ANKR provides a decentralized blockchain infrastructure. It was designed about six years ago in the year 2017 to provide distributed cloud computing services. Over time the company shifted from cloud computing to node hosting and blockchain deployment solutions.
Crypto News: It has been a great start to the year for cryptocurrencies. The valuation of some of the top 100 cryptos doubled and even tripled. While some crypto reached all-time highs. One such crypto coin is ANKR which is the cryptocurrency of the ANKR protocol. This year in 2023 it has strengthened by about 205 percent and 37.93 percent in 24 hours. One ANKR is currently available for $ 0.04685 (Rs 3.88) (the rate at the time of writing the news). Let us know here what is ANKR and why is there such a boom in its native token.
What is ANKR and how does it work?
ANKR is based in San Francisco. It provides a decentralized blockchain infrastructure. It was designed about six years ago in the year 2017 by Chandler Song, Ryan Fang, and Stanley Wu to provide distributed cloud computing services. Usually, cloud computing solutions work on centralized servers but ANKR harnessed the computing power of a network of machines spread across the globe. Over time the company shifted from cloud computing to node hosting and blockchain deployment solutions.
With ANKR’s Node Hosting Solution, even if users have no knowledge of this field, they can send their nodes between dozens of Proof of Stake (PoS) blockchains and receive their PoS tokens. ANKR will do all the technical work like setup and maintenance of nodes and users will get stake awards without any technical knowledge.
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Apart from node hosting services, ANKR also provides some blockchain deployment solutions. It also provides SDKs, APIs, and some other plug-and-play solutions that help developers build robust blockchains quickly. Apart from this, the platform also provides services of liquid staking solutions and multichain blockchain scanners.
ANKR’s native cryptocurrency is ANKR, which is used to access services on the network and also pay monthly fees for node hosting solutions. When the ANKR community and its development team submit a proposal, users can vote on the proposal according to the weighting of the ANKR tokens they hold.
Why is ANKR booming
Microsoft previously had its own blockchain but in May 2021, the company shut down the Azure Blockchain Service without any official explanation. After this, in December 2022, the company banned the mining of crypto on its cloud services. The company took this decision to avoid threats like cyber fraud, attacks, and unauthorized access to customer resources. Now a day ago on 21st February ANKR announced a partnership with Microsoft which has made the atmosphere positive.
Many companies are looking to use blockchain technology for their business and ANKR can capitalize on this opportunity through its partnership with Microsoft. Under this partnership, ANKR will provide blockchain infrastructure and expertise while Microsoft will offer these services through its Azure Marketplace. In this way, like the rest of the cloud service, you will be able to buy node hosting infrastructure. ANKR’s technology allows developers to focus solely on building their applications and saves time on scalability issues.
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