Ankr's Efforts in Shaping Web3: Insights from Co-founder Stanley Wu on Blockchain and AI Integration
Summary:
Ankr, a Web3 infrastructure firm, aims to simplify the creation and operation of Web3 applications via its multi-faceted hub. Stanley Wu, co-founder of Ankr, underscores the importance of Web3 for supporting advanced technologies without repeating past data issues. He also highlights Ankr's active role in promoting interoperability in the blockchain sphere and the value of blockchain as a dependable source of information. Wu further explains how Decentralized Physical Infrastructures (DePINs), which utilizes blockchain technology to amalgamate real-world resources, can revolutionize provisioning and sourcing of goods and services. Wu shares insights on the integration of AI with blockchain and introduces Neura, a platform offering a solution for AI and blockchain integration.
The burgeoning world of blockchain is evolving into a versatile network of numerous protocols, emphasizing the need for interoperability for the flourishing of Web3 - the impending version of the internet. Ankr, a company pioneering in Web3 infrastructure, is catering to developers with a comprehensive hub for building the future of the internet within the blockchain arena. Globally distributed node infrastructure, blockchain engineering services, multichain DApp development tools, crypto staking solutions, and a suite of developer products are all on offer by Ankr, speeding up the development and execution of Web3 applications.
In a recent conversation, Stanley Wu, the Co-founder and CTO of Ankr, shared his perspective on the current state of Web3 and the potential impact of decentralized physical infrastructures (DePINs) on its future progression. He emphasized the vital nature of Web3 owing to its capacity to back groundbreaking technologies without recreating the past's data misuse and concentration. Web3's potential to democratize, decentralize, and support open-source AI models could ignite quicker and safer innovation and creation.
Within the financial landscape, Web3 has already streamlined the path for tokenized assets, giving individuals heightened control and cultivating a system that is efficient and transparent. On the subject of Internet of Things (IoT), Web3 has enabled the secure exchange of data and micropayments among devices, users, and providers - making interactions smoother and fostering an interconnected ecosystem that is more efficient. Wu also addresses the crucial role of the blockchain as a pillar of trust and validated information in contemporary times when trust is in utmost demand.
Noting Ankr's long-standing presence in the decentralized projects in the blockchain sphere, Wu reveals his thoughts on the evolution of blockchain and Web3. He mentions the significant strides the blockchain has made since Ankr was founded in 2017, with the focus championing interoperability in the arena ever since. This focus has proved essential as Web3 is evolving through increased collaboration and the integration of various layers and ecosystems.
The prime shift revolves around the shared security among blockchains, which aids in reusing the substantial capital bases of networks like Bitcoin and Ethereum. Wu makes a special reference to Ankr's recent partnership with Babylon, which allows proof-of-stake networks to leverage the 1 trillion dollar market cap of Bitcoin for security, simultaneously giving BTC holders an avenue to the stake and reap yield for the first time.
Decentralized physical infrastructure networks, as explained by Wu, utilize blockchain technology and crypto incentives to consolidate real-world resources. Ankr has been diligently working with these networks as they could transform the way we source and provide goods and services. Blockchain can keep track of contributions to a network, made by physical hardware, and reward contributors with tokens specific to that particular network. In tangible terms, with Ankr's DePIN network, providers offer their blockchain nodes to serve RPC traffic that comes to our network and in turn earn ANKR tokens. Developers, on the other hand, can use the same network for server access and make payments in ANKR, rewarding the providers.
The current trends in the blockchain space within the DePIN vertical include the exploration of blockchain with various DePIN projects involving decentralized networks of servers, cameras, machines, and all kinds of physical hardware. Ankr is keenly looking at supporting AI models with DePIN, with the goal to offer infrastructure to enable on-chain construction.
Distinguishing Ankr's approach to DePIN from traditional cloud infrastructure services, Wu emphasizes Ankr's ability to connect users directly with providers operating both cloud-based and bare-metal servers that have spare storage or computing power. This connection translates into more control, profit sharing, and lower costs, as users access a wider resource pool. Ankr's DePIN approach also highlights the potential for greater transparency through blockchain technology, offering a vision of a democratized, user-owned, more affordable future for cloud infrastructure.
Sharing his views on AI and blockchain's intersection, Wu points out the symbiotic relationship between the two and how blockchain can ensure trusted data for training AI and verify information. On the other hand, AI can help in building faster and creating more scalability, security, speed, and interoperability into Web3.
Neura, a product of Ankr, built on the Cosmos SDK and compatible with the Ethereum Virtual Machine (EVM), merges cloud computing, AI, and Web3 tech for AI deployment on the blockchain. It addresses core scalability, economic feasibility, and interoperability challenges, marking a tangible solution for AI and blockchain integration. Furthermore, Neura's integration with off-chain storage solutions like Celestia, EigenLayer, IPFS, and Arweave ensures data security, integrity and prevents the overburdening of the blockchain with AI model data.
Neura provides a groundwork infrastructure for AI startups, giving access to decentralized GPU resources, crypto-based crowdfunding, and on-chain AI operations. The broad vision for Web3's future, as per Wu, encompasses all necessary tools, freedom and infrastructure to exploit the full potential of blockchain. As efforts towards decentralization continuously expand the ethos, like Ankr's DePIN node network, blockchain's true potential will be unveiled.
Published At
5/29/2024 1:00:00 PM
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