Ankr is a cloud service platform built to facilitate and economize the hosting of nodes and the development of decentralized applications (Dapp). Ankr’s native cryptocurrency is ANKR, which also bears the project’s own name. In this article, we will look for answers to questions such as what is Ankr, what does Ankr do, what are the advantages of Ankr.
What is Ankr (ANKR)? What Does It Do?
The Ankr project is basically a decentralized Web3 infrastructure provider. It is a cloud service platform that offers a range of tools for blockchain developers, stakers and decentralized applications. It hosts various protocols for decentralized applications and the advancement of the DeFi sector.
It gives enterprises, developers and software developers the ability to easily deploy blockchain nodes by offering cloud storage and hosting. It is an economical solution for cloud storage and hosting for large-scale blockchain projects. With Ankr, unused system resources at the disposal of hosting organizations can be utilized. Developers get cost-effective storage as a result of utilizing available resources.
Ankr enables decentralized applications (Dapp) to interact with multiple blockchains easily and economically. With Ankr, decentralized applications can be quickly built across chains. Developers can create their own DApps on ANKR Network and run their applications using the resources ofthis network. This enables the development of distributed applications that run at lower costs and with greater scalability.
A blockchain cannot be easily built by everyone as it requires technical knowledge, time and effort to set up. Ankr consists of nodes that operate independently anywhere in the world and can request data at any time. In this way, decentralized applications can connect to blockchains faster, more scalable and at lower cost.
Developers need APIsto make a smart contract or decentralized application available on the blockchain. Ankr provides developers with proprietary APIs to meet this need. Instant API access is offered through Ankr’s network of decentralized node providers. This way, in order to use the APIs, developers do not need to run their own private node and synchronize it with the current state of the blockchain. As a result, applications or smart contracts can interact with blockchains much more quickly and easily. Ankr also provides this service to corporate companies.
One of the most common problems in the DeFi ecosystem is the loss of liquidity for cryptocurrency asset stakers. As such, the staked cryptocurrency assets become unusable for a period of time. To solve this problem, ANKR offers the Liquid Stake system, which allows those who want to stake their cryptocurrency savings to stake on multiple blockchains. Unlike the conventional staking system, this system provides flexibility and profitability to those who wish to carry out staking transactions. Users of the Liquid Stake system receive reward tokens equivalent to the cryptocurrencies they stake. These tokens, called Liquid Stake tokens, can be used for trading or liquidity mining. Ankr’s Liquid Stake system supports Ethereum, Polygon, Binance, Avalance, Fantom and Polkadot.
ANKR, Ankr’s local cryptocurrency, is used to access and pay for applications distributed in the network, to participate in governance processes, to provide security for network participants, and to pay for services received. It is a token that can work on both the Ethereum and BNB system. This means that it is both an ERC-20 and a BEP-20 token.
How does Ankr (ANKR) Work?
Those with spare computing power and storage capacity can participate as Ankr node providers. The Ankr blockchain network matches node providers with users who need computing power and storage . Users can request computing resources for a specific task or application. Ankr then distributes the requested computing power and storage capacity across the network of node providers, ensuring that the workload is evenly distributed. The node providers then perform the storage tasks and the results are securely transmitted back to the user .
When the task is completed, node providers are rewarded for their service with ANKR token, the local cryptocurrency of the Ankr network . This reward system incentivizes node providers to provide more computing resources to users.
Through this process, Ankr creates a highly efficient and cost-effective cloud infrastructure supported by a global network of node providers. This platform has the potential to transform the way businesses and individuals access and use cloud computing resources.
What Advantages Does Ankr (ANKR) Offer?
Ankr provides various benefits in the field of sharing computing resources and developing distributed applications by offering advantages such as decentralized infrastructure, resource sharing, low costs, scalability and ease of integration. The details of the advantages offered by Ankr are as follows.
- Decentralized Infrastructure: Ankr operates using blockchain technology, ensuring reliability and transparency. Since there is no single central point, the system becomes more resilient and the failure of a single point does not affect the entire network.
- Resource Sharing: Ankr utilizes idle storage space on the servers of cloud storage providers. In this way, the world’s resources are used efficiently, avoiding costs in every sense.
- Low costs: Ankr offers lower costs to users compared to traditional cloud services. By using distributed computing resources, businesses and developers can run their applications more cost-effectively and optimize business processes.
- Scalability: Ankr increases the scalability of distributed applications. Sharing resources paves the way for applications to handle more demand and user traffic. Furthermore, applications running on Ankr can access resources from different cloud providers and achieve greater scalability.
- Easy Integration: On the Ankr platform, developers can migrate their existing applications and infrastructure to Ankr and combine different cloud providers in just 1 interface. This simplifies the transition process and ensures that existing systems are used efficiently.
- Global Reach: Ankr is a global network with no borders. Users and developers can get involved in Ankr from anywhere in the world. This fosters global collaborations and facilitates access to resources from different regions.
- Tools and Resources: Ankr provides easy-to-use tools and resources to support developers’ work processes. This allows the development process to become more efficient and new projects to be launched more quickly.
Who are the Founders of ANKR Network (ANKR)?
Ankr was founded in 2017 by Chandler Song and Ryan Fang.
Chandler Song is the co-founder of Ankr and currently holds the position of CEO.
He holds a degree in Electrical Engineering and Computer Science from the University of California. After graduation, he started his internship as a Software Engineer at Amazon. Afterwards, he continued to work as a Software Engineer at Amazon. While working at Amazon, he also founded Ankr.
Ryan Fand is the other co-founder of Ankr and currently holds the position of COO. He also studied at the University of California, graduating with a degree in Statistics. Prior to Ankr, he worked at banking firms such as Morgan Stanley and State Street. In addition to his presence at Ankr, he is currently co-founder of PrimeBlok, a company created to provide a more sustainable and efficient blockchain mining and services business model.
If we talk about an interesting statement about this duo; Chandler Song introduced Ryan Fang to Bitcoin and blockchain in his first year at university. He then convinced Ryan Fang to jointly buy Bitcoin. By 2017, the 22 Bitcoins they bought together marked the financial beginning of the Ankr project.
What Other Things to Know About Ankr (ANKR)?
To find out a little more about Ankr (ANKR), it is useful to look at the answers to some of the following questions.
Is ANKR a token? Or is it a coin?
Coin is a cryptocurrency created on its own blockchain. A token is a cryptocurrency that does not have its own blockchain and is created on an existing blockchain. ANKR is a token because it does not have its own blockchain.
What is the ANKR token maximum supply?
ANKR token maximum supply is 10,000,000,000,000 and all of it is in circulation.
Which blockchain is ANKR token on?
ANKR token was created on the Ethereum blockchain in accordance with the ERC-20 standard and is also included in the BNB blockchain.
Is ANKR token mining done?
ANKR is not mined. However, users can be rewarded for staking on the platform.
How to buy ANKR token?
To buy ANKR token, it is sufficient to create a membership in ICRYPEX. Once the membership process is complete, other cryptocurrencies including ANKR token can be traded quickly, easily and securely.
How to Become a Member of ICRYPEX?
After visiting www.icrypex.com from a browser, you can click on the “SUBSCRIBE” button at the top right of the page, fill in the required information and you can easily create your membership.
From mobile devices, primarily;
Android users can download our app by clicking here, Apple users by clicking here and HUAWEI users by clicking here. After logging in to the application, you can click on the menu icon at the top left, then click on “SUBSCRIBE” to fill in the required information and easily create your membership.
