The Ankr blockchain creates a resource-efficient mechanism to support Distributed Cloud Computing. Conceptualised as Proof of Useful Work (PoUW), the ANKR token is paid to miners who secure the network, propagate blocks, and complete useful compute work for enterprises and consumers. In essence, Ankr incentivises idle computing resources to support Web3 infrastructure.
The ANKR token is used to participate in governance, acts as insurance, and as payment for services on the network. Ultimately, this lets users deploy blockchain nodes at a lower cost than centralised cloud providers. The Ankr Network was founded in 2017 by former Amazon Web Services engineer, Chandler Song, and former Morgan Stanley investment banker, Ryan Fang.
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