Zach Horn

Zach Horn | Jul 29, 2022| 5 min read

Akash Weekly with Greg Osuri: July 27, 2022

Akash Weekly with Greg Osuri: July 27, 2022 cover

Akash Weekly is our weekly community call hosted on Twitter Spaces. Each week, we cover the latest news and updates from Akash Network with our CEO, Greg Osuri.

Follow Akash Network (@akashnet_) on Twitter to get notifications for all future Akash Weekly events. We’re live every Wednesday morning, and everyone is welcome. We hope to see you next week!

On this Akash Weekly: 

  • Greg Osuri - Co-Founder & CEO of Overclock Labs & Host of Akash Weekly

  • Anil Murty - Head of Product, Overclock Labs

This week, we looked back on the progress Akash has made in July, took a look into our progress with IP Leases, and much more.

Akash Ecosystem Updates

Akash Excels for Incentivized Testnet Participation

Saving money is one of the core utilities of AKT. We have seen users of Akash Network apply our infrastructure to participate in incentivized testnets, which lowers their costs and results in higher earnings.

Akash user Pavlo Dereniuk (@PDereniuk) participated in an incentivized testnet and was able to deploy a node for only $4 using Akash. 

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Akash is Recording Strong Growth Metrics

Akash recorded its highest-ever resource usage in July, peaking at 11 terabytes of actively leased memory. Providers on Akash Network maintain a 29% utilization rate, which strongly indicates that Akash has a healthy product-market fit without any external incentives.

Akash registered the highest Inter-Blockchain Communication (IBC) volume of any non-financial Web3 application.

Interchain Accounts Are Coming Soon

Interchain accounts on Akash are code-ready on our GitHub and currently in review. The addition of interchain accounts will allow for interoperability between other chains like Juno and Akash Network. Once interchain accounts are live, Juno users will be able to deploy onto Akash using a Juno account – instead of an Akash account. This opens up the ecosystem and fundamentally changes the way that users interact with networks. Interchain accounts will also open composability use-cases between different application chains within the IBC ecosystem.

If you use Akash Network for your project or protocol, please consider displaying the Akash logo and sharing on social using #PoweredByAkash.

Work with Akash

We are continuing to expand the Akash team. In July, we welcomed eight new hires with two roles remaining to be filled – continuing toward the goal of expanding our team by 20%.

Akash is still searching for two priority roles. If you, or someone you know, are interested in making the jump into web3 – please feel free to take a look at the open roles below:

Looking Forward

GPU Marketplace

Messari’s research article highlights Akash as a viable option for Ethereum miners to rent their GPUs in the future, post-merge. Akash aims to have that functionality ready by the time The Merge happens.

Once unlocked, GPU support on Akash will not only open the door for the next generation of Web3 games but will unlock unprecedented Artificial Intelligence (AI) and Machine Learning (ML) capabilities. This means that everyone will be able to run even more complex workloads without the fear of being de-platformed or censored.

As the world becomes digitized, we will see GPUs integrated into more aspects of our lives. Not just in computers but phones, gaming consoles, and yes, even Teslas. As Ethereum prepares to complete The Merge – more GPUs will hit the market as demand decreases post-merge.

IP Leases Functionality & Release Progress

IP leases allow Akash tenants to request static and publicly recognizable IP addresses for the applications and services they deploy.

Providers typically control a pool of IP addresses, of which many are unused. Akash’s IP Lease service allows providers to lease these unused IP addresses to users, which benefits the user’s application and allows the provider to monetize their unused IP addresses.

The addition of IP leases gives users on Akash Network access to a service typically reserved for users of large cloud providers.

IP Leases on Akash are currently live and deployed on a testnet, and we are working to get this service live as soon as possible.

Q&A Highlights

Q: Do you plan to implement a system where people can buy AKT with their credit card for deployments so that there is no need to go to an exchange?

"Yes, we plan to offer credit card payments at some point in the future. We are investigating options and defining the work that would allow for the leasing of resources directly via credit cards, instead of having to purchase AKT."

Anil Murty, Head of Product, Overclock Labs (Creator of Akash Network)

Q: What is the difference between Akash Network, Filecoin, and Arweave?

These are very different services, although the offerings may sound similar.

Filecoin and Arweave offer data storage, which means that a user can store and retrieve static data without the expectation of running an application.

Akash Network is a cloud computing service. This means that Akash allows developers to run applications in the cloud. As with any cloud computing service, the expectation is that once a user is finished running the application – the storage goes away. Even with persistent storage, data is maintained across different restarts but not permanently stored.

Cloud computing services like Akash Network and storage solutions like Filecoin and Arweave are complimentary. A developer would need to use both service types to create a fully decentralized web application.

Q: Will we see Greg and Lex on an Elden Ring livestream?

Potentially! Stay tuned.

Connect with Akash

We invite you to dive deeper into the original audio on our YouTube Channel.

Follow Akash Network (@akashnet_) on Twitter to stay up to date with Akash Network, AKT, and the Akash Community.

Join our Discord to get involved with our community.

Are you an Akash super user? Consider joining our Akash Insiders community to get access to the leading edge of the Akash ecosystem, and be among the first to see and test new features before anyone else.

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