Ankr

What is the token?

• ANKR is a cryptocurrency that powers Ankr, a Web3 infrastructure and cross-chain staking DeFi platform.

• By providing decentralized cloud computing solutions, ANKR aims to make it easy and affordable for anyone to participate in blockchain ecosystems.

• ANKR is used as a utility token within the Ankr network for various services, including staking and voting on governance proposals, and as a payment method for accessing services on the network.

Tokenomics

• ANKR has a maximum total supply of 10 billion tokens.

• The token distribution includes allocations for community and ecosystem incentives, teams and advisors, and a reserve for network growth.

Market Data

As of today #{today’s date}, the price of Ankr is ₹2.92 INR or 0.03332 USD, with a 24-hour trading volume of 19637997.09 USD. The market capitalization for Ankr is 332248672.77USD. The circulating supply is 10000000000 Ankr, with the total supply also being 10000000000 Ankr.

Token Pros and Cons

Pros:

• Decentralized Web3 Infrastructure: ANKR is part of the growing Web3 ecosystem, providing infrastructure solutions for decentralized applications (dApps), a rapidly expanding sector.

• Cross-Chain Functionality: ANKR supports various blockchain networks, offering cross-chain staking and node infrastructure, which could lead to widespread adoption and utility.

• Cost-Effective Solutions: The platform offers cost-effective blockchain integration for businesses, which could drive demand for ANKR tokens as the need for blockchain solutions grows.

• Community Governance: ANKR holders can participate in governance decisions, giving them a say in the future development of the network.

• Staking Rewards: Users can earn rewards by staking ANKR, an attractive feature for investors looking for passive income.

Cons:

• Limited Use for Non-Developers: The platform’s services are primarily geared towards blockchain developers, which may limit its appeal to the general public.

• Regulatory Risks: The cryptocurrency market is subject to regulatory changes that could affect the adoption and value of ANKR.

• Market Sentiment: The current sentiment around ANKR is bearish, and the Fear & Greed Index indicates a level of fear which could influence investment decisions.

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• ANKR offers cost-effective solutions for businesses and developers looking to integrate blockchain technology, which could drive demand for the token.

• Investors can earn staking rewards by holding ANKR tokens, providing an opportunity for passive income.

• Token holders can participate in governance decisions, influencing the development and direction of the ANKR network.

USP of the coin

• The unique selling point (USP) of ANKR is its role as a utility token in a decentralized cloud computing platform that aims to leverage idle computing power to create a more efficient and cost-effective blockchain infrastructure.

The problem the coin is solving

• ANKR and the Ankr platform aim to solve the problem of underutilized cloud computing resources by enabling a sharing economy for cloud infrastructure.

• This approach seeks to reduce costs and increase accessibility to blockchain technologies.

Founder and team background

• Ankr was founded in 2017 by Chandler Song, Stanley Wu, and Ryan Fang.

• Song and Wu are former Amazon software engineers, and Fang is a former banking analyst.

• The team’s background combines expertise in software engineering and finance.

ICO Price

• The ICO price of ANKR was $0.0066 during the public sale, with earlier private sale prices ranging from $0.0033 to $0.0055.

Risks Associated with Investing in the Coin

• ANKR faces stiff competition in the blockchain infrastructure space, which could affect its market share and token value.

• The success of ANKR is heavily dependent on the adoption of its infrastructure by developers and businesses.

• More adoption is needed to ensure the growth of the ANKR network.

The Ankr whitepaper outlines the vision and technical details of the Ankr network, a decentralized cloud computing platform. The platform is designed to utilize idle computing resources from data centres and personal computers worldwide, creating a more cost-effective and efficient solution for cloud services.

Ankr’s infrastructure is built on a distributed network of nodes that provide computational power for various blockchain protocols and applications. This network allows users to deploy and run nodes, participate in staking, and access developer APIs for building decentralized applications (dApps).

The ANKR token is integral to the ecosystem, serving as a means of exchange for services within the network. It is used to pay for node deployment, access to premium APIs, and reward network participants who contribute their computing resources. The token also plays a role in the governance of the Ankr network, allowing token holders to vote on proposals and influence the direction of the platform’s development.

The whitepaper discusses the technical architecture of the Ankr network, including its consensus mechanism, node structure, and the use of state channels for off-chain computations. It also covers the security measures to protect the network and its users, such as cryptographic algorithms and a decentralized trust system.

Ankr’s approach to cloud computing is designed to be more flexible and scalable than traditional cloud services. By leveraging blockchain technology, Ankr aims to provide a secure and transparent environment for cloud computing, which can benefit developers and businesses looking to integrate blockchain into their operations.

The whitepaper also addresses the challenges the cloud computing industry faces, such as the centralization of resources and the high costs associated with maintaining and scaling infrastructure. Ankr’s solution is to create a marketplace for computing power where users can monetize their idle resources, and developers can access affordable and scalable cloud services.