Everyone has noticed that the crypto market is growing rapidly, new tokens are emerging with different types of use cases. Now, most investors’ eyeballs are turned towards Ankr. Yes, you’ve heard it right. Ankr is an effective cryptocurrency project that has tapped into the prospect of the DeFi (decentralized finance) world.
Ankr project was introduced in the year 2017 as the blockchain-based decentralized finance infrastructure. Also, Ankr is denoted as the Web3 destination that allows cross-chain staking.
The ultimate goal of the Ankr project is to facilitate user-friendly access to Web3 and also improve the efficiency of the blockchain’s infrastructure. Ankr is powered by an ETH coin. Ankr is used in multiple cases such as payments, building decentralized applications, payments, governance and more. The project sounds fantastic right? Yes! Ankr is supporting 40+ blockchain protocols, especially for app development and crypto staking.
Are you curious about the Ankr project? Yes! This article is just for you. Jump into the topic and get to know everything related to the Ankr project.
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What is Ankr (ANKR)?
ANKR is one of the popular Ethereum tokens which powers Ankr. It is a Web3 infrastructure, crypto-staking decentralized finance network that provides an easy and cost-effective approach for its users to build decentralized applications, staking and more on the blockchain ecosystem. Ankr hosts different types of protocols that are related to DApps and also the decentralized finance sector.
Initially, the Ankr network was introduced as the “Distributed Cloud Computing Network”. The goal of this project is to use extra power for cloud computing relying on idle machines. Previously, users need to depend on a single computing service provider. Right from the start, the Ankr team has worked harder to make the blockchain user-friendly for the participants.
The native token for the Ankr platform is ANKR. The ANKR coin will be further used while paying for the service on the Ankr network. It includes node deployment, API service, and more.
Ankr platform was created based on effective distributed ledger technology. With applications and protocols, Ankr is a secured platform for users. The key idea behind the invention of Ankr is to avoid the necessity of centralized parties. It means network participants will have complete control over their applications.
Who founded Ankr (ANKR)?
The co-founders of Ankr Network are Chandler Song and Ryan Fang. In 2017, Chandler and Ryan has founded Ankr Network at “Berkeley University” as the modern distributed computing platform. Previously, Chandler worked as a CEO at Amazon Web Services. Ryan has worked at Morgan Stanley as an investment banker.
Chandler Song introduced Ryan Fang to Bitcoin in 2014. At that time, they discussed purchasing 22 Bitcoin (BTC) together. Later in 2014, their invested Bitcoins became major sources that financed the Ankr project. Chandler and Ryan have acknowledged the cloud-computing industry as a key infrastructure that is capable of driving global innovation. It has led towards building an effective and cheaper decentralized cloud system.
The Ankr network team has raised around $18.7 million dollars over 6 days from its initial coin sale. Later, the Ankr team has conducted the pre-sale of Ankr tokens which has raised around $15.9 million dollars. Ankr has raised over $2.75 million dollars when the sale was open to the public. Ankr Network has raised 10 million dollars from top blockchain investing companies such as NEO Global Capital, Pantera Captial and more.
What makes Ankr (ANKR) unique?
Ankr (ANKR) is the leading product in the decentralized finance sector. The goal of Ankr is to decentralize the new internet. And the project is extending hands towards the development of web3.
There are several unique features of Ankr. The project supports decentralized development, better security and efficient private internet.
Ankr also employs the “Intel SGX”, which is the key component that allows decentralised applications that can be easily executed with any type of hardware system. Hence, the Ankr network can provide cost-effective solutions for its users. It includes developers, enterprises and more. Ankr network hosts multiple functional opportunities for stakers, developers, network users and more.
How many Ankr (ANKR) tokens are available in circulation?
There are around 6 billion Ankr (ANKR) tokens are available in circulation with 49 million dollars as the trading volume. The maximum supply of Ankr is set at 10 billion ANKR tokens.
The current value of the Ankr (ANKR) token is $0.079. The two tokens i.e BEP-20 and ERC-20 are commonly used to offer trading and liquidity on exchange platforms. Users should hold ANKR native coins to access the functions of the blockchain.
How does Ankr (ANKR) work?
Ankr (ANKR) product offering can be classified into two major functions i.e Node infrastructure and StakeFi. Let’s have a look at one another.
Node Infrastructure
Few users don’t have the capability to hold the resources. Ankr Network acknowledges that not all the participants will have the resource. Sometimes, they may not have enough technical capacity or required resources to build a node from the scratch. On the other hand, with the limited resources no user can take part in transaction validation on a proof-of-stake blockchain.
No matter whether the user is planning to launch a node from scratch or the user is looking for validating process on the blockchain, the Ankr network has successfully simplified the process. Both users and developers can use the launch a node around multiple blockchains such as Tron, Kusama and more. Users don’t need to worry about setting up the node, Ankr will look after everything, it checks the node’s performance and makes sure that participants stake fund is not penalized either for downtime or dishonesty.
With Web3, Ankr can simplify the deployment of DApps via API. Additionally, Ankr’s infrastructure enables developers to get access to top blockchain platforms such as Ethereum, Polkadot, Polygon and more. Users don’t need to study lengthy and complex documentation.
StakeFi
The amazing fact about Ankr is that the network has made the onboarding procedure easy. Sounds amazing! Ankr helps the users who are planning to stake crypto coins on different blockchain platforms and validate the transaction. With the help of Ankr’s StakeFi, users can even stake for 0.5 ETH, this may be little. This will be routed to a liquidity pool that has the highest yield.
With the non-custodial feature, everyone is planning to invest in Ankr. As users can keep all their digital assets in their respective wallets. No need to worry about locking up funds in another platform. Users will also receive rewards, aETH, and more. These can be further used to gain access to the DeFi apps and protocols.
In a nutshell
Ankr network develops an amazing solution that helps users to utilize the shared resources and enjoy cost-effective node hosting services on the blockchain. Ankr was created in 2017. With Ankr, enterprises and developers can deploy the blockchain node at a cheap value when compared to other cloud providers in the market. Users are hosting the blockchain node on the Ankr network and eliminating centralization problems and also single-point of the failure. The main goal of Ankr is to create an effective infrastructure platform, web3 deployment marketplace to allow users to connect DeFi applications and other emerging blockchain technologies.
