5 Min. Read

Announcing Akash Mainnet Live and BitMax IEO

by Greg Osuri

Insight

banner image for the post Announcing Akash Mainnet Live and BitMax IEO

The primary listing of AKT is one of the most important projects of BitMax.io in Q3. BitMax.io applauds the Akash team for bringing a DeCloud alternative to the booming Cloud Service Provider (CSP) market. We aim to provide extensive support for AKT spanning from listing, staking, and more extensive infrastructure buildout.

Shane Molidor, Global Head of Business Development at BitMax.io

As more of our work and personal lives move online, demand for throughput and content has driven explosive demand for cloud computing and services, projected to be a $370 billion market by 2022 (IDG 2019).

As open source developers, my cofounder Adam Bozanich and I wanted to create an alternative to the pricing inefficiency, inflexibility, and anti-competitive practices of centralized cloud services providers.

Developers like us, and organizations, have few options beyond the four CSPs (Amazon Web Services, Google Cloud, Microsoft Azure, and Alibaba Cloud) who dominate with 71% market share.

The Journey to Akash DeCloud: Mainnet 1
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We envisioned a world where cloud computing is permissionless, sovereign, and open, where builders of the internet, like us, can have greater freedom, flexibility, and sovereignty to create, becoming truly unstoppable.

When we started Akash Network, we learned from decentralized cloud platforms who failed in the market due to their technical and integration complexity and limited use cases.

We set out to build a decentralized cloud marketplace that would serve broader use cases by easily integrating with existing tech stacks, and providing high-growth organizations with much needed scalability and price advantages.

Leveraging advanced containerization technology and a unique staking model to accelerate adoption, Akash will be a faster, more efficient, and lower cost cloud built for DeFi, decentralized applications and organizations, and high growth companies.

Up to 10x lower cost than the market, our serverless computing platform will be compatible with all cloud providers and all applications that run on the cloud, enabling easier integration and wider adoption in the market.

Akash will unlock 85% of underutilized cloud capacity in 8.4 million data centers, and in individual servers. Anyone will be able to buy and sell cloud compute in our marketplace.

Mainnet 1 Launch and BitMax IEO
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Today, I’m thrilled to share that we are much closer to realizing this vision with the launch of Akash Mainnet 1 and the announcement of our Initial Exchange Offering (IEO) on BitMax.

To properly compensate cloud providers on Akash Network, we will first stabilize the staking set to establish economic value for AKT with today’s launch of Mainnet 1 with 64 validators.

Mainnet 1 is the beginning of Akash DeCloud and network governance. Mainnet 1 enables staking and governance operations including the ability to delegate to validators and vote on governance proposals.

Earlier today, BitMax.io, the industry-leading digital asset trading platform built by Wall Street quant trading veterans, announced the primary listing and auction of the Akash Token (AKT). The auction will begin on October 15th at 10:00am EDT, and the listing will go live on October 16th, at 10:00am EDT.

Check Out BitMax’s Akash Token
Announcement

Accelerating to Akash DeCloud: Mainnet 2
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After this initial phase of network bootstrapping is complete, we’ll begin work on the Akash Economic model, which will incentivize providers to offer lower prices, and incentivizes stakers to participate in the network longer term.

Scheduled to launch in Q4 2020, Mainnet 2 will have upgraded platform functionality that will include: a spot market for cloud compute, trusted providers, a developer friendly deployment definition language (Akash SDL), and take income for AKT holders.

Mainnet 2 will include:

  • Cloud Decentralized Exchange (DEX): To determine which provider runs which app, a decentralized exchange helps match orders to bids.
  • Provider Operations: The ability for data centers to register themselves on the blockchain as providers, as well as the infrastructure to help those providers manage their clusters.
  • Deployment on Akash DeCloud: Users will be able to submit application manifests to the Akash Network that will then be deployed on providers registered on the network.

Mainnet 2 will realize the full functionality of Akash DeCloud.

We couldn’t have achieved these two phenomenal milestones without the support of our community and our team. I’m grateful to the investors, validators, and partners who believed in us, and in our vision for The Unstoppable Cloud.

To the Akashian Dream Team, thank you for making us truly unstoppable!

For Akash and AKT Token news and rewards, join our Telegram!

Join The Unstoppable Cloud

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