Akash Network
Crypto Overview
Project Overview
Akash Network is a decentralized cloud computing marketplace that enables users to lease computing resources from datacenter providers. The AKT token serves as the native currency for compute settlement between users and providers on the network.
Intended Utility
The primary purpose of AKT is to facilitate payments for cloud computing services on the Akash Network. It also serves as a staking token for network security and governance. Providers must stake AKT as collateral to offer services, while users spend AKT to purchase computing resources.
Actual Usage and Adoption
The network has demonstrated genuine utility with active deployments and growing adoption. As of 2024, Akash Network has over 50 active providers offering computing resources, with thousands of active deployments. The network has partnerships with notable projects in the blockchain space and continues to show steady development activity.
Token Distribution and Governance
The initial token distribution allocated 38.1% to the foundation, 23.8% to seed investors, and 38.1% to the community. The foundation's tokens are subject to a 6-year vesting schedule. The project maintains transparent governance through its DAO structure, where token holders can participate in decision-making.
Technical Implementation
The network operates on a proof-of-stake consensus mechanism, where validators stake AKT to secure the network. The staking mechanism is compliant with Islamic principles as it represents actual work and network security rather than interest-bearing loans.
Crypto Impact
To assign a comfort level investing in Akash Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Akash Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.