ICO Review: AnkR Network | Distributed Cloud Computing

by birtanpublished on October 3, 2020

hey guys welcome back today I want to do something a little bit different and talk about an ICL I'm testing the waters to see how I like reviewing an ICO and to see if you guys would like this kind of content and I figure maybe if it's something that works out it could be something that I continue to do in the future quick shout-out to everyone liking subscribing and sharing my content you guys are the best my usual disclaimer this project is an ICO so it is very much still in development so please always do your own

Research as I am NOT a financial advisor all investments do have inherent risk my videos for our entertainment purposes only lastly if you like my t-shirt and you want to pick one up you can check out the merch section on my website and if you'd like to support my channel you should subscribe and/or go check out my patreon account I will leave all the links down below let's jump right into it what is anchor before I go into the technology of the project I like to give a brief definition anchor is a decentralized distributed cloud computing platform their goal is to

Incentivize people to contribute their computing resources to help decrease the cost and increase the efficiency of cloud computing they are looking to replace the more traditional services that we see like Microsoft desert and Amazon Web Services some stats about the ICL so anchor is running their ICO on the etherium network making their token in ERC 20 token the ICO funding goal is 16 million in u.s. dollars and they're allowing 30% of the tokens for the token sale the next obvious question would be well when is the crowd sale the team states at the crowd sale and the white

List details will be released once they close out their presale stay tuned for updates on their announcement channel next up is technology anchor Network proposes utilizing blockchain as a solution to help address the current barriers that are preventing mass businesses from adopting this kind of technology they promise a more efficient consensus protocol called proof of useful work it's supposed to be a scalable blockchain framework that utilizes plasma side-chains and char tangs they also state that they plan on using

Native Oracle services connecting real world data of existing internet solutions to on chain entities what is proof of useful work the proof of useful work protocol enables self-sustainable blockchain frameworks instead of wasting electricity and computing power on hashes like Bitcoin does proof of useful work uses the resources towards useful work tasks provided by enterprises and consumers the protocol runs on SGX enabled CPUs and they stay that these CPUs help to ensure the security and confidentiality of the network a Google

Book these CPUs are used for because I honestly didn't know and what I gathered and I may be incorrect but is that they're basically a piece of hardware that is used for application developers who are seeking to protect selected code and data from being revealed or modified the SGX enabled CPUs make this kind of protection possible through the use of enclaves which are protected areas in the memory basically this can be used for implementing secure remote computations secure web browsing and digital rights management the use of pou W enables the massive potential of idle

Computing power around the world by providing user incentives which include every competition contributor getting compensated and some will even get extra rewards for generating the blocks anchors network consists of a tree structure of block chains or various application chains or child chains are connected to a single root or main chain anchors main chain is the backbone of the entire system each child chain is tailored to the need of the specific application before we move on I want to quickly define what an Oracle is as it relates to blockchain

Tekno myself up until about two weeks ago and it's important part of this project so it's important to understand what it is block chains cannot access data outside of their network an Oracle is a data feed provided by a third party service designed for use as a data provider on the blockchain Oracle's provide external data and usually trigger some sort of smart contract when predefined conditions are met such condition could be any data like weather temperature successful payment of something price fluctuations and so on block chains on their own cannot access

That outside information they'll let their own little floating islands and Oracle's help to provide the data and the information that can be used on those block chains all right back to anchor the main chain will also provide a source of authenticated data that can be used by each child chain meaning the main chain will act as its own Oracle currently existing Oracle solutions is this separately from the blockchain and sometimes capability can be an issue Angra wants to solve this problem by creating a user-friendly Universal API for each child chain to connect to off

Chain entities existing businesses can build decentralized autonomous applications on the child chain powerful computing power and utilize all of the built-in Oracle services next is the child chain each child chain can be tailored to serve different purposes based on the technical need application specific smart contracts will be stored on the child chain and the main chain will be used for consensus and distributed computation because the main chain can tap into the distributed global computing power transactions on the child chain will be calculated at a

Speed much faster than transactions on the traditional one chain structure the next component is their multi chain structure that utilizes plasma the plasma implementation allows different applications to handle application specific smart contracts on individual side chains preventing the transactions from overloading the proof of useful work based main chain anchors permissionless blockchain and framework can support an ecosystem of decentralized autonomous applications the envision of these applications will include a global peer-to-peer payment

System personal credit system and most importantly tokenization of real-world assets that normally cannot be easily sold or exchanged for cash without losing a substantial amount in the value next to some use cases imagine Oracle service is being utilized for something like the MLS which is a giant source of real estate data the API support would allow the data of recent sales public and private schools demographics home values market trends and anything else that could be easily accessible on a blockchain through these Oracle services potential fiat currency

Transactions on a blockchain anchor should be able to provide a bank intermediated ledger through commercial banks by way of API by design it should present proof of transfer making purchases of smart assets with fiat currency possible the capability of interacting with modern application interfaces such as being able to connect the blockchain with applications such as Facebook Messenger or WeChat to unlock a massive marketing potential onto the token system anchor tokens services store of value and the means to transfer value within the Anker blockchain these

Tokens can also be used to pay the computational fees across all child chains and all users of the anchor blockchain can earn acre tokens by contributing their computing power anchor tokens can be mined by contributing idle computing power for the useful work computations the team states the decentralization computer aspect of Ankur will be much cheaper than the centralized solution such as Amazon Cloud or Google cloud because the decentralized cloud will utilize other wasted computing power and wouldn't charge higher markups like the big

Internet dry let's talk about the team because that's always important Chandler song is the co-founder and the project manager he has a bachelor's of science and electrical engineering and computer science from the University of California in Berkeley he's a self-proclaimed serial entrepreneur who's worked at Amazon Diddy and the software development company SAP next we have the co-founder and CTO Stanley will he is a Masters of Science from the Rochester University of computer science and a Bachelors of Science from Shanghai

University he was a lead tech at Amazon in States he's got 10 plus years of industry experience in larger scale cloud services and lastly we have Ryan Feng who's the co-founder and CEO oh he's a bow as a science from the University of California Berkeley and he too is a self-proclaimed serial entrepreneur who's worked at Credit Sue's Morgan Stanley China Renaissance and State Street obviously there other members of the team but these are the major guys that I really just wanted to touch on their research partners are blockchain at

Berkley Dora hacks and CBC their strategic investors are neo global capital gbic cosmos ok blockchain capital a pretty important adviser on the project is crystal quack she's the co-founder and chief commercial officer of both the world's first open entertainment an economy that's powered by Zilka she's an advisor to zelicah as well as the Swiss geo Network which is the first decentralized exchange that it's built on neo upcoming to look forward to the roadmap states that their white paper releases planned

For this month June of 2018 and their first prototype release is planned for July of 2018 my final thoughts decentralized cloud computing seems to be the next popular platform blockchain tech is trying to disrupt I believe this project has great potential and it can be probably pretty lucrative if they're successful in creating what they promised the team States to be experienced and they have a pretty good amount of people on board considering it's just in the ico stages overall I think the project is one to keep your eye on I'm interested to see what the

General consensus of the committee is once the white paper is released I'll leave all the important links for myself and for the anchor project down below as usual I want to thank you guys for watching I'd also like some feedback if you liked the ico video if you didn't please let me know I like to try to tailor my content to see if I can come up with some new stuff to give you guys I got a lot going on this week so I will probably see you sooner than next week but as usual thanks for watching you

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