Ankr (ANKR) is an Ethereum token that powers Ankr, a Web3 infrastructure and cross-chain staking DeFi platform that aims 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 also acts as an insurance for network participants.
What Is Ankr (ANKR)?
Ankr (ANKR) is a blockchain-based platform that aims to develop a decentralized internet. The main idea behind the creation of Ankr is to eliminate the need for intermediaries and central authorities. The platform aims to provide ownership and control over data and applications to network participants and users.
To achieve this goal, Ankr brings two movements together: Web3 and decentralized finance (DeFi). The Web3 movement is about protocols and decentralized applications (DApps), whereas the DeFi movement provides a financial structure for Web3.
In addition, Ankr’s vision is to make Web3 and the crypto economy available to everyone on the planet with the help of the internet. It intends to free individuals from complexity by providing them with simple tools enabling their easy participation. Moreover, Ankr wishes to remove barriers to participation in the crypto economy for people as well as organizations in a similar way. Ankr aims to work toward achieving this vision in three ways:
Users and Community First by Design: Ankr keeps the needs of the community and participants at the forefront of their technological development. The platform intends to create products and services that users want and design ecosystem offerings that are convenient to engage with.
Removing Complexity: Ankr simplifies the complexity of blockchain and DeFi by providing Web3 infrastructure. It also offers a one-click solution to enable users to earn rewards on their holdings.
Building an Inclusive Web3 Blockchain Infrastructure: Ankr wants to empower developers with easy-to-use tools and interfaces to a multichain environment.
According to the whitepaper, Ankr was first introduced as a distributed cloud computing network—a computing model to serve data and applications from geographically distributed sites to meet needs for performance and compliance. Ankr believed that idle cloud computing power should not go to waste. Its goal was to utilize extra cloud computing capacity from a network of idle devices instead of relying on a single cloud computing power. Therefore, using Ankr’s technology, companies can use excess cloud computing capacity from data centers and edge devices that aren’t being utilized to their full potential. Since then, the team has increased its efforts to make it easy for everyone to participate and use blockchains.
Ankr’s native cryptocurrency is ANKR coin, which serves as a payment option across the platform.
History of Ankr (ANKR)
Ankr is an invention of three people: Chandler Song, Ryan Fang, and Stanley Wu. The platform was founded in 2017. Chandler Song and Ryan Fang were former college roommates at UC Berkeley, and Stanley Wu is a former Amazon computer engineer. Song worked as an intern at Amazon Web Services, where Wu was his manager.
The potential of the cloud computing sector was recognized by all three of them, which led to the founding of Ankr, with Song as CEO, Fang as COO, and Wu as CTO.
How Are New ANKR Tokens Created?
Ankr utilizes the staking process to provide rewards to the users in multiple ways. Staking is a process of earning rewards by holding certain cryptocurrencies. However, the exact implementation of the process differs from project to project. But, in essence, users put their tokens on the line for getting a new opportunity to add a new block to the blockchain in exchange for a reward. Their staked tokens act as a guarantee of the legitimacy of any new transaction they add to the blockchain.
Traditional staking creates barriers for the majority of people interested in staking. Thus, Ankr offers a simplified process for users wanting to stake tokens on various blockchains and assist in validating the transactions as well. Using the Ankr platform, users can earn staking rewards in multiple ways, such as liquid staking, pooled staking, parachain liquid bonding, and more.
How Many ANKR Tokens Are There?
Ankr (ANKR) has a maximum supply of 10 billion ANKR coins.
How to Buy ANKR Tokens
ANKR tokens can be easily purchased through exchanges like Coinbase.