What is Ankr (ANKR) Token? How To Buy ANKR In India?

What is Ankr (ANKR) Token?

The world of crypto and blockchain has evolved from just being a simple chain to multichain, DeFi’s, and now emerging Web3 applications. Multiple projects originated that claimed to offer the most scalable, reliant, and fastest Web3 platforms, Ankr is one among them which does not operate on a single network but an array of nodes distributed over 50 PoS networks. 

Ankr is a decentralized, cross-chain platform that enables DeFi staking and dApp development. It was designed to provide an era of new internet which is based on distributed ledger technology. The main purpose of the Ankr chain is to offer smooth access to Web3 applications and also increase the efficiency of the blockchain. 

Soon after the launch of the Ankr Mainnet, the developers further launched a staking protocol called Stkr that swaps aETH for every ETH staked. The network participants are also rewarded with aETH, while the users also built & deploy nodes, dApps and enjoy the perks of becoming stakers on the Aknr Web3 platform. 

Who Are the Founders of Ankr?

Ankr protocol was founded in 2017 by Chandler Song and Ryan Fang who are the Forbes 30 under 30 laureates. Soon after graduating from University of California, both the roommates began to work to build the most decentralized and scalable Web3 infrastructure. They were also accompanied by a former Amazon computer engineer, Stanley Wu.

Chandler Song was previously working with Amazon as an intern where-in Stanley Wu was his manager. A discussion on a paper on proof of useful work, further led to the creation of Ankr with Song as CEO, Fang as COO and Wu as CTO.

The ANKR, native token of the protocol was first introduced through a token sale wherein the team raised $18.7 million over six days. Further a presale was conducted which raised $15.9 million and $2.75 million in a sale which was open to the general public.

Along with this, the platform also raised tens of million dollars form leading industry giants like Pantera Capital, NEO Global Capital etc.

How Does Ankr Work?

Ankr protocol mainly focuses on building next-gen decentralized internet and to achieve, it mainly constitutes the 2 below mentioned functions.

Offering Node Infrastructure 

Ankr is a cross-chain platform that deals with e nodes of multiple platforms. It analyzes the limitations of the user who do not have resources to launch a node from scratch and participate in PoS validation. Therefore, allows access to dozens of blockchains like Tron, Kusama, etc to simplify the process.The platform also offers API’s to deploy decentralized apps and advance the adoption of web3.

Staking on Ankr

Moving ahead, Ankr also simplifies the onboarding process for the users by offering smooth staking on different blockchains. As mentioned before, the platform has launched StakeFi, specifically for staking ETH. The main attraction of the platform is one can stake as low as 0.5 ETH compared to 32 on ETH 2.0. 

What Makes Ankr Unique-Uses Cases?

• It supports the development of decentralization with enhanced security and more privacy
• Employing the Intel SGX which is the main component of the network, one can execute the dApps with the hardware system offering low-cost, efficient solutions for developers 
• The holders of ANKR can participate either by running their own nodes or stake by developing and deploying applications or by accessing enterprise and earn rewards
• The computational power is distributed to enable cost-effective operations 
• The network is secured through validator nodes which are selected in random based of level of service and positive contributions of the nodes

Ankr Price Analysis

Source: Tradingview

• Ankr price maintained a notable upswing since the beginning of 2023 and also made an attempt to reach the interim resistance 
• However, the market trends flipped due to which the price sliced through the lower trend line and reached the lower support levels
• Presently, the price is trying to spark a rebound but a drop in the trading volume could hinder the bullish action
• After a brief consolidation, the price may begin to rise high withstanding bearish pressures
• The ANKR price is believed to reach $0.03 in the first few days of February and maintain a notable upswing to achieve levels around $0.035

How to Buy Ankr in India?

Want to buy Ankr tokens in India, CoinDCX is the best-suited place. Being India’s leading crypto exchange, CoinDCX is also one of the best Bitcoin and crypto apps for beginners. To begin with, all you have to do is, 

• Download the CoinDCX App on your smartphone
• Enter the details required for registration
• Complete KYC
• Once your profile is verified, fund your CoinDCX wallet and buy ANKR

Read more: Latest Crypto News