About Ankr (ANKR)
Ankr is an Ethereum-based decentralized protocol positioned as a Web3 infrastructure provider for entities of all sizes. It was founded in 2017 by two former UC Berkeley roommates, Chandler Song and Ryan Fang, together with former Amazon computer engineer Stanley Wu.
Ankr began as a distributed cloud computing network with the goal of efficiently utilizing excess cloud computing capacity from a network of idle machines, as opposed to using a single cloud platform or service provider. It was developed to simplify the process of and remove the barriers to entry for blockchain mining and other decentralized activities.
The ANKR platform was hacked for an estimated $5 million dollars early in December 2022. The platform later confirmed that the hack was done by a former employee who was no longer active with the company behind the protocol. The network compromise caused the platform to change its process and demand more thorough background checks on its employees.
On the platform, individuals can take advantage of crypto mining without the need for hardware and other costly equipment. Over 50 different proof-of-stake (PoS) networks have reportedly been established on the Ankr platform, allowing individuals to engage in staked mining.
Ankr’s native ERC-20 cryptocurrency, ANKR, is used as a payment token on the platform and is directly compatible with other ERC-20 tokens. Services that individuals leverage from the ecosystem are paid for with ANKR. ANKR price is updated and available in real time on Binance.