Ankr Network (ANKR) Overview
Ankr Network is a distributed cloud computing on trusted hardware.
|Start of ICO||16.09.2018|
|End of ICO||22.09.2018|
|Initial price||1 ANKR = 0.0066 USD|
|Total tokens||10 000 000 000 ANKR|
|Hard cap||16 000 000 USD|
The project offers distributed cloud computing using Blockchain technology and a new PoUW consensus (Proof of Useful Work). Ankr will develop its own Blockchain, which could be forked from Ethereum with Plasma framework. The description of the consensus algorithm and its utilitarian properties is not presented. Currently, Plasma is at the development stage, so it remains unclear when the project will be able to move to its own Blockchain.
The token will be used to pay for services provided by Ankr Network. The growth of the token price will be determined by the growth of demand for computing power when the deficit of ANKR will take place.
Cloud computing services are a fast-growing and highly competitive market segment. Service providers are both well-known corporations like Google, Amazon, IBM, and Blockchain startups, such as Golem, SONM, Dadi and others. It is unclear whether Ankr will be able to compete with industry leaders in the speed of data processing and withstand the load. Moreover, there is no market analysis and competitive analysis in the project Whitepaper, so it is difficult to conclude from the incomplete Whitepaper whether the project has competitive advantages.
The project team does not have relevant experience in the field of cloud computing services. The two founders completed their education in 2017 and 2018 and have little experience in SAP, Didi and Amazon. Project advisers are true experts in the fields they represent, but there is no clear evidence of their participation in the project.
The project does not have strategic partners. At the stage of Private Sale, the project was funded by venture capital and crypto funds, such as Pantera Capital, OK Blockchain Capital, DHVC and others.
There is no information about project marketing strategy after the ICO in public domain. There is no bounty campaign and airdrop. Moreover, the Roadmap was compiled only until September 2018. Further development of the project is not disclosed.
Besides the inherent risks of ICO projects, we identified commercial risks and marketing risks, due to the lack of a working prototype, high competition in the industry and incomprehensive project documentation.