Ankr Network

Introduction to Ankr Network (ANKR)

Ankr Network (ANKR) is a decentralized infrastructure platform designed to make blockchain technology more accessible and affordable. By leveraging cloud computing resources, Ankr creates a marketplace where users can deploy blockchain nodes and decentralized applications (dApps) with ease. ANKR is the native utility token that powers this ecosystem, enabling various functionalities within the network.

What is ANKR?

ANKR is the native cryptocurrency token of the Ankr Network, a Web3 infrastructure provider that aims to democratize access to blockchain nodes and staking services. Founded in 2017 by Chandler Song, Ryan Fang, and Stanley Wu, Ankr Network has evolved from a distributed computing platform into a comprehensive blockchain infrastructure solution that serves both individual developers and enterprises.

The ANKR token operates primarily on the Ethereum blockchain as an ERC-20 token but is also available on multiple chains through various bridges. With a focus on making Web3 accessible to everyone, Ankr Network has positioned itself as a crucial part of the blockchain ecosystem by providing the necessary infrastructure for developers and users to interact with various blockchain networks.

How Does ANKR Work?

Ankr Network functions as a distributed computing platform that connects idle computing resources with those who need them for deploying blockchain nodes. Here's how the system works:

Node Deployment System

Ankr's infrastructure allows users to deploy full nodes or validator nodes across various blockchain networks with just a few clicks. This eliminates the technical complexity typically associated with node setup and maintenance.

Resource Marketplace

The platform creates a marketplace where data center operators and cloud providers can offer their excess computing capacity, while developers and enterprises can purchase these resources to run their blockchain applications.

Multi-Chain Support

Ankr supports over 50 different blockchain protocols, making it a truly multi-chain solution. This allows users to access nodes across various networks through a unified API.

ANKR Token Utility

The ANKR token serves multiple functions within the ecosystem:

• Payment for services within the Ankr platform
• Governance voting rights for protocol decisions
• Staking to secure network operations
• Earning rewards for providing computing resources

ANKR Staking and Mining

ANKR does offer staking options but does not support traditional mining. Here's how the staking mechanism works:

Staking Options with ANKR

Ankr Network has introduced several innovative staking solutions:

Liquid Staking

Ankr pioneered liquid staking solutions that allow users to stake their tokens while receiving liquid staking tokens in return. These tokens (like aETH for Ethereum staking) represent the staked assets and can be used in various DeFi applications while the original assets continue earning staking rewards.

StakeFi Platform

Ankr's StakeFi platform allows users to stake a variety of cryptocurrencies across multiple blockchains. The platform simplifies the staking process and maximizes yields through its optimized infrastructure.

Provider Staking

Node providers can stake ANKR tokens as collateral to ensure service quality. This staking mechanism helps maintain the reliability of the network's infrastructure services.

Mining with ANKR

ANKR does not support traditional mining as it doesn't use a Proof of Work (PoW) consensus mechanism. Instead, the network relies on a combination of delegated Proof of Stake (DPoS) and other consensus mechanisms depending on the blockchain being serviced.

What is ANKR Used For?

The ANKR token serves multiple purposes within the Ankr Network ecosystem:

Service Payment

ANKR is used as payment for various services on the platform, including node deployment, API access, and other infrastructure services offered by Ankr Network.

Governance

Token holders can participate in governance decisions through voting, influencing the future development of the protocol and its features.

Staking Rewards

Users can stake ANKR tokens to earn rewards, contributing to the network's security and operations.

DeFi Integration

ANKR tokens can be used within decentralized finance applications, especially through Ankr's liquid staking solutions that enhance capital efficiency.

Enterprise Solutions

Businesses use ANKR to access enterprise-grade API services and blockchain infrastructure through Ankr's Enterprise offerings.

ANKR Token Distribution and Launch

Ankr Network (ANKR) conducted its initial token distribution through a combination of private sales and a public Initial Coin Offering (ICO):

Initial Token Sale

The ANKR token was launched in March 2019 through an ICO on the Binance Launchpad. The token sale raised approximately $18.7 million, with tokens priced at $0.0067 each.

Token Allocation

The total supply of ANKR tokens is capped at 10 billion. The distribution was allocated as follows:

• 40% - Token sale (public and private)
• 30% - Ecosystem development and partnerships
• 15% - Team and advisors (with vesting periods)
• 10% - Marketing and community building
• 5% - Reserve fund for future development

Vesting Schedule

Team and advisor tokens were subject to a vesting period to ensure long-term commitment to the project, with tokens unlocking gradually over 2-3 years following the ICO.

Additional Information About ANKR

Recent Developments

Ankr Network has significantly expanded its offerings beyond basic node infrastructure. The platform now provides:

• AppChains as a Service - Custom blockchain solutions for specific applications
• RPC (Remote Procedure Call) Services - Enterprise-grade API endpoints for various blockchains
• Cross-chain bridges - Solutions for asset transfers between different blockchains
• Gaming SDKs - Tools for Web3 game developers

Partnerships

Ankr has established partnerships with major blockchain networks including Binance Smart Chain, Polygon, Avalanche, and many others to provide infrastructure services. The platform also works with leading enterprises looking to implement blockchain solutions.

Trading ANKR with Cryptohopper

Investors and traders interested in ANKR can easily trade this cryptocurrency on various exchanges using Cryptohopper's automated trading bot. Cryptohopper allows users to set up sophisticated trading strategies for ANKR and other cryptocurrencies, enabling 24/7 automated trading without requiring constant monitoring. This makes it easier to take advantage of market opportunities in the ANKR market across any exchange where the token is listed.

Future Roadmap

Ankr Network continues to develop its infrastructure with a focus on:

• Enhanced multi-chain support for emerging blockchain networks
• Improved API services with greater reliability and lower latency
• Expanded staking solutions across more protocols
• Further decentralization of the infrastructure network
• Integration with additional DeFi and Web3 applications

As Web3 adoption continues to grow, Ankr Network (ANKR) is positioning itself as an essential infrastructure provider that bridges the gap between traditional web technologies and the decentralized web, making blockchain technology more accessible to developers, enterprises, and users worldwide.