In 2017, Ankr was birthed in a bid to utilize cloud computing power, dormant in data centers globally. The idea was to then reallocate this power to sponsor the mining of Bitcoin, the Internet of Things, node hosting, and many more. The team at Ankr didn’t take much time to grow and together, these brilliant minds went on to amass a worldwide supply of plain metal servers. This accumulation allowed Ankr to make services like API access and node hosting available. In the last two years, Ankr has since zeroed in on supplying fundamental structure for what we’ve come to know today as Web3.
As of writing, Ankr is a seamless channel for projects, Web3 developers, and protocols to connect to needed development resources and node infrastructure for designing apps for Web3.
When Ankr launched the first version of its network, it was in a centralized manner; and the network was developed to tackle the necessity of node set-ups in the Web3 space. Deep roots in centralization allowed Ankr to experience massive growth spurts, scale solutions and progressively create a valuable suite of characteristics.
But version 2 spearheaded a fresh momentum for Ankr. The new and improved version allows developers to pay as they utilize the network. This payment is to gain access to on-chain data. Also, stakers contribute Ankr tokens to whole nodes to split rewards and keep the network safe. Lastly, independent node providers on Ankr 2 serve blockchain requests to get ANKR tokens.
In creating RPC requests, users must engage the network and the three RPC consumer tiers are:
While requests can be freely made after the necessary cryptography and security measures have been taken, these requests are transferred first to the load balancer to guarantee traffic servicing by adequate nodes. This load balancer allocates the request to a hybrid structure of cloud and plain-metal servers.
What kind of tools and structures can developers enjoy on Ankr Network?
Well, for starters their API is as advanced as they come, allowing developers to:
Limit how much time they spend making requests
Limit how many requests they need to make
Save money and time with simultaneous multiple chain queries
Developers also get to enjoy free, community RPC Endpoints. The purpose of this community-owned, public RPC is to power Web3 apps to link with data on multiple blockchains.
My favorite part about the Ankr Network is their native token which has been boosted under the auspices of version 2. The token has risen to become the major center of the Ankr ecosystem, allowing Ankr to create a decentralized marketplace for Web3 infrastructure. ANKR is set to be at the core of it all and the governing structures in place are just as good.
Through the collective efforts of a driven community, the governance system of Ankr Network will be piloted. Why community governance? The reason is to ensure that the underpinning layer of Ankr’s tech stack is not just a lasting protocol but an open one as well.
There’s more to these already awesome aspects of Ankr Network. And one of them is the recently launched grant program, worth USD 10 million in Ankr tokens. This fund will go amply reward builders who generate value for Ankr DAO and bring Ankr closer to its objective of becoming the top set-up for Web3.
Moving forward, in the years to come, the team at Ankr already foresees a constant advancement of metaverse and Web3 and plans are in the works to introduce a broad range of technologies, devices, and connectivity forms to the market. These resources will, in turn, provide more interoperability and functionality unlike sandboxes and closed-loop systems which characterize the current state of Ankr’s tech stack as of writing.
To their credit, Ankr stands out from the competition by working with a service model that aligns with the core tenets of decentralization in Web3. The strongest selling point of Ankr Network, in general, is their strategy towards ensuring the healthy growth of Web3 and consistent improvements are being made to bring out only the best in the following facets of service: affordability, decentralization, reliability, global distribution, and finally low latency.