Things are moving fast and thick in the crypto world. The crypto tokens related to Artificial Intelligence (AI) roared in the market today. The reason being the recent surge in interest and investment in AI projects all over the world. The AI Cryptos sector jumped 20% on average in a day. All major coins like the Graph protocol, Raven coin, ORAI on cosmos all jumped significantly.
While this AI frenzy was happening, a token that has been talked about a lot on Hive that is on the [cosmos chain](cosmos chain) also jumped 50% this morning. Akash Network is one of the alphas that was shared in the Hive community more than a year ago. The project came a long way since the initial reference on Hive.
The recent pump is because the project announced their newest foray into Artificial Intelligence.
What is Akash Network?
Akash is an open network that lets users buy and sell computing resources securely and efficiently. You can think of it as an AirBNB of computing. It is a decentralized peer to peer market for cloud computing and provides you with deployment solutions. The project is open cloud and claims to lower the cost and increase the efficiency of application deployment.
What is the project aiming to achieve?
The project is aiming to change the landscape of cloud computing by providing fast, low cost efficient deployment solutions. Like any other decentralized products, the project aims to move away from the centralized cloud computing business controlled by Amazon, Google and Microsoft. The project is working towards tapping the idle computing resources that are available in the market and make it available for low cost cloud computing.
Why AI?
Integrating AI is interesting. I never knew that the project is getting into the AI business. After the announcement, it all makes sense. The Artificial Intelligence sector is small right now. For the sector to scale, there is a limitation of computing power. Akash cloud computing can provide the much needed power to AI research. That is the reason Akash is now getting into the AI business.
Akash is not the first project to do this though. RNDR is another project that I know is trying to solve the same issue on cloud and AI. The future demand is on web3 decentralized products and the advent of AI. Akash network is trying to tackle both and developed a combined product.
Is AI a buzzword to garner attention?
This could also mean that the project is riding on the AI wave. The team could be trying to capitalize on the next buzzword. Or, it could also mean that the team timed the announcement perfectly. Greg- a co founder- tweeted how the team has been working on Machine Learning and AI since 2020.
AKT is developing and partnering
Akash is continuously partnering with projects and deploying cloud access. Recently, osmosis platform launched their dex on Akash network. I have used the service and it is equally good to whatever centralized service they were using before. Yesterday, carbon browser announced their integration to Akash network.
The community is active and that is always a bullish sign. We at #hive understand the importance of having a dedicated community. Akash is also partnering with Omniflix for their Akash Edu project.
AKT vs SPK network
This would be a nice comparison. I want to compare how decentralized storage and hosting projects are solving the problems.
I am always a big fan of Akash network. I am aware of the infrastructure solution they are proposing.
In addition to that, I am close to the name “Akash” which means sky in ancient sanskrit which is the origin of my native language. This is one of the projects on the COSMOS chain that I wish to have a larger stake of alongside ATOM.
If you want to learn more about Akash please read the following articles written by @forexbrokr and @crypto-guides
Multicloud and the Akash Network
Cosmos [ATOM]