Ankr Network ICO Review

Ankr Network

Ankr helps application devs to leverage blockchain and infrastructure.

Ankr Network Score



Ankr ICO aims to build a resource efficient blockchain framework that enables distributed cloud computing and provides user-friendly infrastructure for business applications. Its blockchain infrastructure will be based on Proof-of-Useful-Work (PoUW) consensus on an SGX-enabled trusted execution environment (TEE). Distributed Cloud Computing on Trusted Hardware. Ankr provides a computation-resource-efficient blockchain and an integrated data feed system leveraging both cryptographic primitives and trusted hardware. Ankr ICO seeks to tap into idle computing resources using trusted hardware, enabling decentralised cloud computing (DCC). Some of the issues they seek to resolve includes:

  • Waste of power consumption using PoW consensus
  • Lack of trusted oracle services that connect existing business to the blockchain
  • Scalability issues such as low Transaction per Second (TPS) and overcrowded blockchains

LINKS

WEBSITE WHITEPAPERS

SOCIAL MEDIA

REVIEW VIDEO

review video

TOKEN SALES

METRICS

Green lights

  • Neo Global Capital (NGC), KOSMOS and GBIC are investors.
  • Oracle services are a good thing for mainstream adoption.
  • Mining projects has given good ROI traditionally.
  • Building up in the community.

red flags

  • Founding members don’t have a lot of blockchain experience.
  • No whitepaper yet. (at the time of writing)
  • Unknown metrics. (at the time of writing)
  • No MVP or testnet- ETA JULY for a prototype.
  • Mainnet date not given in the roadmap.
  • Currently uncertain degree of business development in regards to Ankr Network. Ankr will require a number of traditional clients that will buy their distributed computing power. 
  • Project seems to be quite unplanned, short roadmap. Only until current day. Could indicate a legal exit scam. Lack of milestones.
  • Certain key members of the team, including the CEO and COO, are fresh out of college and have limited working experience. 
  • Massive sell orders on the OTC market.
  • Code Review came out as neutral to negative.

.

Full overview

Proof of Useful Work (PoUW) Consensus Protocol

PoUW consensus allows a blockchain to achieve security without wasting energy. A SGX-protected hardware enclave provides a TEE to testify miners’ useful computations and providing proof for mining rewards.

The use of SGX CPU mining also reduces the threshold of entry for miners and ensures security and confidentiality.

Unlike other popular proof-of-work blockchains like Bitcoin and Ethereum, Ankr rewards every user for contributing his computing resources, not just the one that first solves the block.

Distributed Cloud Computing (DCC) Platform

DCC platform allows transacting for computing power between users in a peer-to-peer fashion.

With the PoUW consensus mechanism, miners will use their idle computing resources to secure the network while performing useful computation, for example, machine learning, artificial intelligence, and so on.

The miners create the supply for the DCC platform. Individuals/companies that need extra computing resources would form the demand side of the DCC. DCC lowers the barrier of entry to cloud computing comparing to the existing cloud computing services.

Oracle Service

Ankr introduces an authenticated data feed system using trusted hardware. The system is comprised of 3 components – smart contact, enclave, and the relay.

Multi-Chain Structure

Ankr aims to scale the blockchain by implementing Plasma and sharding. The network consists of a tree structure of blockchains where various application chains (Child Chains) are connected to a single root chain (Main Chain).

The Main Chain is used for child chain indexing, useful work mining and smart contract executions. Each child chain is tailored to the needs of a specific application. For example, real estate transactions are of high value but low volume, whereas e-commerce transactions are the other way around.

Ankr Network
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Medium

 

  • Christel is the only all star advisor.
  • Ramsey Hanna at Reed Smith
  • Jiangang Zhang, Founder of PDX
  • Christel Quek, Founder of BOLT.

TEAM SCORE

Unknown

 

  • Co-founders don’t have a big background in blockchain but there are team members with blockchain experience.
  • Team is quite young, with several of the members out of collage. Does not need to be a bad thing, but limits connections. 
  • Co Founder was tech lead at Amazon.

HYPE SCORE

High

 

  • Ankr has very high hype right now in the community.
  • One of the most hyped icos.

TOKEN SCORE

Medium - High

  • Hardcap of 18M was reached, decent size for project. 
  • 35% sold indicates low circulating supply, usually good for short term investment strategies.
  • Token Usecase is strong, as it involves mining. Usually a positive sign for short term and long term investments.
  • Ankr will burn all unsold tokens.

TEAM

Chandler Song

Co-founder & CEO

Stanley Wu

Co-founder & CTO

Ryan Fang

Co-founder & COO

Song Liu

, Chief Security Engineer

CONCLUSION

Ankr may look weak now with no whitepaper (time of writing), prototype and founding members being young, but Ankr is a project that can give great ROI. They have also locked their pre-sale investors tokens quite stringently which will avoid the initial dumps.

Ankr will most definitely be one of the hyped ICOs in Q3 2018 and will hopefullygive you good returns if you get on the public sale.

6.4

ADVISOR

5

TEAM

8

HYPE

6.9

TOKEN

highspeed

CATEGORY

All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).

ICO DOG

NO MORE BS REVIEWS.

ICO Dog is a curated directory of the best crypto news resources.
We’re transforming crypto reviews to it’s best!

ICO DOG

NO MORE BULLSHIT REVIEWS.

ICO Dog is a curated directory of the best crypto news resources.
We’re transforming crypto reviews to it’s best!.

ICO DOG

NO MORE BULLSHIT REVIEWS.

ICO Dog is a curated directory of the best crypto news resources.
We’re transforming crypto reviews to it’s best!.