Blockchain Technology Overclock Announces Akash Network – A Blockchain-Powered Compute Marketplace to Disrupt the Cloud Oligopoly Published 7 months ago on 26th March 2018 By Amy Tori March 25, 2018 – San Francisco – Overclock Labs™, the pioneering Cloud vendor enabling Cloud interoperability using Kubernetes™, today announced the Akash Network™(https://akash.network). The Akash Network is a blockchain-powered open marketplace for Cloud Infrastructure that allows companies to sell space on their underutilized servers to developers eager for a competitively-priced alternative to Amazon, Google, and Microsoft. Akash challenges the oligopoly of large cloud infrastructure providers by unlocking the vast amount of underutilized servers sitting in global companies’ on-premise and colocated datacenters, making them available for containerized deployments via the Akash Network. Overclock Labs sees a fundamental problem in the way the Cloud infrastructure industry operates today. Just three companies: Amazon, Google, and Microsoft, effectively control pricing and availability of the Cloud – a situation that will only worsen as Cloud adoption increases. These companies operate at such massive scale that direct competition is no longer possible. At the same time, companies around the world have huge numbers of servers sitting idle in their datacenters – up to 85% of server capacity is unused at any given time. While one company may not be able to challenge the Cloud oligopoly, Akash allows thousands of companies to combine their unused servers into a single, globally-distributed Cloud – effectively using the power of the community to present a real alternative to the big three providers. And it all works because of the blockchain. Here’s how: Companies install the Akash agent on servers they want to register on the network. Once registered as compute providers, they become available for deployment. A developer wishing to deploy a container on Akash simply specifies their deployment criteria (resources, topology, price) in a declarative file posted to the Akash blockchain. Providers detect the new deployment request and programmatically bid to host it. The lowest-price bid wins the auction, a lease is created, and the parties exchange keys. Actual deployment occurs off-chain using industry-standard Docker® containers, distributed over Akash’s peer-to-peer file sharing protocol. Network tenants also selectively and securely establish communications between workloads by defining a connection topology in the deployment file, including mTLS tunnels between workloads in separate locations. Once a workload is live, the agreed-on count of Akash tokens is transferred from the tenant’s wallet to the provider’s wallet on a periodic basis for as long as the workload is live. This settlement activity is written to the blockchain as well, allowing everyone to see the complete history of all providers and tenants. This activity, as well as adverse actions, blacklist events, are elements of a reputation score that helps establish trust in this open environment. “Other providers use the blockchain to create a single virtual machine that can run distributed apps, which are specifically architected to run only on that virtual machine,” said Greg Osuri, CEO and co-founder of Overclock. “Using Akash, any vendor can claim a slice of the cloud computing pie and enjoy recurring revenue without launching a new line of business. We firmly believe that Cloud compute capacity should be traded on the open market, with transparent and competitive prices and users free to change providers at will.” About Overclock: Overclock is a startup that is developing a next-generation of decentralized, open and secure protocols for the next generation of Cloud infrastructure. Connect with Akash: https://t.me/AkashNW https://twitter.com/AkashCloudNet https://www.facebook.com/AkashNW/ Related Topics:Akash NetworkblockchaincryptocurrencyfeaturedTechnology Up Next PATRON Launches ICO, Riding Momentum of $15M Pre-Sale and Major Partnership Announcements Don't Miss Auditchain Co-Founder, Jason Meyers, Confirmed to Speak at CryptoWorld in New York City on March 22 Continue Reading Advertisement You may like Decentralized Payment Solutions For The Global Open-Source Economy A Sustainable and Green Energy Stablecoin How To Buy and Sell a House With Bitcoin and other Cryptocurrencies Introducing Gradient eLocations’ ICO Launches Pre-Sale To Become The Trivago of Commercial Real Estate Navibration Launches Private Token Sale to Bring a Vibration-Based Navigation System to Users Globally Comments Latest Popular Cryptocurrency News3 weeks ago Decentralized Payment Solutions For The Global Open-Source Economy Cryptocurrency News4 weeks ago A Sustainable and Green Energy Stablecoin Blockchain Technology1 month ago An Innovative Blockchain Ecosystem for Soccer Fans Blockchain Technology1 month ago Veridium welcomes William Wei, a former Apple executive and serial entrepreneur, to head its exchange division Cryptocurrency News1 month ago How To Buy and Sell a House With Bitcoin and other Cryptocurrencies ICO News1 month ago CINDX crypto fund management platform allows users to model their investments after those of successful blockchain traders. 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