Ankr provides a computation-resource-efficient blockchain and an integrated data feed system leveraging both cryptographic primitives and trusted hardware. Let’s see how it works.

1. General Information

Website: https://www.ankr.network/

Token metrics: TBA



Ticker: ANKR

Hardcap: 17,800,000 USD

Token Type: ERC-20

Bonus structure: 20% discount during presale

Private sale / whitelist: TBA

Community:

Telegram: 32939 followers

2. What is ANKR?

Ankr aims to build a resource efficient blockchain framework that enables distributed cloud computing and provides user-friendly infrastructure for business applications.

Ankr is believed to bridge the gap between the real world and the blockchain. The Ankr's permissionless blockchain framework can support an ecosystem of decentralized autonomous applications. ANKR team believe that these applications include global P2P payment system, personal credit system, and most importantly, tokenization of real-world assets that were once illiquid (sublease rental contract, real estate ownership, art piece, wine, etc.).

3. Technology

ANKR starts with a bunch of novel technology including:

- Resource-efficient mining scheme based on Proof of Useful Work (PoUW) Consensus Protocol

- Seamless interface oracle service connecting real-world data of existing Internet solutions to on-chain entities.

- Distributed Cloud Computing (DCC) Platform

- Multi-chain structure through Plasma sidechains and sharding supporting consortiums

Proof of useful work: PoUW consensus enables a self-sustainable blockchain framework. Instead of wasting electricity and computing power on hashes like Bitcoin does. Besides, PoUW uses these resources towards useful work tasks provided by enterprises and consumers.

Ankr will make use of all of the rest computing resource on global. The miner will not only initiatively mine token but also rent CPU to mine. In another word, miners will get profit from mining and lending their CPU.

SGX (Software Guard Extensions): The protocol runs on SGX-enabled CPUs with remote attestation to ensure security and confidentiality. The novel PoUW approach unlocks the massive potential of idle computing power around the world by providing enough incentives: in this scheme, every computation contributor gets compensated, and some will get the extra reward for generating the blocks. In the future, this mining scheme can promote Universal Basic Income (UBI).

Oracle Service: The integrated Oracle service provides authenticated data resource by leveraging both cryptographic primitives and a trusted execution environment (TEE). Through a standardized API and port data from existing Web sites, Oracle service simplifies real-world businesses.

Distributed Cloud Computing (DCC) Platform:

DCC platform allows transacting for computing power between users in a peer-to-peer fashion. With the PoUW consensus mechanism, miners will use their idle computing resources to secure the network while performing useful computation, for example, machine learning, artificial intelligence, and so on. The miners create the supply for the DCC platform. Individuals/companies that need extra computing resources would form the demand side of the DCC. DCC lowers the barrier of entry to cloud computing comparing to the existing cloud computing services.



Multi-chain structure: Plasma multi-string implementations allow different applications to handle their own smart contract on the individual side chains, prevent overloading transactions on the main chain based on PoUW. The main chain will provide a native authenticated data feed service for off-chain data to relay to each child chain. Existing business can build decentralized autonomous applications on the child chain with powerful computing power and native data feed service provided by the main chain.

4. Roadmap

- Q4, 2017: The idea of the project was conceived

- April, 2018: Proof of Concept is released.

- May, 2018: Private sale

- June, 2018: Whitepaper is released.

- July, 2018: Prototype is released.

5. Team

Ankr Network is based in California, USA and currently has a team of about 15 people. The biographies of the key team members are summarized below:

Chandler Song

Co-Founder & CEO

Chandler Song has experience in research and software engineer.

Previously, he worked as developer at some famous agencies like Blockchain at Berkely, Amazon, SAP and CTO.

Rahim Noorani

Business Development

Prevously, He was founder of Limel MIT Invent Team and Director of Industry Relation at Hult Prize at UC Berkeley. He also worked as investment analyst at some famous agencies like Signia Venture Partners, Momentum Partners, Bessemer venture Partners,...As a result, his experience about project analyzing is quite good.

Song Liu

Chef security engineer

He has nearly 7- years- experience about technology engineer. Previously, he worked as a developer at Electronic Art, General Electric, Palo Alto Networks,...So that he is good enough to cover this position.

Ryan Fang

Co-Founder

He had certain experience in analyzing. Previously, he worked as analyst and consultant at Credit Suisse, Morgan Stanley, Capgermini Consulting.

Stanley Wu

Co-Founder

Stanley W was well- experienced in software engineer. Previously, he has worked as a software developer and tech lead at Amazon for 10 years, which makes him appropriate for this position.

6. Investors

There are many enterprises listed as strategic investors of Ankr namely JLab, NEO Global Capital, DHVC, OK Blockchain Capital, LinkVC, GBIC, BlockVC, and Kosmos. They are big capitals and famous projects having dramatical influences in cryptocurency market

7. Research Partners

There are some famous enterprises listed as Ankr’s research partners include:

- Blockchain at Berkeley: a non-profit organization involved in blockchain tech-consulting, education and research at UC Berkeley.

- Dorahacks: a global hackathon organizer and hacker organization founded in 2014, with support from Open Wisdom Lab at Tsinghua University.

- CPC: (finding)

8. Verdict

Ankr has a high market awareness with a reasonable hard cap (nearly 16 million dollar). In terms of technology, this is a potential project that is trying to tackle multiple big problems facing blockchain using consensus protocol (PoUW), trusted hardware, data feed (Oracle), distributed computing, and sidechain structure. If successful, the upside can be substantial. According to some developers’ point of view, the possibility of the project becoming reality is high. Therefore, it will become a very big project in the world of cryptocurrency if it is applied. Moreover, the project has received strong backings from various reputable institutional investors. In terms of Ankr’s team, most of Ankr’s members are good enough to take responsibility for their position. However some of them are too young, even not graduating from university, they have limited working experience. Besides, the whitepaper and the MVP haven’t released yet, hence this project now is just the idea. It is advised that you should be careful before making your own decision. If you don’t mind risk, you can be one of the first contributors from its primitive. If you are more careful, you should wait for more details of Ankr like MVP, whitepaper before investing in this project.

Rate from Icogens.com:

HYPE RISK ROI TERM ICOGENS' SCORE HIGH MEDIUM HIGH MEDIUM VERY HIGH

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*Note: All the information (on icogens.com) including tokens sales, “interest level”, ROI rate, hype rate, risk rate are our subjective opinion and only for informational and educational purposes. The information ICO Gens provides is not an investment advice.

HYPE: is defined as the level of concern over a project and its FOMO. This score is based on the number of people joining a project’s social channels such as Reddit, Telegram, Twitter, Facebook, Bitcointalk, Medium or Slack as well as the number of review articles produced by the third party.

RISK: the risk rate of the project. Based on this score, you can find more spam warnings of the project. More specifically, RISK is about the transparency of the project, its idea, members of the development team, roadmap and whitepaper. (RISK is rated regardless ROI rate of the project).

ROI: (Return on Investment): the rate of profit a project can bring to investors (ROI is considered separately from RISK. ROI can be rated High and RISK can be rated High as well).

TERM: this factor reveals the length of time you should hold token or coin of a project. The period of time can be Short, Medium or Long.

ICOGENS’ SCORE: this score can be decided by scores of four other scores or it will reflect the level of interest ICOGENS’ team has in the project. This score is separated from ROI score. It just shows how much Icogens core team concern the project.

You are reading [ICO REVIEW] What is Ankr? A Potential Project with a computation- resource- efficient blockchain?, from ARTICLES.

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