Constructing Web3’s Infrastructure with Ankr

By Aidan Kalish | Crescent City Capital Market Analyst Intern

With users and investors finding more reasons to utilize blockchains the need for cross-chain utility has grown. While this previously was a complicated task it is now significantly easier to accomplish with a developing Web 3.0 (Web3) ecosystem. Ankr is a large part of the development of Web3. Ankr is not a blockchain, it is a Web3 infrastructure provider made for users looking for a streamlined method of interacting with multiple blockchains.

Ankr Ecosystem

Ankr offers a suite of Web3 tools that help users, developers and applications access multiple blockchains through one decentralized platform. The Ankr protocol is comprised of independently run nodes all around the world that can be requested for data at any time. Nodes can be provided to the Ankr protocol by anyone with an incentive of being able to earn rewards by serving requests from blockchains. Setting up a blockchain node requires time, effort, and technical knowledge. If someone wants to deploy a node but lacks the skills needed to do so, Ankr can launch one that can be accessed remotely. This decentralized infrastructure benefits platforms, applications, and projects of all kinds since having a large quantity of high-performance independent nodes serving requests means that applications can receive faster, more scalable, and more affordable access to blockchains. Ankr also provides an Infrastructure-as-a-Service model for businesses and projects that do not want to set up and run their own nodes where they can pay to utilize the Ankr protocol’s decentralized node infrastructure. Users who want to stake or become validators on multiple different blockchains can also manage these processes with Ankr.

Ankr has its own utility token called ANKR. ANKR is an ERC-20 and BEP-20 token which means that it can be used in both the Ethereum and BNB Smart Chain ecosystems. The token can be used to pay for services on the Ankr protocol or remote access for a personal node. It can also be staked to secure the protocol and earn rewards as well as being used to vote with Ankr’s governance system. The uses of ANKR and the fact that it can be used in multiple ecosystems show that the token has a large amount of utility. At the time of writing ANKR has a market cap of $292.0 million and a fully diluted market cap of $357.7 million. The token began 2022 priced at $0.115 and has fallen to a current price of $.0.035.

Ankr has become one of the fastest-growing providers of decentralized infrastructure by including a range of services that will be useful to any kind of blockchain user. Since the protocol continues to be updated with new and improved services, Ankr will stay relevant and will likely grow as Web3 gains traction. There have already been a significant amount of opportunities that have presented themselves for Ankr as decentralized apps (DApps) which empower Web3 are growing in quantity and utility along with the need for cross-chain compatibility increasing. It has been suggested that through Peer-to-Peer (P2P) networks, blockchain technology could replace data centers in the future. Therefore, Ankr would have the potential to disrupt traditional cloud providers like Alphabet, Amazon, and Microsoft. It is important to note that this idea is theoretical, and the reader should conduct personal research on the subject before taking a proper stance. Investing in ANKR is a high-risk investment as its future price depends on the growth and application of Web3 but the token’s extremely low current price and large potential for growth could possibly warrant a smaller investment to help diversify a long-term portfolio.

Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. Please conduct your own due diligence before making any investment decisions.