Ankr Network

What is Ankr Network?

Ankr is a blockchain-based infrastructure that facilitates cross-chain operations and includes a DeFi platform supporting staking and dApp development. Within its ecosystem, Ankr hosts various protocols relevant to dApp development and the DeFi sector.

For example, Ankr Build offers comprehensive solutions for blockchain developers, encompassing traditional APIs, a decentralized multi-chain network of public RPC nodes used to access blockchain data and execute code, along with useful tools like Ankr Scan to view on-chain information across different blockchains.

Ankr Earn simplifies staking, liquid staking, and other yield-earning opportunities, making them accessible to all crypto investors. The platform aims to create the most scalable and decentralized staking infrastructure solution, addressing the capital inefficiency issues found in Proof-of-Stake networks and other blockchain consensus mechanisms.

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Recent Video Interview

Main points of the interview:

• Ankr offers high-quality endpoints and connections to over 30 blockchains.
• Simplifies app development with App Chains.
• Strategic partnerships, like with Microsoft Azure, expand accessibility, enabling millions of developers to build on the platform.

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The Main Fuctions of Ankr Network

Ankr's simplified node infrastructure caters to users who may lack the resources or technical knowledge to set up and run nodes on Proof of Stake blockchains like Bifrost, Tron, and Kusama. Ankr manages the node performance to ensure users' staked funds are not penalized for dishonesty or downtime.

Moreover, Ankr aims to boost Web3 adoption by offering an easy-to-use application programming interface (API) for deploying decentralized applications (dApps) on popular blockchain platforms like Ethereum, Polygon, and Polkadot. This API solution accelerates implementation timelines and provides timely and accurate data for dApps.

Ankr's StakeFi further simplifies token staking and transaction validation for individuals. With StakeFi, users can stake as little as 0.5 ETH, which is automatically directed to high-yield pools. The platform is non-custodial, allowing users to keep their assets in their wallets without locking them on a separate platform. In return, users receive aETH (a synthetic token representing the value of ETH) and additional rewards, which can be used in decentralized finance applications and protocols.

Ankr Team Background and Partnerships

In 2017, Ankr was established by Chandler Song and Ryan Fang, who were former college roommates at UC Berkeley, along with Stanley Wu, a former computer engineer at Amazon. Chandler Song had previously interned at Amazon Web Services, where he worked under the supervision of Stanley Wu.

One evening, after their work at Amazon, Chandler Song, Ryan Fang, and Stanley Wu engaged in a conversation about a paper on Proof of Useful Work. This discussion served as the catalyst for the inception of Ankr, with Chandler Song assuming the role of CEO, Ryan Fang as COO, and Stanley Wu taking on the position of CTO.

Ankr has partnered with famous entities worldwide, such as Microsoft, Mastercard, Tencent Cloud, Binance, Aave, Polygon, 1inch, SpiritSwap, SuhiSwap, Zapper...

Ankr Network Project Development

Ankr's Enterprise RPC Service offers global blockchain connections with low latency. In addition to this, Ankr's collaboration with Microsoft introduces access to the AppChains product. Ankr AppChains enables enterprises to swiftly launch their own dedicated and fully customizable blockchains, empowering their Web3 strategies. This service is now available on Azure Marketplace alongside the Enterprise RPC solution.

In the past, Ankr's AppChains product has facilitated Web3 organizations in launching scalable application-specific blockchains for their decentralized apps or projects through an automated process. Surprisingly, traditional enterprises have shown significant interest in AppChains, making it an attractive choice for various solutions catering to institutional clients, banking, CBDCs, gaming, and more.

Recognizing the demand for trusted solutions by traditional firms, Ankr's inclusion of the AppChain solution in Microsoft's Azure Marketplace provides an easy and vetted path for businesses to explore and implement use cases related to the aforementioned sectors. This collaboration opens up new possibilities for innovation and adoption of blockchain technology in diverse industries.

Ankr Network Price Analysis

As of November 24 2024 Ankr Network has a marketcap of $392M. This is {{percentagefromath}} from its all time high of $0.213513. In terms of its tokenomics, there's a total supply of 10B with 100% currently outstanding. Keep in mind Ankr Network has a fully diluted value of $392M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.