How Blockchain Democratizes Tech: An Interview with Ankr

As blockchain technology continues to evolve, creating an intricate ecosystem of various networks and protocols, interoperability is becoming increasingly essential for the growth and advancement of Web3. Ankr, a prominent Web3 infrastructure company, serves as a comprehensive hub for developers who are building the future of the internet on blockchain technology. With a globally distributed node infrastructure, Ankr offers a diverse range of tools and services for developing multichain decentralized applications (DApps), blockchain engineering services, crypto staking solutions, and a suite of developer products that facilitate the creation and operation of Web3 applications.

In a recent discussion, Ankr co-founder and chief technology officer Stanley Wu elaborated on the current state of Web3 and the pivotal role that decentralized physical infrastructures (DePINs) are expected to play in its future. Wu highlighted the importance of Web3 for its ability to support advanced technologies without repeating the data monopolies and privacy breaches of the past. Web3’s democratizing and decentralizing nature aims to foster open-source AI models, which in turn can drive faster, safer innovation in various fields.

For the financial sector, Web3 has introduced the concept of tokenized assets, giving individuals more control over their investments and creating a more transparent market. Web3 facilitates secure data exchange and micropayments within the Internet of Things (IoT), thus promoting efficient interactions between devices, providers, and users. Across different technologies and industries, blockchain has the potential to become a fundamental source of verified and trustworthy information, especially in an era where trust is crucial.

Ankr has been a part of the blockchain journey since its inception in 2017, with a specific focus on fostering interoperability. Wu explained that this focus has been crucial as Web3 transitions into a modularly scalable entity, integrating various layers and ecosystems. He emphasized how shared security among blockchains has evolved, allowing for the reuse of the significant capital bases of major chains like Bitcoin and Ethereum. This evolution has been marked by Ankr’s recent collaboration with Babylon, which enables proof-of-stake networks to utilize Bitcoin’s $1 trillion market cap for security, simultaneously providing BTC holders with new staking opportunities.

Decentralized physical infrastructure networks, or DePINs, utilize blockchain technology and crypto incentives to merge real-world resources into a cohesive network. Ankr has been diligently working on this innovative concept, aiming to revolutionize the sourcing and provision of goods and services. In a DePIN network, contributions of physical hardware are recorded on a blockchain, and contributors are rewarded with specific tokens. Ankr’s DePIN network, for example, allows providers to lend their blockchain nodes to handle RPC traffic, thereby earning ANKR tokens for their contributions. Developers using the network can make payments in ANKR, creating a circular economy that decentralizes services.

Blockchain technology is being explored through various DePIN projects that involve decentralized networks of servers, cameras, machines, and diverse physical hardware. Noteworthy examples include projects supported by Ankr’s partner networks, such as IoTeX and Filecoin. Ankr is keen on supporting AI models through DePIN, as the intersection of AI and blockchain holds immense potential for advancing both domains. Originally, Ankr’s focus was on building decentralized cloud services for diverse applications, which later shifted to creating a decentralized network of blockchain nodes. Currently, Ankr’s mission is to provide the infrastructure necessary to build anything on-chain, equipping developers with essential tools and resources.

Leveraging DePINs, Ankr connects users directly with providers who operate both cloud-based and bare-metal servers, offering spare storage and computing power. This method provides greater control, profit sharing, and reduced costs by tapping into a broader pool of resources. Another advantage of Ankr’s DePIN approach is the enhanced transparency achieved through blockchain technology, which maintains a public record of all transactions and data requests, ensuring better data utilization oversight.

The convergence of blockchain and AI is viewed as a pivotal moment for both technologies, promising extensive benefits. Blockchain addresses issues of trusted data for AI training and information verification, while also facilitating proof of personhood, machine-to-machine payments, and smart contracts. AI, in return, enhances blockchain by aiding in faster development, greater scalability, improved security, and better interoperability for Web3.

Ankr has developed Neura, a platform built on the Cosmos SDK and compatible with the Ethereum Virtual Machine (EVM), combining cloud computing, AI, and Web3 technologies for deploying AI on the blockchain. Neura is designed to overcome scalability, economic viability, and interoperability challenges that are critical for AI and blockchain integration. With integrations like Celestia, EigenLayer, IPFS, and Arweave for off-chain storage, Neura ensures data security and integrity without overloading the blockchain with AI model data. Its network security is bolstered by leveraging Bitcoin’s proven mechanisms through integration with the Babylon BTC staking protocol.

The ANKR token is central to the ecosystem, facilitating payments for AI usage, purchasing AI tokens, incentivizing GPU providers, rewarding AI developers, staking, and more. Neura provides a foundational infrastructure for AI startups, offering access to decentralized GPU resources, crypto crowdfunding, and on-chain AI operations. By addressing key challenges such as GPU demands, data handling, and funding acquisition, Neura positions itself as a significant enabler for AI innovations.

Ankr envisions a future for Web3 where developers have the freedom, tools, and infrastructure needed to fully realize blockchain’s potential. The current use cases of blockchain are merely the tip of the iceberg compared to what the future holds. By adhering to the principles of decentralization and expanding initiatives like the DePIN node network, Ankr aims to unlock the true potential of blockchain technology.