Ankr Network (ANKR)

Staking and Rewards

ANKR tokens are used for staking, allowing users to earn rewards by locking their tokens to support the network.

Governance

Token holders can vote on proposals that affect the development and rules of the Ankr Network.

Payment for Services

ANKR is used to pay for accessing services on the Ankr Network, such as deploying decentralized applications (dApps) and protocols.

Decentralized Cloud Computing

Ankr Network leverages idle computing power from devices and data centers, and ANKR tokens facilitate transactions within this decentralized cloud platform.

Node Operation and Web3 Access

Node operators earn ANKR by providing blockchain data and services, while developers use ANKR to connect their apps to multiple blockchains efficiently.

Pros

• Decentralized Cloud Computing: Ankr Network uses idle computing power from devices and data centers, making cloud services more affordable and accessible.
• Proof of Useful Work (PoUW): This consensus method helps secure the network while unlocking computing resources efficiently.
• Easy Staking: Users can stake tokens easily with one-click node hosting, earning rewards without complex setups.
• Scalability: Uses sharding and plasma side-chains to improve speed and handle more transactions without slowing down.
• Versatile Services: Provides APIs and RPC access for developers to build decentralized apps (DApps) more easily.
• Reputation System: Only reliable nodes are selected to verify transactions, improving network quality and trust.
• Cost-Effective: Offers cheaper alternatives to traditional cloud computing providers.

Cons

• Not Mineable: ANKR tokens cannot be mined, which may limit some user engagement methods.
• Competition: Faces strong competition from other decentralized cloud and blockchain infrastructure projects.
• Complex Technology: Some features like PoUW and plasma side-chains may be hard to understand for beginners.
• Dependence on Node Operators: Network quality depends on active and honest node operators, which can vary.

For more details, visit the official Ankr Network website.

Founders of Ankr Network

• Chandler Song: Co-founder and CEO, with a background in engineering at Amazon Web Services and a degree from UC Berkeley.
• Ryan Fang: Co-founder and COO, formerly an investment banker at Morgan Stanley.
• Stanley Wu: Co-founder and CTO, with experience as a technology lead at Amazon.

They started Ankr Network in 2017 with the goal of using idle computing power from data centers to build a decentralized cloud computing platform.

Investors in Ankr Network

Ankr Network has received investments from a variety of venture capital firms and investment groups. Some notable investors include:

• 100&100 Venture Capital
• BlackDragon (Zagreb)
• Block54 Capital
• DeltaHub Capital
• Drops Ventures

These are part of a larger group of around 30 investors who have supported Ankr Network's growth and development.

Halal Status of Ankr Network

Yes, Ankr Network is generally considered halal because it operates as a utility token supporting blockchain infrastructure and staking services. The rewards come from network validation, which is seen as payment for a service rather than interest or gambling.

Reasoning

• The token is used for legitimate technical services like node deployment and staking.
• Staking rewards are payments for securing the network, which aligns with halal principles.
• The business model is transparent and focuses on providing infrastructure rather than speculative gains.

For more detailed analysis, you can visit sites like Practical Islamic Finance or Sharlife that provide halal reports on crypto tokens.