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Akash is the world's first and only Super cloud for serverless computing, enabling anyone with a computer to become a cloud provider by offering their unused compute cycles in a safe and frictionless marketplace. Akash is a layer 1 protocol built using Cosmos SDK that uses Proof-of-Stake consensus to secure its network of decentralized validators.
Validators- Validators are responsible for committing new blocks to the blockchain through voting. There are 64 validators required to maintain a high standard of automated signing infrastructure. They charge delegators commission fees in AKT
Delegator- Delegators are holders of the AKT and use some or all of their tokens to secure the Akash chain.
The Akash Marketplace is where users lease computing resources from Cloud providers before deploying a Docker container on the Akash Container Platform.
In containers, Users can run any cloud-native app without rewriting the entire internet in a new propriety language and there is no vendor lock-in to prevent you from switching Cloud providers.
Cost to use Akash-
The cost of using Akash is about one-third the cost of Amazon AWS, Google Cloud Platform (GCP), and Microsoft Azure.
Akash Network Token- It performs three main functions.
Resolve- Each proposal is weighed by the proposer's voting power, which is the total tokens they staked and the tokens bonded to them.
Reward-
Stakers are rewarded proportional to the number of tokens staked, the length of lockup time, and the overall tokens staked in the system.
Reserve- Fees on Akash can be settled using a multitude of currencies along with AKT.
AKTUSD is trading higher for the second consecutive day and surged nearly 25% from a low of 2.17%. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $2.94 and is currently trading around $2.85.
The immediate resistance stands at around $2.80. Any breach above confirms a minor pullback. A jump to $3.25/$3.60/$4 is possible. A surge past $5 will take to $6.5.
Indicators ( Daily chart)
CCI(50)- Bullish
Directional movement index - Bullish
It is good to buy on dips around $2.40 with SL around $1.95 for TP of $4
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