BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the primary listing and auction of the Akash Token (AKT). The auction will begin on October 15th at 9:00 a.m. EDT, and the listing will go live on October 16th, at 10:00 a.m. EDT. Deposit will be available 36 hours in advance at 10:00 p.m. EDT, October 14th.
Akash Network is the world’s first decentralized cloud computing marketplace. Functioning as the DeCloud for DeFi, Akash accelerates scale and price performance for high-growth industries, including DeFi, decentralized organizations and applications, as well as machine learning/AI. Leveraging 85% of underutilized cloud capacity in 8.4 million data centers, Akash will enable anyone to buy and sell cloud compute with efficiency, flexibility, and security.
The Akash Token (AKT) is a native utility token and the core of Akash’s sovereign proof-of-stake chain. Akash Token Economics uses AKT to solve volatility while ensuring its public blockchain’s economic security. The platform leverages AKT to govern, secure the blockchain, and provide a default mechanism to store and exchange value. The token also acts as the reserve currency in Akash’s multi-currency settlement ecosystem, enabled by Cosmos’s Inter-Blockchain Communications (IBC) protocol. The company recently partnered with the Interchain Foundation to accelerate development of the IBC interoperability protocol and bring it to market. Akash Network’s integral contribution to the development of IBC will enable the company to adopt and benefit from interchain technologies faster than any other company.
Akash is developing a faster, more efficient, and lower cost cloud for DeFi with its advanced containerization technology and a unique staking model. As global demand for throughput and content has increased, he company sees enormous potential in the expanding cloud computing industry, projected to be a $370 billion market by 2022, currently dominated by an oligarchy of four cloud service providers (CSP), including Amazon Web Services, Google Cloud, Microsoft Azure, and Alibaba Cloud.
To provide the market with more flexible and efficient services, and significant cost savings, Akash offers companies and developers a new alternative at a price up to 10x lower than the market. As Akash Network supports generic cloud compute, its serverless computing platform is compatible with all cloud providers and all applications that run on the cloud, easily integrating with a company’s existing technology stack.
On September 25th, Akash launched its Mainnet 1 with 64 validators. Akash Mainnet 1 focuses on network stability, and enables staking and governance operations, including the ability to delegate to validators and vote on governance proposals. In October, the platform will open its Phase 3 Testnet to serve as the launchpad for Mainnet 2 with one million AKTs in rewards. Mainnet 2 will go live in Q4 2020.
“The primary listing of AKT is one of the most important projects of BitMax.io in Q3,” says Shane Molidor, Global Head of Business Development at BitMax.io. “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.”
Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from innovative volatility products to margin trading, derivatives trading, staking products, and other investment solutions.
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About Akash Network
Akash Network is the world’s first decentralized cloud computing marketplace, enabling any data center and anyone with a computer to become a cloud provider by offering their unused compute cycles in a safe and frictionless marketplace. A faster, more efficient, and lower cost cloud compatible with all cloud providers and all applications that run on the cloud, Akash DeCloud will greatly accelerate scale and price performance for DeFi, decentralized organizations, and high-growth industries including machine learning/AI/deep learning.
The company was founded by Greg Osuri and Adam Bozanich, who are globally recognized open source developers and among the top 20 programmers worldwide for authoring open-source libraries adopted by organizations like Ubuntu, HashiCorp, and Kubernetes.
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Martin has been following the crypto space since 2013. He is a passionate advocate for blockchain technology, and believes that it will have a profound impact on how people live their lives. In addition to being an avid blogger, Martin also enjoys writing about developments in the industry as well as providing useful guides to help those who are new to this exciting frontier of finance and technology.