Ankr (ANKR)

The exchange rate of one ANKR at 15:45 UTC is 0.04362$

Chart | Average rate

The “Ankr” network was created to implement a new blockchain solution that harnesses the idle computing power of devices and data centers.

This platform provides a sharing economy where consumers can access cloud resources at a much lower cost and businesses can monetize spare computing power.

Ankr's goal is to truly unleash the potential of distributed cloud computing by embedding computing power on the blockchain. This is achieved through the proof-of-useful-work (PoUW) consensus mechanism, where those who secure the network and facilitate block propagation can unlock significant computing resources.

Ankr is one of the new approaches in the blockchain space of distributed cloud computing.

Even though the distributed cloud computing space is quite a competitive environment, there is still room for the unique methodology applied by Ankr. The ever-growing amount of data and information available requires a secure platform for data processing and storage, and Ankr is committed to fulfilling this role.

Ankr's network model offers great promise as it uses the traditional blockchain architecture but improves on the consensus mechanism and incentive system.

To ensure that only good contributors are selected as review nodes, Ankr uses a reputation-based system that filters contributors based on a node's contribution. For a fair distribution among the participants with their different computing resources, a performance test is used.

When it comes to off-chain data and processing, there is Native Oracle System (NOS) that handles the transfer between on-chain smart contracts and off-chain data. NOS is secure and requires authentication to improve security.

Data sources are properly secured as the platform supports all levels of security from no encryption to TLS 1.2/1.3 and Perfect Forward Secret (PFS).

The platform was launched on July 10, 2019. The founder of the company is Chandler Song. He graduated from the University of California at Berkeley with a degree in Electrical and Computer Science. He is the CEO of Ankr and has several years of Amazon experience prior to founding Ankr. He was an early adopter of bitcoin and led the development of “CitySpade” P2P brokerage startup in New York.

The second founding member of the Ankr network is Stanley Wu, who spent ten years at Amazon as a technology lead before helping found Ankr. He was one of the original engineers at Amazon Web Services, joining them in 2008, giving him deep knowledge of cloud computing.

Ankr definitely has a chance to disrupt the current cloud computing industry. It has several advantages, including a young, talented team and several important partnerships.