ANKR Crypto | ANKR Coin Update 2022

My name is "Mr.Crypt" , and in this blog-post I'm going to give you exactly what you need to know about ankr, but a few things before I start.  I need to give you a disclaimer before I talk about this bill. I am not a financial advisor , I'm just an educator and this blog post is written with the sole purpose of providing you factual information. Please contact a financial advisor if your portfolio has been killed. If you're new here, you might be feeling a little bit lost right  My name is "MrCrypt "and I am your crypto geek here at the cryptolibrarynow .  I pass on the knowledge of cryptocurrencies, exchanges, DeFi, protocols, NFT's  and market analysis are just a few of the topics I tackle on the daily basis. Now enough with the intro. Let's get it on , Let's unpack and see what is ANKR .

What is ANKR -:

Ankr is building a cloud computing platform that will utilize idle computing resources at Edge devices and data centers. So a distributed computing platform, where consumers will be able to access cloud resources far more affordably and enterprises will be able to monetize their spare computing power. They want to be a decentralized version of the large cloud computing services such as Amazon's AWS, Microsoft Azure, or Google's Cloud. However, there are also a number of other competitors to ankr in the blockchain space. So what makes it so unique? In order to answer that, we have to take a closer look into the technology. What makes the ankr network unique is it's one of the first to use trusted hardware to ensure security at enterprise levels. They're using Intel SGX as the main technology component, which allows for the execution of applications within the hardware itself. This technology is more secure against certain hardware and software attacks since it processes certain executions inside the hardware. Of course, this could limit the number of users that are able to run a verification node on the network. This hardware ain't cheap. However, the ankr team is of the view that this will increase the security on the network, as the monetary commitment could be a disincentive for malicious actors. So we'll have to see how this plays out.

ANKR Consensus Mechanism -:

When it comes to the blockchain itself, they use a proof of useful work consensus mechanism. Essentially, validator nodes will take part in block propagation on the network. The team hopes that by using these special nodes, quality of the network can be maintained and bad actors can be removed. Ankr will also utilize a reputation. My system when it comes to choosing these validator nodes, and in order to facilitate off chain data and processing, there is a native Oracle system that transfers between the on chain smart contracts and off chain data. Now in order to power the ankr network the ankr utility token is used. Ankr will be used to pay for computing power to those who are providing it. Now here is the slightly confusing part.

Ankr Coin or Token -:

There are actually three token types. Firstly, you have the ERC 20 variant which was issued on the Ethereum blockchain as well as a bet-2 version which was issued on the binance chain. Then as of July 2019 you have the native token that was issued on the main net launch. This is the token that is used to participate on the ankr network. All of these token types are live, although only the ERC 20 and BEP 2 token. are traded on the open market. The team hopes that this could increase liquidity, although it does muddy the water somewhat. Anyways, Ankr held an ICO back in September of 2018 and they were able to raise about $18.7 million in both private and a crowd sale. This was an exchange for 35% of the 10 billion token supply, ankr tokens were sold at about 0.6 cents in the public portion and 0.3 cents in the private portion. So, so far, a decent return on investment. So who is the driving force behind the project? 

Ankr Team -:

The Ankr core team is made-up of 16 members, many of whom are graduates of the University of California. They have a strong background in Engineering and technical disciplines and some have limited marketing experience, with a few who have successfully created and sold other businesses before joining ankr. This team has been quite busy working on the protocol, something that you can confirm by jumping into their GitHub repositories. There are also several partners and advisors. Who have provided commercial and entrepreneurial expertise to the project. Now let's take a look at the ankr markets, shall we? 

ANKR V2-Update -:

First thing I want to go over is going to be with ankr just recently launching their V2 upgrade. So ankr, like I said, is a web 3.0 infrastructure provider. It works with a number of the top blockchains in the crypto space. If you look at their website, they already work with over 27 networks, 27 supported networks, and they have 7.2 billion daily API requests. So they are a massive project that has grown exponentially. They've grown grown over 20X in 2021 and they've grown grown rapidly in 2022. Already so with their new rollout of V2, their V2 upgrade, they launched a very specific feature that is important. So ankr has moved to completely decentralized node infrastructure with the launch of Ankr token staking. With this new launch, they're going to be allowing users to operate full archive nodes. And blockchains through ankr network and earn a portion of the fees paid to node operators and while this is pretty technical, some people probably don't care too much about this. It's actually a big deal because ultimately the CMO and ankr basically said that this upgrade, this V2 upgrade is moving ankr from a centralized infrastructure provider to a completely decentralized protocol solution, this is a big deal and we're not seeing this in the crypto space at all right now. Yes, they have a couple of competitors, but there are a few key differences which will go over in a minute. So with the launch of staking, developers who build on ankr network are ultimately going to need to self stake. They're going to self stake 100,000 ankr tokens worth about $3200 at the time of writing this blogpost , and ultimately it's going to allow node providers and stakers to receive ankr tokens for their efforts in supporting the blockchain. So ultimately, this is a really big deal for crypto entirely, not just. Ankr, because anger works with a number of huge cryptocurrencies. Ankr isn't a proof of stake blockchain, but basically it is just a node network that supports and helps grow other proof of stake blockchains. So this is a really big deal in my opinion and is why I'm so bullish on this project.

ANKR-Binance Announcement -:

The next thing that came out recently which made me even more bullish is was this strategic investment from Binance Labs .  Binance Labs just came out and announced that they made this strategic investment in ankr. They didn't give us specific details of how much they invested, but either way, it caused ankr's price to skyrocket. Now it's well within the top 100 cryptocurrencies by market cap, and the reason for this is , in Binance Labs announcement, they came out with a couple of interesting points that many people didn't realize, one of which is that when ankr worked with Binance in the past, first of all, they've worked with them for a long time in the past. Ankr was launched in 2017 and has been working with finance for a while, but ankr has previously made open source contributions to the BNB chain and BNB liquid staking. It helps to actually build out BNB's chain core infrastructure in the past. And one of the most interesting things about this announcement is they said that ankr improved the BNB ecosystem by implementing the Aragon and archive node upgrades. This is a big deal because it helped BNB scale and made it more efficient, and with this arragon upgrade it reduced BNB's chain chain storage requirements by 75% and increased the RPC performance tenfold, making it ultimately 100 times faster and this was a lot due to the fact of. Ankr and their Web 3.0 infrastructure. So seeing that ankr had successfully worked with Binance, Binance liked everything they had done in the past. Now Binance decides, well, we want to invest in this project because it's done really well for us. They've actually helped build out the ecosystem, build out the network. That makes me extremely bullish on the project. 

ANKR Vs Chain-link -:

Ankr has a lot of exciting things going forward. When you look at the website, you can see that they have a lot of currently developers working on the network. You could see that they process billions of transactions every single day. And ultimately, with their new decentralized model, it makes it even more competitive to other projects out there when you're looking at actual data what's going on right now. The key thing is that ankr is only behind alchemy in terms of transactions going through its network. Every single day right now, ankr has over 7 billion requests daily. That is second only to alchemy. No other project has more than that and so, yes, while there are some comparable companies out there, let's say like chain link, chain Link does something a little bit different. Chain Link helps web three companies with their price feeds, but ankr helps Web 3 companies with running their core technology faster, more reliably, and ultimately just making it so they can work with any blockchain. That is the one thing I really like about ankr is that they're not tied to anyone blockchain. They're blockchain agnostic. Doesn't matter if avalanche , ethereum , Cardano, Solana doesn't matter which one wins. They're chain neutral, they're interoperable, they connect and bridge as many ecosystems as possible, and ultimately now with their V2 upgrade, they are fully decentralized. 

ANKR Coinmarketcap -:

So this is a project that I am invested in. I'm going to continue to pour more money into this because right now. At its current market cap, currently at right around a $468 million market cap, it has come down substantially from all time highs. At peak, it was close to $0.20 per coin. Now with the bear market and consolidation, it is around 4 to $0.05 per coin. But with all of these major announcements from Binance, all of these new pieces of data I found out with their V2 upgrade what they've done the past with finance. I'm gonna be doubling down on this position and I think it has huge potential to be a massive performing altcoin in the next bull market. So definitely worth checking out this coin. But I am extremely bullish on ANKR.

My thoughts on ANKR -:

So what do I really think of the ankr network? Well, distributed cloud computing is no doubt an interesting use case for blockchain technology. There is a large Bank of idle resources that is just sitting unused at data centers and homes all around the world. Ankr is also a pretty unique project in the sense that they have also focused on a hardware solution of power the network, something that other blockchain computing platforms have not. There is also a pretty strong team behind the project and they have been actively working on protocol. It will be interesting to see how things pan out. But before you go, what do you think of the ankr network? Have you got any questions for me? I'd love to know in the comments .

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