What Is ANKR – Is This Cryptocurrency Project Worth the Investment

In recent months, there has been a lot of talk about the transition towards web 3.0. This would be a data-driven, highly decentralized, internet age that will allow for openness, more privacy, and global interconnectedness on a scale never seen before. However, one of the biggest challenges for Web 3 is to develop the necessary infrastructure needed to power it.

Well, some projects are trying to do this, and Ankr (ANKR) is one of them. The cloud blockchain is considered one of the most promising infrastructures for a web 3 revolution and is the subject of our review. We’ll look at what it is, the kind of features it offers, and why every crypto investor should watch it closely.

What is Ankr (ANKR)

Ankr describes itself as a decentralized infrastructure designed to make it easier for people to build and earn in Web3. In essence, the project is hoping to provide a powerful and reliable multichain toolkit that will make it easier for people to access blockchain infrastructure. Ankr is going to do this in several ways.

However, at the center of it, all will be its decentralized cloud computing. This is the ability to bring together idle computing resources around the world for businesses and individual consumers to use. The end goal is to democratize access to computing power that could help steer the web 3 revolution.

But it doesn’t end there. Ankr is also looking to offer integrated DeFi solutions, GameFi, and a host of other features that allow people to use blockchain technology to earn in Web 3.

Who Are the Founders and Backers of Ankr?

The Ankr Protocol was founded by Chandler Song and Ryan Fang. Song serves as the CEO and worked as a software engineer for Amazon Web Services before starting his own company. His main areas of expertise are in cloud computing, distributed systems, and entrepreneurship.

Fang on the other hand serves as the COO for Ankr. He has a great history of launching startups and was voted among Forbes’s top 30 individuals under the age of 30. He has previously worked as a tech analyst in the banking industry.

The list of backers and strategic partners is also quite good for Ankr. Notable venture capital firms that are already funding this project include Quest Capital, ORCAS, Drops Ventures, JLAB, Shinobi Capital, Optimista Capital among a host of others.

What Are Ankr’s Main Features?

Ankr has several key features that make it a very unique blockchain project. We have highlighted some of these here below:

Decentralized Cloud Computing

One of the key strengths of the Ankr protocol is its ability to offer decentralized cloud computing. In essence, the platform allows average users to lend their idle computing resources to businesses around the world and earn money from it.

Cloud computing as of now is a centralized sector that is dominated by two or three companies. But Ankr is hoping to change this by allowing average people to contribute to the web 3 revolution by simply offering their idle computer power.

Multi-Chain Tools

Ankr is also focused on building a multi-chain toolkit that allows people to access and earn from any blockchain ecosystem. The project sees this as the foundational layer for the wide-scale growth of the decentralized digital economy. So far, Ankr offers seamless integration with over 40 blockchains. More are expected to be added in the future.

This gives developers the tools they need to create accessible and innovative decentralized apps in DeFi and other sectors as well. Also, developers get access to a series of premium blockchain APIs to help integrate decentralized infrastructure with everyday services.

Ease of Use

Ankr is also striving to offer what it calls “turnkey” decentralized infrastructure for business and other enterprises. Whether it’s decentralized cloud computing, access to DeFi protocols, or anything else, Ankr makes it easier for people with no or limited technical know-how to access. This ease of use is also extended to developers who want to create for Ankr.

Diversification

Ankr was primarily envisioned as a decentralized cloud computing service. But it has actually diversified its capabilities to create an all-inclusive blockchain ecosystem that can power several key decentralized technologies. In fact, so far, several DeFi protocols are already running on Ankr including Stkr, DeFi Land, and others.

Ankr is also launching support for NFTs through its NFT3 project. We have also seen the launch of a new gaming SDK that will allow developers to create Web 3 games using the tools offered by Ankr. This diversity in decentralized capabilities has the potential of making Ankr a strong multi-chain developer toolkit.

Investing in Ankr (ANKR)

As with many blockchain projects, the best way to invest in them is to buy their native governance and utility tokens. For the Ankr protocol, this token is called ANKR.  So, how does it all work, and is it even worth it as an investment? Here are some details:

ANKR – Tokenomics

As noted above, ANKR is the main utility token for the Ankr protocol. This means that users providing idle computing resources for the network will be paid using ANKR. Also, businesses and consumers who want to use the computing resources offered by Ankr will pay in the native token.

The ANKR is also used for staking within the ecosystem. According to Coinmarketcap.com, the lifetime supply of ANKR tokens is capped at 10 billion. As of now, over 6,496,232,711 tokens have already been vested which is more than 64%. The rest is expected to be released through staking and rewards.

Is Ankr (ANKR) Worth Your Money?

The simple answer is Yes. There are reasons for this of course. But the most important is the disruptive potential this project has on the cloud industry. It is estimated that the global cloud computing industry generates $368 billion a year. The industry is however highly centralized and is dominated by only three companies. This includes Amazon Web Services (AWS), Microsoft, and Alphabet Inc.

Decentralized cloud computing, which is safer and cheaper, could help bring a share of that billion-dollar industry towards Ankr.  In addition to this, Ankr is making itself an all-inclusive blockchain ecosystem that is expected to lay the foundation for the web 3 age. While cloud computing remains central to its model, it is also integrating innovative DeFi, NFT, and GameFi projects in its ecosystem.

Besides, the project is running a $10 million grant program designed to incentivize developers to create on its chain. This is likely going to help Ankr diversify its capabilities and bring in more revenue streams.

It is also important to note that Ankr offers incredible multi-chain capabilities. In fact, as of now, over 40 blockchains are supported by its multi-chain toolkit. This can help create unprecedented interoperability, something that will make decentralized commerce more accessible and affordable for people.

Conclusion

Ankr is not the only project looking to lay down the groundwork for Web 3. It’s also not the only project trying to disrupt the $350 billion a year cloud computing industry. However, it seems like the project is putting in place the infrastructure needed to dominate the decentralized cloud in the future. This makes it a very promising project especially now that talk about the web 3 transition is heating up.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.