Ankr provides a comprehensive platform for blockchain development and infrastructure. With Ankr, builders can create new blockchains, decentralised applications (dApps), and Web3 projects of all types. Ankr’s blockchain infrastructure is foundational to the cryptocurrency industry as it currently serves trillions of transactions per year across dozens of networks while maintaining its status as the top provider for Polygon, BNB Smart Chain and Fantom, to name a few.
How does Ankr (ANKR) work?
The ANKR token is the native utility token for the Ankr network. It is used to facilitate transactions, make payments and for platform governance.
The ANKR token has significant utility as an essential token for Web3 development and use. The token is used as a critical incentive mechanism on multiple platforms and is responsible for facilitating a large portion of Web3 traffic. Here are some additional uses of the ANKR token:
- Neura: AI Blockchain Utility
The ANKR token will soon become the utility token for Neura, a blockchain revolutionising how AI startups operate. It serves as the universal currency for accessing GPU resources, participating in IMOs, and acquiring AI services. ANKR token rewards GPU providers, compensates AI developers, and acts as a payment token for using AI models deployed on Neura.
- Ultra Sound Infrastructure: DePIN Token Utility
ANKR is a utility token that decentralises Web3 infrastructure; it does this via the Decentralised Physical Infrastructure Network (DePIN) known as Ultra Sound Infrastructure. ANKR incentivises full node providers to opt into the network and serve transaction requests to an array of blockchains. By rewarding node providers in ANKR based on the traffic they serve, the token generates a much more robust and distributed physical infrastructure to serve Web3.
- Ankr RPC Service: Payment for Blockchain API Use
ANKR powers the Ankr infrastructure platform responsible for serving billions of daily RPC and API requests to dozens of supported blockchains. Ankr’s RPC service powers a large percentage of all Web3 traffic and transactions, and ANKR token is used by developers to pay for their dApps’ interactions with a variety of chains.
What makes ANKR unique?
Ankr stands out for its exceptional speed, notably through DePIN, alongside its user-friendly approach and comprehensive suite of Web3 development tools that actively aid in the growth of Web3 applications.
From its inception, Ankr has expanded its global network of nodes across over 50 Proof-of-Stake (PoS) networks, providing a diverse range of multi-chain tools for Web3 users and developers.
Ankr gained significant traction during the 2021 cryptocurrency bull market, when numerous projects and notable organisations collaborated with Ankr to leverage its Web3 infrastructure, including: Microsoft, Tencent, Messari, and Polygon.
Presently, Ankr’s infrastructure powers a vast array of decentralised applications (dApps) across decentralised finance (DeFi), gaming, data, scaling solutions, and exchanges. Noteworthy dApps such as SushiSwap and Chiliz are among those benefitting from Ankr’s offerings.
What is the ANKR price?
ANKR is an ERC-20 token. As the native utility token of the Ankr platform and the Neura blockchain, it is one of the key reasons that investors are interested in the Ankr network.
Examining the price history of ANKR can help to inform investment decisions:
| Year | 1st January | 30th June | 31st December | Percentage change |
|---|---|---|---|---|
| 2019 | – | $0.008 | $0.001 | -80.86% |
| 2020 | $0.002 | $0.003 | $0.008 | +146.08% |
| 2021 | $0.008 | $0.079 | $0.100 | +26.74% |
| 2022 | $0.100 | $0.028 | $0.015 | -44.22% |
| 2023 | $0.015 | $0.023 | $0.029 | +24.08% |
| 2024 | $0.029 | $0.031 | – | – |
Prices have been rounded to three decimal places. Past performance is not an indication of future results.
Source: Yahoo! Finance
Who created Ankr?
Ankr was founded in 2017 by Chandler Song and Ryan Fang, early participants in the Blockchain at Berkeley program. When Chandler met Stanley Wu, the third co-founder, together the three founders embarked on a mission to build a decentralised and scalable Web3 infrastructure.
Both Song and Fang are laureates of the Forbes 30 under 30 award and alumni of the University of California, Berkeley.
Final thoughts on investing in Ankr
The decision to invest in ANKR depends on your risk tolerance and general outlook on the future of Web3. Ankr’s developer platform provides a valuable service, and the ANKR token serves a purpose within its ecosystem.
However, it’s essential to remember that the cryptocurrency market remains highly volatile. Before investing in ANKR, carefully assess the potential rewards against the associated risks.
Use the eToro Academy to learn more about investing in cryptocurrencies.
FAQs
- Where can I buy ANKR?
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Investors can buy ANKR on a reputable exchange such as eToro.
- Can you stake ANKR tokens?
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Yes, ANKR is available for staking via the Ankr Staking platform. Staking to full nodes with ANKR supports Web3 infrastructure and facilitates decentralised applications’ interactions with blockchains.
- Is ANKR safe?
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ANKR is designed to provide secure and reliable blockchain infrastructure. The platform employs robust security measures to protect user data and ensure the integrity of blockchain operations, however, as with all cryptocurrencies, inherent risks are associated with investing in the project. Keeping your ANKR tokens secure with wallet storage and learning how to mitigate risk through a well-considered investment strategy is a great starting point.
This information is for educational purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any financial instruments.
This material has been prepared without regard to any particular investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Not all of the financial instruments and services referred to are offered by eToro and any references to past performance of a financial instrument, index, or a packaged investment product are not, and should not be taken as, a reliable indicator of future results.
eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this guide. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose.
Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.