Tory Green Profile picture
Jan 9 38 tweets 16 min read
@akashnet_ may be one of the biggest hidden gems in #Web3 💎

Unfortunately, fewer than 1% of people understand why

Here’s the unexpected reason $AKT could 100x

(hint: it all has to do with AI…)



Akash is a decentralized marketplace for cloud computing (we’ll explain this in a second)

It has a MC of $24M, FDV of $80M, and its $AKT token trades at $0.21

In 2021, the price hit $8.08

This thread will cover the following:

• What is the Cloud?

• What problem does #Akash solve?

• How does it work?

• Why is its potential goes beyond the Cloud

• What are its #tokenomics?

• What’s the potential value of $AKT?

🔶 What is the Cloud?

“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…

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

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”

🔶 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

🔹 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)

🔹 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

This may be an even bigger threat to #Web3, as over 2/3rds of Ethereum and Solana nodes are hosted by major cloud providers

🔹 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)

🔶 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

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

Akash can be used for a variety of services such as:

• Middleware

• Validators

#DAO websites

• Gaming

• Mining

🔶 How does Akash Work?

#Akash operates a two-sided marketplace with two key stakeholders:

• Tenants: Customers seeking computing resources

• Providers: Data centers (or any person with compute & storage capacity) that can provide computing resources

To utilize the network, customers specify their needs and submit a “request for bids” to the network

Providers receive these requests and respond with a bid

The provider with the lowest bid wins the contract

🔶 Market

The global market for cloud compute is expected to rise from $380 billion in 2021 to $1.6 trillion in 2030

🔶 Competition

Centralized storage and compute is currently dominated by the “Big 4” cloud providers – Amazon AWS, Google Cloud, Microsoft Azure and Alibaba

$AKT offers several benefits compared to traditional cloud providers. It is:

• Cheaper

• Censorship resistant

• More reliable

• Private

• Flexible

🔹 Cheaper

#AKT is significantly cheaper than AWS, Google Cloud Platform (GCP), or Microsoft's Azure, with a cost savings of up to 80-90%.

🔹 Censorship Resistant

Unlike AWS, who can “deplatform” apps that violate their terms of service, Akash can’t censor or ban any user for any reason

🔹 More reliable

Decentralized networks are more resilient to crashes and outages

If one data center goes down, Akash can simply switch to another

🔹 Privacy

Tenants can choose to remain anonymous. This is important because if a deployment is hacked, critical information will be protected

Customers also aren’t forced to use a credit card, which is ideal for DAOs

🔹 Flexible

#Akash customers can select data centers based on their needs

For instance, a gaming dapp may want to use a cheaper, but less secure provider, while a DeFi protocol may opt for higher security

🔶 Traction

$AKT currently has over 40 active providers representing 409 leases

This number has grown 288% in the last 18 months (or 20% per quarter)

Notable projects powered by #AKT include Anonstake, Blockless, Praetor, HNS Search, Chia Network, Cosmos Directory, Third Web and Juno Network

🔶 Team

Akash is a part of Overclock Labs, which is headquarted in San Francisco and lists 91 employees on LinkedIn

Notable team members include CEO @gregosuri, CTO @abozanich, COO @boz_menzalji and CFO @LeChenghiskhan

🔶 Tokenomics

$AKT is the native token of Akash

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

🔹 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

🔹 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:

🔹 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

🔶 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!

🔶 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…

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

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

If you want to learn more about AKT, I suggest following:


Please tag anyone I missed!

Note: This is obviously not financial or investment advice nor a recommendation to purchase AKT

It’s just a few thoughts on how things could potentially play out

Like with any forecast, it’s a guess at best, and just as many things could go wrong and drive the price to $0
I hope you've found this thread helpful.

Follow me @MTorygreen for more fundamental analysis on Web3 protocols.

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More from @MTorygreen

Dec 23, 2022
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)



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

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?
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@graphprotocol is one of the most important pillars of the #Web3 ecosystem

It serves a vital role for DeFi, NFTs & L1s, but 99% of people don’t understand how it works

Here’s an explanation that a 5-year-old can understand

(and why many investors are watching $GRT)



The Graph Network is a decentralized querying tool for #blockchains

(I’ll explain what this means in a second)

It's powered by the $GRT token which trades at $0.06 (for a FDV of $578M)

This thread will explain:

• What is blockchain querying

• Why current methods for searching blockchains are inadequate

• How #GRT solves that problem

• How it works

• The #tokenomics of $GRT

• Why demand for the $GRT token may skyrocket in the next bull market
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Dec 21, 2022
@ethereum has a better chance of becoming money than #Bitcoin

This is hard for most people to grasp b/c they lack the technical skills to understand what makes #ETH so unique

Here's a simple explanation of the 5 reasons $ETH will become the dominant #cryptocurrency



I’ve spent most of my career in finance & economics, so I've long appreciated the potential of $BTC & $ETH as decentralized money

But I didn’t understand “tech”, so I took two 400-hour coding bootcamps

That’s when the 💡 went off and I started to see ETH in a new way...

$ETH has the potential to overtake $BTC and exceed $150K per coin for one simple reason:

👉 It’s going to be the native currency of the Internet

In other words, there’s a strong chance that it will be used as the medium of exchange for ALL online transactions
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Dec 19, 2022
@solana gets a lot of FUD – people say its centralized, tainted by SBF, etc…

I think that’s bullshit

The platform continues to build and it has one competitive advantage that NO ONE ELSE CAN MATCH

Here's why $SOL has the potential to 100x-1,000x Image

Solana is one of the largest #Layer1 s by market cap, TVL in #DeFi and #NFT sales (we will explain all these concepts in a bit)

It has a MC of $4.6BM, FDV of $6.7B, and its $SOL coin trades at $12.45

In 2021, the coin price hit $260.06

This thread will cover the following:

• What is a Layer1?

• What problem does #Solana solve?

• How does it work?

• Who are the key players in the ecosystem?

• What are its #tokenomics?

• What’s the potential value of #SOL?
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Dec 15, 2022
How big is the market for L1s like $ETH, $SOL, $AVAX, $ATOM, $ADA, $NEAR, $TRON, etc…?

While predicting the future is difficult, I believe it’s at least $35 trillion

This means that many L1s still have the potential for 100x to 1,000x returns

Here’s my rationale…



The following thread is relatively short (15 tweets) but it will cover a lot:

• What are Layer 1s?

• What is the total addressable market of #L1 coins?

• What is the serviceable obtainable market for L1 coins?

• What does this imply for returns?

🔶 What are Layer 1s?

Layer 1s – also known as “smart contract platforms” - are the computer networks that run #Web3

The most popular L1s by market cap are $ETH, $BNB, $ADA, $MATIC, $DOT, $TRX, $SOL, $AVAX, $ATOM, $XLM, $ALGO and $NEAR
Read 16 tweets
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Will #ChatGPT replace humans?

Everyone’s got an opinion, but 99% of people don’t understand how it works

I wanted to learn so I took a 400-hour AI bootcamp

Here’s an explanation of how GPT-3 works that a 5-year-old can understand

Read it and make up your own mind



The following thread will answer five questions using little to no technical jargon:

• What is #AI?

• What are the benefits of AI?

• How does AI work? (in particular, GPT-3 and #ChatGPT)

• What are its Limitations?

• What’s the Long-Term Potential of AI?

🔶 What is AI?

Virtually all “artificial intelligence” today is machine and / or deep learning

Machine and deep learning are advanced forms of pattern recognition

So when you hear the term “AI”, you should mentally substitute that to “advanced pattern recognition”
Read 42 tweets

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