The goal of Ankr is to facilitate the widespread usage of Web3 by providing a system for deploying nodes on Proof of Stake (PoS) blockchains, staking PoS tokens, and using DeFi apps.
Many people see participating in a Proof-of-Stake (PoS) blockchain as an appealing way to generate income.
However, many people feel daunted by the idea of getting started due to the need for expensive technology and advanced technical knowledge.
Ankr aims to solve these problems by making setting up a node on dozens of different blockchains as easy as clicking a button.
For all the services the Ankr platform offers, node operators must pay only a monthly fee.
When it first debuted, Ankr was a network for distributing cloud computing resources.
The idea behind it was to not rely solely on a cloud service provider but rather to use the unused computing power of a distributed group of devices.
Since then, the group has ramped up its efforts to facilitate everyone’s involvement in the development and use of blockchains.
The ANKR coin, Ankr’s native cryptocurrency, can be used as payment within the Ankr ecosystem.
Who Created Ankr?
Chandler Song and Ryan Fang, two UC Berkeley roommates, and Stanley Wu, a former Amazon computer engineer, created Ankr in 2017.
Song worked for Wu at Amazon Web Services, where he was an intern manager. Song, Fang, and Wu were all talking about a paper on Proof of Useful Work one night after work.
After having that conversation, Song, Fang, and Wu founded Ankr, with Song as CEO, Fang as COO, and Wu as CTO.
The Ankr team could generate $18.7 million in just six days from their initial token sale.
The group brought in $15.9 million through a presale and $2.75 million through a public sale. Only 3.5 billion out of a possible 10 billion tokens were sold.
The likes of Pantera Capital and NEO Global Capital, two of the most well-known names in blockchain investing, have contributed tens of millions of dollars to Ankr’s funding round (NGC).
How Does Ankr Work?
We may classify Ankr’s products into two primary categories based on their primary purposes:
The Nodes Network
Ankr understands that not every user can start a node from scratch or take part in the validation process on a Proof of Stake blockchain due to a lack of resources or expertise.
Ankr streamlines the process for users or developers across dozens of blockchains, including Bifrost, Tron, and Kusama, to build a full node storing the chain’s complete information or a validator node storing simply the current status of the chain.
Ankr removes the hassle of setting up a node and monitors the node’s activity to prevent users’ staked cash from being lost due to dishonesty or downtime.
Ankr has promoted Web3 adoption by making it easier to roll out dApps via its application programming interface (API).
By leveraging Ankr’s infrastructure, developers can easily integrate with dozens of popular blockchains, including Ethereum, Polygon, and Polkadot, without having to learn their ins and outs.
The API solutions offered by Ankr should shorten deployment times and supply dApps with more up-to-date information.
StakeFi
Token staking is a kind of transaction validation used by many blockchains, and Ankr makes it easier for users to join such networks and begin staking.
You need technical knowledge to set up and maintain a node, and you also need to stake 32 ETH to become a validator on the Ethereum 2.0 network.
Individuals can use Ankr’s StakeFi to stake as little as 0.5 ETH, with all their stakes automatically distributed among the pools that generate the maximum returns.
Users do not need to transfer their assets to a separate wallet or platform because the platform is non-custodial.
In exchange, they are able to gain access to various decentralized financial applications and protocols, as well as aETH (a synthetic token on the Ankr platform that represents the value of ETH) and other prizes.
ANKR Token
The cryptocurrency Ankr (ANKR) features a built-in token. It’s tradable on multiple markets like Binance, Mandala Exchange, and CoinTiger and has many valuable features.
In ANKR, cloud service providers are initially reimbursed for using their idle resources by renting out the hardware. Sometimes, you can utilize ANKR to buy services associated with node deployment and APIs. Users can take part in ecosystem governance and shape its direction.
The total quantity of Ankr is capped at 10 billion coins, with only 8.16 billion in circulation at the moment.
Why Invest In Ankr (ANKR) Coin?
The Ankr (ANKR) token can now be purchased through Coinbase Inc (NYSE: COIN), the most popular cryptocurrency exchange in the United States and a leader in the industry due to its stringent policies and procedures.
Including the ANKR token on Coinbase is convincing evidence of the token’s widespread adoption. As such, it validates ANKR as a digital token with real-world value and lends legitimacy to the ANKR token, making it more trustworthy in the cryptocurrency exchange market.
Different forecasts have been made for the future of the ANKR token, and when taken together, those from trusted sources like Walletinvestors, Capital, and DigitalCoin suggest a positive future for the ANKR coin.
The cryptocurrency market’s volatility means it’s impossible to say whether or not Ankr is a solid investment.
While some may question whether or not investing in ANKR is worthwhile, others are confident in the project’s long-term success.
The ANKR’s greatest asset is its ability to function as a distributed, cloud-based network. ANKR makes it possible for everyone to gain from running a bitcoin node without putting in any effort when this was not possible for ordinary people in the past.
Conclusion
Anyone using blockchain technology will likely find some facet of Ankr’s offerings helpful.
Users can stake their cash across multiple blockchains in a suite that can handle assets across many blockchains at once.
The tools used to construct decentralized multi-chain applications are made available to developers, allowing for rapid rollout to other networks.
Companies can also acquire bespoke solutions to incorporate their products, infrastructure, and more into their own platforms.
As a result, Ankr is now counted among the most rapidly expanding distributed-infrastructure service providers, and the company is working hard to expand its offerings to the Web3 community.
