Project overview

The Ankr Network Blockchain is a revolutionary multi-chain and useful-work based blockchain with native authenticated data feed. Its main features are its Proof-of-Useful-Work consensus protocol, its Distributed Cloud Computing platform, the seamless interface of oracle services and its multi-chain architecture.

By using Intel SGX, Ankr’s PoUW is able to achieve a high-security standard without wasting energy. At a high-level, in PoUW consensus, miners with CPU computing power can execute useful computation under the trusted hardware’s proctoring to earn reward within the blockchain ecosystem.

Ankr Network consists of a tree structure of blockchains where various application chains (Child Chains) are connected to a single root chain (Main Chain). Ankr’s main chain is the backbone of the entire system. The main chain is based on PoUW and its functionality includes child chain indexing, useful work mining and smart contract executions.

The integrated Oracle Service provides authenticated data feed by leveraging both cryptographic primitives and the trusted execution environment (TEE). Through a standardized API to port data from existing websites, Oracle Service enables simple real-world business adoption.


Token model

Ankr tokens serve as the storage of value and as a means to transfer value. At all times, Ankr token can be used to incentivize the engagement with Ankr network and can be transferred across child chains. Ankr tokens can be mined by contributing idle computing power for useful work computation and will be charged for computation and transactions happened on Ankr Blockchain.

Additionally, all dApps on the Ankr Blockchain will use Ankr tokens for computation and transaction fees.



The Ankr Network’s whitepaper is hard to navigate. It is weirdly structured, and it is sometimes hard to find some information. Other than that, it explains clearly the different features of the blockchain as well as the token model and the role of the different actors in the ecosystem. It however, doesn’t include a section about team members or a roadmap. It also doesn’t have any information concerning the token sale.



Chandler Song – Co-founder and CEO
Recent Berkeley graduate with 2 years of software engineering experience at CitySpade, SAP and Amazon.

Stanley Wu – Co-Founder and CTO
Formerly a tech lead in Amazon, Stanley has over 10 years of experience in large scale cloud services. He holds a MS in Electrical and Computer engineering from Rochester University.

Ryan Fang – Co-Founder and COO
Graduated recently with B.S. Business from Berkeley and had numerous internship experience with top tier banks that includes Credit Suisse, State Street and Morgan Stanley.

Song Liu – Chief Security Engineer
Song Liu had over 7 years of experience and was formerly with Gigamon, Palo Alto Networks, General Electric (GE) and Electronic Arts. He holds a MS in computer Science from Boston University.


Ankr Network Roadmap

ICO terms

The token sale will start in August (no exact date).

Ticker: ANKR
Token type:
ICO Token Price: 1 ANKR = 0.0066 USD
Hardcap: 18,700,000 USD
Sold on Pre-Sale: 15,950,000 USD
Total Tokens: 10,000,000,000 ANKR
Available for Token Sale: 35%


Token distribution

ankr network token allocation


Community hype

Telegram: 54,847 members
Twitter: 1,830 followers


  • Ankr rewards everyone that contributes computational power to the network, not just the first one that solves a block
  • The PoUW allows anyone to participate in the network (and gain rewards) without having to dedicate expensive energy costs
  • The multi-chain architecture will allow them to scale to a higher throughput of transactions
  • Ankr Network is backed by many notable institutional investors such as Pantera and DHVC


Red flags

  • The token is only used as a mean of payment
  • The roadmap doesn’t go past the Testnet release in September 2018
  • In order to create a strong network effect, they highly depend on people providing computational power to the network which people might not be willing to do if they are already mining another more “mainstream” coin
  • There is no information concerning the use of funds



Team: 7.5/10

The founders of Ankr Network are quite young and just out of university. They however have assembled an impressive team of software and blockchain engineers along with solid advisors.

Token Model: 4.75/10

The Ankr token model is quite weak. The token is only used as a means of payment within the ecosystem and offers no real incentive for users to hold on to them.

Token Distribution: 5.6/10

The fact that 30% of all tokens are sold in a private pre-sale and only 5% in the public sale might lead to a more centralized distribution than what would be ideal. An airdrop or a bounty campaign could have helped with decentralization, but Ankr Network isn’t doing any of them.

State of the Project: 4.7/10

Ankr Network doesn’t have a working product yet and their roadmap doesn’t go past the Testnet release in September 2018.

Market: 6.6/10

Cloud computing is one of the fastest growing industry and can definitely benefit from blockchain technology. It is however already a very saturated market by both traditional companies (AWS, Microsoft Azure, etc.) and blockchain-based ones (iExec, Golem, etc.).

ICON score: 5.8/10


Ankr Network Conclusion

At Icon Partners, we think that Ankr Network offers an interesting alternative to other smart contract capable blockchains. Their PoUW consensus mechanism solves the main problems of PoW, i.e speed and high energy consumption. On the other hand, the fact that the founders are so inexperienced and the fact that they are still far from the Mainnet release is concerning. Also, not having a long-term roadmap, or at least one that goes up to the main release, doesn’t give confidence to their investors that will be able to deliver all the innovative features that are described in the whitepaper. However, if they do manage to pull it off, their PoUW could become the new standard when it comes to mining.

We encourage you to do your own research and come to your own conclusions when investing in an ICO. All the information in this review are either facts or ICON Partners’ opinions and should not be used as investment advice.





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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.