“Cloud computing” is just a fancy term for “using someone else’s computer”
Instead of using your own computer to store data or perform calculations, you can use the internet to connect to a remote computer owned by Amazon, Microsoft, Google, etc…
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These remote computers are often held in massive “data centers”
Data centers are huge buildings (or complexes of buildings) that can each host millions of individual computers (called “servers”)
There are currently 8M+ data centers across the globe
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Cloud computing is one of the greatest advancements of the 21st century
It allows companies to access crucial computing resources without having to spend a bunch of money on hardware, maintenance or security
As such, most businesses have transitioned to “the Cloud”
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🔶 Problem
Unfortunately, the “Cloud” isn’t all it’s cracked up to be
Three players - Amazon AWS, Google Cloud Partners and Microsoft Azure - control over 60% of the market
This creates several problems:
• High costs
• Risks of censorship
• Underutilized resources
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🔹 High Costs
Amazon, Google and Microsoft use their dominant position to extract heavy taxes on their users
@a16z estimates that the top 50 publicly traded software companies spend in excess of $8B for cloud services (~50% of revenue)
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🔹 Risk of Censorship
Control also leads to censorship risks
The major cloud providers can ban anyone they want, at any time and for any reason
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This may be an even bigger threat to #Web3, as over 2/3rds of Ethereum and Solana nodes are hosted by major cloud providers
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🔹 Underutilized Resources
Finally, the Cloud is woefully inefficient
While there are over 8 million data centers in the world, most operate well below capacity
(it is estimated that 30% to 85% of servers are underutilized)
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🔶 Solution
#AKT is solving this problem with a decentralized marketplace for cloud computing
Anyone can be a customer
And anyone with sufficient hardware – including individuals or the 8.4M underutilized data centers – can join and sell their computing power for cash
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Often called the “AirBnB” for cloud computing, $AKT is poised to break the stranglehold that “Big Tech” has on computing resources
The network is cheaper, more reliable, more efficient and – most importantly – highly resistant to censorship
It has a circulating supply of 113.9M and total supply of 388.5M
Below we will cover $AKT ’s:
• Usage
• Initial distribution
• Emissions schedule
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🔹 Token Usage
$AKT is a utility and governance token with several uses
• Fees: Transaction fees and block rewards are denominated in $AKT
• Governance: The token is used for governance
Tenants can also choose to settle leases with $AKT
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🔹 Initial Distribution
Akash distributed 100M tokens in its 2020 launch to the public, investors, team, foundation, ecosystem, testnet and select vendors
These tokens have a 3-year unlock schedule which is shown below:
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🔹 Emissions Schedule
$AKT is an inflationary token with a capped supply of 388.5M tokens
Inflation started at 4.5% per month and gradually decreases over time
An expected emissions schedule for the decade is below
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🔶 Potential Valuation
If #Akash achieves its ultimate goal of capturing 1% of the $1.6 trillion cloud computing industry, that would imply an FDV of $16 billion
That’s a 200x increase over the networks FDV value today!
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🔶 Untapped Potential
$AKT offers numerous benefits to users
When compared to the Cloud, it’s cheaper, more reliable, more flexible, censorship resistant and private
While these are boon to #dapps, there may be an even bigger potential for $AKT that few are discussing…
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Akash is currently building out its GPU network, which could have massive ramifications for the protocol
Not only are GPUs the primary tool for AI (ML and DL), but they are also used in rendering, gaming, IOT, zero knowledge proofs and a variety of industrial applications
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This represents a massive opportunity for $AKT as many of these use cases have potential values in the tens of trillions! (e.g. AI alone is expected to be worth $80T)
A successful entrance into any one of these spaces could increase $AKTs value by orders of magnitude
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If you want to learn more about AKT, I suggest following:
Confession: I used to think @ensdomains was worthless
It’s just a domain name, right?
But after deeply researching the protocol, I found there’s something 99% of people miss
Here's 9 reasons $ENS is one of the most valuable assets of #Web3
(and why it could 100x)
👇
🧵
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Ethereum Name Services allows users to translate blockchain addresses into human-readable names
On the surface, it works like the DNS (we’ll explain this in a second)
It has a MC of $285M, FDV of $1.4B, and its $ENS token trades at $14.09
In 2021, the price hit $85.69
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This thread will cover the following:
• What is the DNS?
• What problem does #ENS solve?
• How does it work?
• Why is it's potential so much more than a simple domain service?
• What are its #tokenomics?
• What’s the potential value of $ENS?