Ankr ICO Review — Slick ICO Reviews

ANKR Network

Disclaimer:

This is not in any way professional advice, and is solely based on our own opinion resulting from the resources we have researched from, and hence, should not be relied upon as an advice to invest, or not invest in the network.

Below are the components of the analysis, explained:

1) Concept/including the whitepaper: The score for concept ranges from a maximum of 3 for an excellent concept to a score of zero for a poor concept.

2) Whether the company has a Minimum Viable Product (MVP)? On MVP a score of 2 for the ICO having an MVP, 1 for a Beta and zero for no MVP.

3) What is the sentiment like on social mentions, this is not the hype, but we analyze the strength of comments if any; across all their social media platforms, positive sentiments, and negative sentiments. Passion of the comments and the reach of social mentions. This is carried out using google algorithm. For social mentions a maximum of 1 point with lowest of zero.

4) The team: On the team, an excellent team gets a score of 3, a good team gets a score of 1, and poor team gets a score of zero.

5) The road map: An excellent and achievable road map gets a score of 1; a good road map gets a score of 0.5; and a poor road map gets a score of zero.

6) Token economics: Finally, the score of token economics ranges from 1 for an excellent; to zero for a poor token economics.

The maximum score that any ICO could receive is 10; whilst the lowest is zero.

Please note that we are no experts (in the ICO space by any means) and the scoring matrix is just our opinion. Kindly do your own research before contributing to any ICO.

In our opinion a project that scores 7 and above is worth analyzing a bit more; if we feel we are interested in contributing to it. A score between 4 and 6 would require a lot more convincing; for us to invest; and a score below 4 is an easy pass.

Ankr network endeavors to build a system that is resource efficient, and enables the integration of trusted hardware with blockchain, to allow Distributed Cloud Computing (DCC) with user-friendly infrastructure for businesses.

1. Concept

Ankr network’s use of trusted hardware, in order to enable DCC, provides greater security, as data is protected from malicious acts or modifications, by running the protocol on Intel SGX (Software Guard Extensions) based CPUs. The network aims to incentivize people to contribute their computing resources by rewarding them; this also allows for computing power which was not being used previously, to be used and leveraged. Ankr network uses Proof of Useful Work (PoUW) consensus algorithm, which allows for resources to be used for useful tasks by businesses and consumers, instead of it being largely consumed by hashing. Contributors are not only incentivized by getting rewards in exchange for the computing resources, but may also earn extra reward for block generation.

Ankr’s Oracle Service allows for data to be used from existing websites through systematized Application Programming Interface (API), making the most out of cryptography and trusted execution environment (TEE), to provide users with authenticated data; stored, protected, and processed in a trusted environment.

The Multi-Chain Plasma being implemented allows businesses and individuals to handle specific applications on individual side chains, so that the main PoUW based chain is not overworked, while the main chain continues to transfer authenticated off-chain data to these side chains. This can allow businesses to leverage computing power and data, and run decentralized autonomous applications on the side chains.

Ankr network provides innovative solutions for security, speed, and scalability, while ensuring that the data on the platform is always reliable, and that all the available computing power is being leveraged. Ankr network gets a score of 3, for a great concept.

2. Minimum Viable Product (MVP)

Ankr network does not yet have a minimum viable product. However, they are intending to launch their test net in September 2018. Ankr network gets a score of 0, for having no MVP.

3. Social Mentions

For social mentions, Google algorithm was used, according to which Ankr network’s influence has been growing, with largely positive sentiments about the project. Ankr network gets a score of 0.5 for social mentions.

4. Team

Co-founder and CEO, Chandler Song, has been a part of reputable corporations, including Amazon, and is a skilled entrepreneur. Another Co-founder, Stanley Wu, has been Tech Lead at Amazon, and has 10+ years of experience in the field. The System Architect Yan Xiu also has extensive experience in the field, and has been a Senior Software Engineer at Hitachi, while also being associated with multiple other prestigious companies. The rest of the team members are also highly skilled and have been associated with the likes of Uber, IBM, etc. The team represents the network as promising, where consumers can expect to benefit from their skills and efforts. For the team, Ankr network gets a score of 3.

5. Roadmap

In my opinion, the roadmap appears to be rather vague and incomplete. It does not expand further on the network’s plan, after their test net launch in September 2018, and creates more questions as to when and how the network will progress to deliver the promised protocol. For the roadmap, Ankr network gets a score of 0.

6. Token Economics

The protocol’s native token is ANKR, used for storage and transfer of value on the network. They function as computation fees for PoUW, and participants are incentivized to contribute more and more computation power, as the greater the computation resources are contributed, the greater will be the rewards earned. This assists the network in growing and utilizing maximum computational power, and remain resource efficient. For the token economics, the Ankr network gets a score of 0.5.

Conclusion

Ankr network gets a great total score of 7, largely because of the concept, and the team. The use of trusted hardware to make the protocol more secure, and the implementation of the oracle system to make the network more reliable, as well as the innovation of multi-chain plasma to enhance speed and scalability, will result in a robust platform for Distributed Cloud Computation, helping businesses to make the most out of this technology.

Since, we are not the experts in the field, it is advisable for investors, or any other participants in the network to do their own research.

Please give us a few claps if you liked this Slick ICO review, follow for regular ICO reviews and analysis that are short and to the point. Happy investing.

ssk4321 (cryptogator)

Written by

Researching and writing (non crypto) whitepapers is my day job. Been in crypto since Mid 2017. I analyze and write on ICOs when I’m not working.

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