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What is Ankr?

ANKR | 03.21| 150

Infographics Series Part 1: Introduction to Ankr

TLDR

  • Ankr is building a marketplace for container based cloud services using shared resources.
  • Ankr will provide developers and enterprise clients with the ability to easily deploy blockchain nodes at a cheaper price than public cloud providers.
  • Hosting blockchain nodes on Ankr takes away centralization issues and single point of failure.
  • Using Ankr’s solutions, public blockchains are able to engage their communities and rapidly secure and decentralize their networks.

How Ankr evolved in less than two years

A lot has happened since we have started the Ankr project back in 2018 and we believe that after some carefully thought through twists and turns, things have shaped up quite nicely into a market ready product with real world usage.

In the early days of the project we designed everything conceptually, based on ideas and research papers and composed very much from a computer scientist perspective. We envisioned a distributed cloud resource platform where idle compute power could be accessed through a marketplace where supply and demand meet each other, resulting in a win-win situation for both resource providers and end-users.

The Ankr Distributed Cloud Computing Network (DCCN) started as a concept based on an initial whitepaper, but would eventually need to attract both providers to power the platform and end-users to utilize the services.

As we gradually started to implement more and more features to our platform, it was apparent that pragmatism and common business sense would need to prevail if we were to build a platform that would attract both cloud users and large scale resource providers. We needed to provide an attractive solution for a real problem.

We therefore adapted our initially proposed technical solutions to fit something more engaging, scalable and economically viable, which offers a solution for a problem many blockchain projects struggle with: the promise of decentralization!

Use case: blockchain node hosting

In our daily operations we come across many decision makers of blockchain projects and discovered that many of these decentralized networks are actually highly centralized, as the majority of the nodes usually are run by the projects themselves on centralized public cloud providers, such as Amazon AWS and Google Cloud, which is not only very expensive but also makes them subject to single point of failure.

Community members struggle to run nodes and contribute to their favorite blockchain projects as setting up the node on a public cloud server is usually very costly and hard to set up.

We learned that Ethereum, one of the most decentralized networks out there, still has 60% of their nodes hosted on the top 10 public clouds, while 34% of these nodes are hosted on centralized servers in the US? And we know for a fact that most other public blockchains out there have even higher rates of centralization, despite the fact that they are aiming for autonomous and decentralized networks.

In addition to the above mentioned issues, aspiring blockchain node hosts are usually held back by the high pricing and poor user experience of existing cloud services. Current cloud services and their support teams are not very blockchain-friendly, and it might require a lot of time and knowledge to configure and manage a blockchain node.

Our solution takes away these struggles and facilitates blockchain adoption to a broader crowd. How? We provide blockchain projects and their communities with easy and affordable solutions to run their nodes, through tailor made solutions for enterprise clients and easy to use applications which can be accessed by consumers in our node market app.ankr.com.

In short, we realized our investors would rather be backing a lucrative, practical business than a computer science project. We never got wedded to our initial ideas; the most important thing is to always be prepared to adapt and change direction if it is clearly the best approach.

Ankr Infographic Series Part 1–5

In the following 4 articles we dive deeper into the various aspects of our solution:

  • Part 2: Resource Providers
  • Part 3: Ankr Blockchain and Token
  • Part 4: Ankr Cloud Platform
  • Part 5: Node Hosting as-a-Service

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What is Ankr? was originally published in Ankr on Medium, where people are continuing the conversation by highlighting and responding to this story.

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