The Ankr network aims to create a permissionless, efficient, scalable blockchain, which also has built-in capabilities for interacting with existing data solutions. Its consensus mechanism is called “Proof of useful work,” suggesting that the computing resources that provide the lock will be much more efficient than existing PoW schemes. Their new consensus protocol will allow them to engage in the Distributed Cloud Computing field. It is also notable to mention that they were one of the first to implement the Intel SGX trusted devices feature.
In short, ANRK network wants to change the inefficiency of existing POW blockchains and transfer all that computing power onto useful tasks. Secondly, they would like to create oracle services that will allow smooth integration of real business to the blockchain. Finally, as all new blockchains, they would like to improve the scalability of their blockchain through the introduction of plasma chain features. What I liked most is they do not aim to achieve superior numbers like 1m TPS, but only seek to implement features that would be necessary for their business.
The roadmap is rather short at this point. The project has already released their MVP and is preparing itself for the testnet launch in September of this year.
The total toke supply is 10 billion ANKR tokens. The use of proceeds is listed below:
- Team and advisors – 20% – lockup of 7 months and vesting up to 3 years
- Marketing -5%
- Private pre-sale – 30%
- Public sale – 5%
- Mining and community – 40%
Akr provides the following use cases for its tokens:
- It will serve as a payment instrument on the blockchain
- It will serve as a mining reward for renting computing power
- It will serve as a community reward incentive
The team is young and talented and is a part of UC Berkley Blockchain student group.
Chandler Song, Co-founder & CEO.He has diverse experience in different international companies like Didi (college intern for three months), SAP (4 months), Amazon as a software intern (4 months), and as CTO of CitySpade for five months (currently has 29 employees on LinkedIn).
Stanley Wu, Co-founder & CTO.He has strong technical skills and more than ten years of experience working for Amazon with a focus on large-scale cloud services.
Ryan Fang, Co-founder & COO.He had some experience with credit organizations like Credit Suisse, Morgan Stanley, China Renaissance and State Street.
Song Liu, Chief Security Engineer.Principal Engineer at Gigamon for just over two years, Senior Staff Engineer at Palo Alto Networks for two years, Network Security Expert. He has skills in TCP/IP/SSL firewall coding, C, and C++ programming, and large-scale distributed computing systems.
Christel Quek, Marketing Advisor— Based out of Singapore, advisor to Zilliqa and Switcheo Network, Founder of BOLT.
JZ Zhang, Technology Advisor— Distinguished Architect at Yahoo (over four years), Principal Engineer at Cisco (1 year), Microsoft (over three years), Blackberry and AT&T, Founder of PDX funded by Lenovo Capital. Member of Blockchain Research Group in National Internet Finance Association of China.
David P. Anderson, Technical advisor – American research scientist at the Space Sciences Laboratory at the University of California, Berkeley, and an Adjunct Professor of Computer Science at the University of Houston.
Investors and partners
The ANKR investors list is pretty impressive. Some of the more prominent investors are:
- NGC – investment fund of NEO
- Jlabs – blockchain division of Chinese private equity firm JD capital
- DHVC – well know early stage investment firm from the Silicon Valley.
Ankr is an exciting project. It provides exciting product features, focused on adoption and has the backing of serious players in the blockchain space. However, theis filled with competition, and it is hard to understand who will take the main market share at this point.
- Competition is rather fierce even in the blockchain space. We have projects like Golem, Sonm and upcoming projects like Hypernet and Perlin as well Dfinity and Oasis Labs.-2
- Relatively inexperienced team.-1.5
- A long-term roadmap is not there.-1.5
- PoUW is a new concept, so the implementation may face some difficulties.-1
- Token metrics and lockups of private sale round could be better.-2
- A talented and ambitious team from Berkley, backed by senior engineers and advisors.+1
- Usage of SGX chips to tap into unused computing resources may substantially decrease adoption phase.+1
- Innovative consensus protocol.+1
- Focus on niche industries first (specialization is better than global broad spread focus).+1
- Github repository has committed, especially on the plasma part. +1
- Hard cap and metrics are on the good side.+2
- Strong backers in terms of top investment firms in the crypto space.+2
- Part of the public sale is done through the physical token distribution (akin to Mainframe).+1
- MVP is present .+2
- Although most funds are raised through the private sale, it is still pretty decentralized (most parties got 200 eth).+1
- Hype is there (50,000 people on Telegram), and reviews are generally favorable.+2
Ankr has a decent hard cap and will probably be listed on a major exchange due to its hype and partner level. This can lead to a potentially good return in the short term, although lock up of private sale participants could be better.7 out of 10.
- Type: Utility
- Symbol: ANKR
- Platform: Native
- Crowdsale: Whitelist open
- Minimum Investment: around 400 USD
- Price: $0.0066
- Hard Cap: 17.8 M
- Payments Accepted: ETH
- Restrictions Barred from Participating: Residents of U.S / Canada / China / South Korean /Barbados & other FATF countries like Ethiopia, Iraq, Serbia, Syria, Trinidad and Tobago, Tunisia, Vanuatu, Yemen, Iran, North Korea are not able to participate
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