Categories
Cloud Ethereum

What is ANKR token used for?

Why would anyone need ANKR token? Ankr is a distributed network for cloud computing, for web3. Customers can deploy a full node in 1-click.

What is Ankr token?


ANKR is the utility token for the network and service.

Ankr token is used for


  • Pay for node deployment (You can also pay with USDT or credit card.)
  • Pay for app usage.
  • Stake to validate network

Why would value accrue to ANKR token?


Ankr charges some percent (e.g. 5 percent) of every deal in tokens.

When anyone buys cloud computing or deploys a node

  • Part of the fee paid to the resource provider,
  • Part of the fee paid to the Application provider,
  • Part of the fee paid to the company.

Potential value generation

  • 1-click full nodes without code on any blockchain
  • Decentralized cloud computing

Attract users/liquidity

  • Rewards for stakeholding
  • Rewards for stake consumption
  • Rewards for resources and services provision
  • Rewards for reputation

More on p. 19 22.

How does the token work?


Resource providers

Reward tokens are paid to them according to completed deals, reputation, earned fees, stake holding records etc.

Users

Rewards tokens are paid according to consumption history and stake-holding records.

Application suppliers

Reward tokens are paid to them according to completed deals, rating score, earned fees, stake holding records, etc.

Rewards (p.19)

What is Ankr?


A distributed network for cloud computing, focused on web 3.

  • Anyone who can provide 10 nodes can join as a cloud provider.
  • Users can deploy a full node on most blockchains in 1-click without any coding.

Mainnet


The mainnet uses a Proof of Service Level and Stake Byzantine Fault Tolerance (SLSBFT). A fork of Tendermint.

More about how it works can be found from p. 11 here.

A triple token model.

  • ERC20
  • Ankr mainnet
  • BEP-2 (Binance chain)

Whitepaper / Docs


Whitepaper

Triple token model

Total Supply


Total supply: 10 000 000 000

ANKR price


Crypto taxes

You really need to understand crypto taxes before you start trading. Koinly (affiliate) was the only service that solved our problem with crypto and DeFi tax. It's easy to use and you can try it for free.