate

Thanks for bringing Us Akash Network ❤️

Greg Osuri | Akash:
Hey all,

Ramsy | Crypto Miners:
😍 Glad to see you here today

Greg Osuri | Akash:
Likewise

Ramsy | Crypto Miners:
How are you doing today mate?

Hope all are fine.

Greg Osuri | Akash:
doing great! how are you?

just got back from a good break

Ramsy | Crypto Miners:
As usual doing well 🤝

So I’m pretty sure that our Community is very much excited to learn more about Akash Network ✌️

So let’s get started if you’re ready!!

Greg Osuri | Akash:
LFG! 🚀

Ramsy | Crypto Miners:
First of all Please make a concise and brief introduction about Akash Network.
How it is playing its role in Cloud Computing?

Greg Osuri | Akash:
Akash is the world’s first decentralized cloud computing market. In simple terms, its is the only open spot computing marketing in the world. Cloud is the fabric of modern society and is getting increasingly ologopolized by a few companies, Akash is the answer.

Ramsy | Crypto Miners:
Thanks Greg for this well start about Akash 👍

Now Let’s see our second question from this segment

2. What are the features of Akash Network that makes it superior and special as compared to its competitors? How it is different from other decentralized platforms?

Greg Osuri | Akash:
Cost, Convenience, and Capabilities.

- Cost: Akash is 97% cheaper than AWS.
- Convenience: You can run any container workload on Akash or anything you can run on AWS.
- Capabilities: Akash provides advanced capabilities like Persistent storage, IP address leasing, etc., along with a great user experience with SDL.

Compared to other decentralized options, Akash is highly usable, with significant adoption to show for.

Ramsy | Crypto Miners:
3. How is deployment done in Akash Network? What features and benefits can developers enjoy in Akash ecosystem?

Greg Osuri | Akash:

Deployment process is super simple. A tenant (user) packages the application in a container. Specifies how many resources they want and what price they’re willing to pay. Post a buy order on the blockchain to which providers can offer the compute bid on. A lease gets generated between the provider and Tenant — they enter a relationship in a peer-to-peer manner.

The Tenant and the provider enjoy a cost-optimized cloud in a peer-to-peer and open manner. This was not possible before Akash.

Ramsy | Crypto Miners:
That’s cool 👌

4. Now tell us about the native token $AKT, what are its usecases and utilities in Akash Network? Also provide us with the tokenomics

Greg Osuri | Akash:
Three Key Utilities of $AKT:
- Value Exchange: AKT provides a default mechanism to store and exchange value, and acts as a reserve currency in Cosmos’ multi-currency and multi-chain ecosystem.
- Incentivization: AKT is used to incentivize providers to offer lower prices, and incentivizes stakers to participate in the network longer term by staking.
- Governance: AKT token holders can vote on network upgrades.

The token economics are layed out in this whitepaper https://siasky.net/fADcwjl0riowyN8UO-DS23i8DyN66bTdPtA9rkgTZQfG5g

Ramsy | Crypto Miners:
5. Lastly, what important updates and developments we’ll get in coming months and years in Akash Network ecosystem?

Greg Osuri | Akash:
Next big thing coming up is IP leases; this allows for all significant Nodes (like Solana) to run on Akash friction-free. Soon after we’ll have GPUs!

our updated roadmap is available at https://akash.network/roadmap

Ramsy | Crypto Miners:
Thanks Greg for this well detailed introduction about Akash Network:)

And that’s the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you’re ready for that!!

Greg Osuri | Akash:
sure

lets fight the bots

Ramsy | Crypto Miners:
😃

Segment 2️⃣: Twitter Questions

1)How will Akash Network solve the scaling problem? And how will it overcome the threat of centralization?
How easy is it to use Akash Network in an existing infrastructure?

Greg Osuri | Akash:
Akash right now has over 50 providers and was hosting over 11 TB of memory — it has already proved it can be scaled is a decentralized manner — proof is in the pudding

Ramsy | Crypto Miners:
2)I read that Akash Network is a decentralized cloud marketplace, Infrastructure that powers Web3. How do we know that Akash Network is set to be the next generation cloud computing platform tailored for Web3 practically? Does it’s features defines that?

Greg Osuri | Akash:
Akash is non-custodial, open, and decentralized. The experience and values align well with Web3 users. The ecosystem is predominantly web3 protocols for this reason.

Ramsy | Crypto Miners:
3)Akash is governed by $AKT stakers. So can you tell us, is staking the only way to to be able to participate in Akash governance? Aside from governance and voting rights, what benefit of holding does $AKT holders receive?

Greg Osuri | Akash:
Besides governance, there is a proposal of Take Income (a percent of hosting fee) going to Token stakers as value accrual.

Ramsy | Crypto Miners:
Sounds good for holders 👌

4)”Deploy your application in minutes without having to set up, configure, or manage servers” is one aspect of Akash Network that caught my attention. Will you assist the programmers? What advantages does Akash offer developers to help them release their apps rapidly and cheaply?

Greg Osuri | Akash:
Deploying an app on Akash is easier and cheaper than Amazon. Assitance is available by the community in our discord. Not sure what better incentive are there for devs.

Ramsy | Crypto Miners:
Let’s hear our last question from Twitter

5)According to your website, Akash Net is a platform for hosting and managing deployments that includes cloud management services that use Kubernetes to run workloads. So, how much does it cost to have a hosting there? Is it possible to manage deployments for free?

Greg Osuri | Akash:
Noting is free. Someone always pays 🙂 But its almos free, check out price comparison here https://www.akashlytics.com/price-compare

Ramsy | Crypto Miners:
Akash is always better 👌

That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall We Go Greg?

Greg Osuri | Akash:
sure

Ramsy | Crypto Miners:
lets go,

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) CHUKKY:
Could you please give us more details concerning the AKT Inflation Reduction Information?

Greg Osuri | Akash:
AKT is fixed supply (at 389m) with 100m pre-mined initially and tokens released every block at an initial inflation rate of 54% which is now 13.73%. Inflation comes down slowly every block.

2) 💞 Slow Action 💞:
Companies and individuals have resorted to centralized Cloud service like GCP, AWS,… How do you plan on educating the user on the benefits of decentralized Cloud service over these large Centralized Cloud services, which would in turn onboard more users for Akash Network?

Greg Osuri | Akash:
We start off with great user experience and attractive cost model — our education is improving quite rapidly

*This segment ends here*

Greg Osuri | Akash:
cool, think we’re good for now

Ramsy | Crypto Miners:
Thankyou so much Greg For your valuable answers and information about Akash Network

It Was Pleasure Hosting An Ama With You

Time To Conclude Our AMA Section

Lastly Is there anything else you would like to share or you want us to know?

Greg Osuri | Akash:
This was fun! Thanks so much for having me

Ramsy | Crypto Miners:
We Wish all the very best for Akash Network And The Entire team behind the project:)

Community, if you would like to learn more about Akash, here are some useful links for you:

Website: http://akash.network/
Twitter: http://twitter.com/akashnet_
Telegram: http://t.me/akashnw
Discord: https://discord.com/invite/akash
LinkedIn: https://www.linkedin.com/company/akash-network/
Instagram: https://www.instagram.com/akash.network/
Reddit: https://www.reddit.com/r/akashnetwork/
YouTube: https://www.youtube.com/akashnetwork/
Medium: Akash Network