Ankr is a distributed computing platform for the development of Web3, otherwise known as the decentralized internet. Ankr utilizes idle computing power in data centers and edge devices to make it easy and affordable for anyone to participate in blockchain ecosystems by building Dapps, hosting nodes, or staking.
The ANKR token can be used to pay for services on the Ankr platform, such as node deployment and API services, participate in on-chain governance, and as insurance for network participants.
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Read on to learn everything you need to know about the Ankr platform and the ANKR token.
What Is Ankr
Ankr is a blockchain-based cross-chain infrastructure with a DeFi platform that enables staking and Dapp development. It aims to leverage spare computing power to allow enterprises to use untapped cloud computing power from on-site data centers at an affordable rate while also allowing companies to monetize on their spare computing power.
Ankr was designed to develop Web3 based on distributed ledger technology and is the first to use trusted hardware to ensure a high level of security. Its main goal is to enable the development of decentralized, private, and secure applications, protocols, and systems, giving ownership and control over data and applications to network participants.
Ankr was founded in 2017 by CEO Chandler Song. After releasing the Ankr mainnet in 2019, the ANKR project launched the staking protocol Stkr, allowing users to stake Ethereum (ETH) in return for aETH, representing the future gains on the deposited staking balance. This way, participants are rewarded for staking through the Stkr protocol. They can also deploy development nodes, build dApps on the network, and stake on the ANKR Web3 platform.
The three main lines of business are Staking Nodes, Developer API, and Enterprise solutions.
Ankr's proprietary cloud infrastructure operates independently of existing cloud infrastructure providers and is supported by geographically dispersed enterprise-grade data centers for increased stability and resilience. It simplifies the deployment of blockchain nodes by allowing developers to easily host them and eliminates the need for complex and costly centralization setups.
The Ankr platform aims to provide users with customizable and user-friendly node deployment solutions and APIs designed to lower the barriers to entry for developers and enterprise clients who can contribute to the ecosystems of relevant blockchains.
The Ankr Node Marketplace provides users with the ability to deploy full blockchain nodes and validator nodes in minutes. The Ankr API Marketplace provides one-click deployable API solutions for public blockchains and DeFi protocols.
Ankr Founders
The Ankr Network was founded by Chandler Song, an Electrical Engineering & Computer Science graduate of the Californian university, Berkeley. Song has many years of working experience as an engineer with AmazonWeb Serv and is currently the CEO of Ankr.
Chandler adopted Bitcoin early and contributed to developing CitySpade's peer-to-peer real estate brokerage start-up, new York.
The co-founder of Ankr, Ryan Fang, is also a Californian University graduate and was previously a financial banker at Morgan Stanley and Credit Suisse.
Chandler Song initiated Ryan Fang into blockchain and Bitcoin in 2014 during their freshman year and convinced him to buy 22bitcoin. They used these bitcoins in 2017 to fund the (Ankr) project. Chandler and Ryan recognized that cloud computing was a powerful force for global reform and decided to develop a cheap decentralized cloud that could serve as a platform for global innovation.
The Ankr main team consists of sixteen members; many are graduates from Californian University Berkeley with engineering backgrounds. Among notable team members are Stanley Wu, one of the first engineers working with Amazon web Services around 2008 and part of the Alexa Internet team, and Song Liu, the Ankr Chief Security Engineer, with experience working with Microsoft, Amazon, etc.
How Does ANKR Work
Ankr aims to create and develop Web3. It uses computing power supported by DLT to collect data resources that are deployed to stakers and developers through data centers at lower costs to achieve decentralization of applications and staking nodes and support the Web3 infrastructure.
Ankr provides developers with the necessary tools and resources to effortlessly create and deploy Dapps and stake their balances.
Ankr staking is supported by the Stkr protocol, launched in 2020. The protocol supports the staking of ETH in return for aETH, which represents the value of staked Ether plus the assumed returns on the staking balance, building a system with high liquidity for the future stakers of Ethereum 2.0.
The native token of the network is ANKR. It has multiple utilities, which involve payments and access to apps deployed on the platform, staking, and voting on governance proposals. Ankr aims to support more blockchain protocols as part of its work on developing Web3, the more private and secure decentralized internet.
Ankr has launched over 15,000 nodes globally that support over 50 Proof-of-Stake blockchains.
Ankr Network
Ankr uses blockchain technology as an integral part of the infrastructure to facilitate payments on the platform, monitor globally distributed resources, measure user/supplier reputation data, etc.
Ankr verification nodes are used during the validation process to ensure that the network is maintained and that no bad actors are detected. To prevent exploitation and ensure that only good actors are selected, Ankr uses a reputation-based system.
The Intel SGX is Ankr's main component used for high-level security against hardware and software attacks. There is also a Native Oracle System that processes off-chain data and transfers it between smart contracts. The Data Source Security is handled through TLS 1.2,1.3 and Perfect Forward Security, or PFS.
ANKR price is influenced by various factors, including the limited supply of 10 billion ANKR tokens and conditions on the broader economy. Before purchasing Ankr make sure to check out our article on how to buy Ankr. Developments, updates, and upgrades, such as the release of the Stkr staking protocol and the ANKR mainnet, are also factors that influence the ANKR price. The intrinsic value of Ankr is mainly defined by its technology, technical capacity, and use cases.
