What is Ankr (ANKR)? How to Buy and Use It

Ankr is a leading Web3 infrastructure company that simplifies interactions for developers, decentralised applications, and users across various blockchains. It has a global network spanning over 50 Proof of Stake networks. 

Ankr offers a suite of products tailored for building, earning, gaming, and more within the blockchain ecosystem. It is dedicated to facilitating the seamless adoption of Web3. 

By focusing on cross-chain staking, Ankr enhances accessibility to Web3, striving to optimise efficiency in blockchain infrastructures. Ankr provides a user-friendly platform for deploying nodes on Proof of Stake blockchains, staking tokens, and accessing DeFi applications. 

At the core of Ankr’s ecosystem is its Ethereum-based token, ANKR. Users can utilise this token for staking, governance, payments, and creating decentralised applications. It supports over 40 blockchain protocols, including Polygon, Ethereum, BNB Smart Chain, Avalanche, and Polkadot.

Ankr’s Unique Features

Ankr’s one of the prominent projects in the Defi sector that is poised to decentralise the internet and contribute to the development of Web3. It distinguishes itself through a host of unique features:

Decentralised Cloud Infrastructure: Ankr’s standout feature lies in its commitment to decentralised cloud infrastructure. By harnessing resources from across the globe, it provides a distributed network that is resilient, cost-effective, and inherently decentralised.

Blockchain Integration: It integrates with various blockchain networks, allowing users to deploy and run nodes effortlessly. This integration extends support to blockchain protocols and enhances flexibility for developers and businesses.

User-Friendly Node Hosting: Ankr’s set to simplify the process of hosting blockchain nodes, making it accessible to experienced developers and newcomers. Its user-friendly interface and intuitive tools empower users to deploy nodes with ease.

Cost Efficiency: With a pay-as-you-go model, Ankr’s model ensures cost efficiency by allowing users to pay only for the resources they consume. This approach makes decentralised cloud computing accessible to a broader user base.

Security and Reliability: Ankr prioritises the security and reliability of its infrastructure. Through advanced encryption and redundancy measures, it offers a robust and trustworthy environment for hosting applications and services.

Liquid Staking: Liquid staking differs from traditional staking as it offers a more flexible approach. In traditional staking, users lock their assets in a smart contract to secure a network, and they earn rewards. 

However, their assets are illiquid and can’t be used. In contrast, liquid staking allows users to stake and earn tradable rewards.

Ankr’s Latest Updates

Ankr’s recently launched Rollup-as-a-Service support for zkSync Hyperchains on testnet. This enables developers to customise and deploy independent layer two chains for decentralised apps. Ankr’s the first to release this service.

Also, Ankr’s introduced Liquid Staking. This is a groundbreaking concept in the blockchain and DeFi space. When users stake, they receive a token representing their staked assets, such as ankrETH. It differs from traditional staking as it allows users to trade these tokens.

Who are the Founders of Ankr (ANKR)?

Ankr was founded in 2017 by two former college roommates from UC Berkeley, Chandler Song and Ryan Fang, along with Stanley Wu, a former Amazon computer engineer.

The Ankr team raised $18.7 million six days after their first token sale. The team conducted a presale of $15.9 million, and their open sale to the general public raised $2.75 million. In total, 3.5 billion of the 10 billion total tokens offered were distributed.

Read Also: What Is Ethereum: All you need to know – FXCryptoNews 

How is Ankr Secure?

Ankr, like many blockchain and decentralised platforms, incorporates several security measures to ensure the integrity and safety of its infrastructure. 

Decentralisation: Ankr’s decentralised model distributes its infrastructure across multiple nodes globally. This decentralisation minimises the risk of a single point of failure and enhances the platform’s overall resilience against potential attacks.

Consensus Mechanisms: Depending on the blockchain network Ankr integrates with, consensus mechanisms are crucial in securing transactions and data. Common mechanisms include Proof of Work (PoW), Proof of Stake (PoS), or variations like Delegated Proof of Stake (DPoS).

Data Encryption: Ankr employs advanced encryption techniques to secure data transmitted and stored on its platform. Encryption helps protect sensitive information and communications from unauthorised access.

Node Security: Ankr allows users to deploy and host blockchain nodes. Security practices for these nodes include isolation measures, access controls, and regular security updates to protect against potential vulnerabilities.

Regular Audits: Security audits are crucial to identifying and addressing potential vulnerabilities. Ankr may undergo regular security audits conducted by third-party cybersecurity firms to assess the robustness of its systems.

How Many ANKR are in Circulation?

ANKR, originating as an ERC-20 token in 2018, operates with a capped supply of 10 billion ANKR, establishing an inherent anti-inflationary feature. This characteristic positions ANKR as a potential long-term store of value.

During the COVID-19 pandemic, ANKR experienced its all-time low, plummeting to $0.0007111. Remarkably, nearly a year later, it reached its all-time high of $0.2252. This surge followed its listing on Coinbase and recognition as the top validator on the Binance Smart Chain.

With a Total Value Locked (TVL) of $71,705,425, ANKR currently trades at $0.03048. 

Where to Buy ANKR?

ANKR can be traded on several exchanges with ease. These include Binance, Coinbase, KuCoin, Kraken, Uniswap, Sushiswap and PancakeSwap.

Read Also: What is Pendle (PENDLE)? How to Buy and Use It 

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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