What is ANKR?

ANKR provides cross-chain blockchain technology featuring a DeFi platform for stakes and decentralized applications development. It is a home for several protocols related to developing decentralized apps and the DeFi sector.

Its purpose is to establish a new internet based on distributed ledger technology, allowing it to manage decentralized, secure, and private applications.

As a result, it eliminates the need for intermediaries and central authorities, allowing users and network participants to own and control data and applications.

Following the ANKR Mainnet in 2019, the developer team launched Stkr, a stake-based protocol. It offers users the chance to stake Ethereum in exchange for aETH, in which future gains depend on their stake balance.

The Stkr protocol encourages network growth by rewarding staking in this way. It is also possible for users to build decentralized applications on the network or set up stake nodes to take advantage of the benefits of participating in the ANKR Web3 platform.

It is possible to store this token in any Ethereum wallet. Which wallet to choose will depend on your usage and the amount you intend to keep. Hardware or cold wallet is the most secure method for storing cryptocurrencies.

The downside is that they require a higher level of technical expertise and have a higher cost. Consequently, they are ideal for storing large amounts of ANKR by experienced users.

Who Created ANKR?

Chandler Song, the company’s CEO and co-founder, founded ANKR in 2017. Within a short time since its creation, it has evolved into a global community of professionals creating Web3 infrastructure.

It consists of people from 16 countries working together to decentralize the web and make it easier to access Web3 apps.

Currently,  offers more than 40 protocols for building and staking, and it continues to grow into a decentralized global network that facilitates access to Web3.

How Does ANKR Work?

ANKR facilitates decentralized applications and staked nodes by delivering low-cost data resources through its distributed ledger technology-based data centers.

As a result, stakeholders and developers have no problems creating and deploying dApps and staking their funds. The Stkr protocol supports ANKR staking, launched in 2020, which allows users to stake ETH for aETH. 

ANKR is the network’s native token and has a variety of utility functions, including payment, network access, and stake functions.

In the coming years, the platform plans to support more blockchain protocols to improve Web3, a decentralized internet with higher privacy and security. It enables cross-chain development and connects blockchain nodes in distributed networks.

The system is one of the early contributors to web 3.0, providing accurate and trustworthy integration. Using this platform, crypto enthusiasts can deploy nodes with one click and access API services and significant blockchains.

Is ANKR a Good Investment?

ANKR adds significant value to the decentralized finance sector, making it an attractive investment in the long term. ANKR token staking can also provide network participants with returns.

However, there is considerable volatility in the market, which can cause its value to change rapidly based on trends and a few other factors.

Cryptocurrencies have proved to be considerably more volatile than conventional financial markets, resulting in abrupt fluctuations in the value of digital assets.

However, unlike a traditional coin, there is no way to mine ANKR, even though it runs on the same Proof of Work protocol similar to the Ethereum system.