What is Akash Network?

The purpose of Akash Network is to provide a decentralized alternative to traditional cloud computing services. It aims to solve the problem of high costs and limited scalability associated with traditional cloud computing. The potential use cases and applications of the technology include providing affordable and scalable computing power for fields requiring significant computational resources, such as AI, Machine Learning, and blockchain technology.

Akash Network's technology is based on a decentralized blockchain structure that utilizes a native utility token, AKT, to help secure the network via staking, and to serve as the network’s default reserve currency across the multi-blockchain ecosystem it’s situated in. The network allows for the deployment of any cloud-native application, improving price-performance and scale for decentralized applications and organizations on its network.

Akash Network differentiates itself from competitors by being the first open-source, decentralized cloud platform. Its competitive advantages include allowing existing cloud service providers to sell their excess capacity on the Akash Network marketplace, which can ultimately lower the costs for developers and end users. Akash Network compares favorably to competitors in the market by offering a decentralized alternative to traditional cloud computing services like AWS or GCP.