A recent upcoming ICO is one that goes by the name of AnkR. This particular ICO is gaining a lot of momentum In the market at the moment. It wants to build a distributed cloud computing platform on its own blockchain. Its tokens can be earned or mined by contributing computing power. In many respects it is actually very similar to HyperNet as it is operating in the same niche. It works around the cloud computing category and so on.
There are four main things that stand out with this ICO. Firstly, the project is actually supported by a company called Neo Global Capital. It is a successful blockchain investment fund and someone who has invested in them before would have seen them do quite well. They have invested in several projects along with AnkR. Secondly, what is really likeable about this particular ICO is the consensus mechanism it is making use of which uses what it calls “proof of useful work” which is an algorithm which validates hash functions in a more sustainable and energy efficient manner than traditional proof of work or proof of stake frameworks. Thirdly, it is going to be using side chains which prevent overloading its main chain.
When it comes to the negatives, there are two small things that catches one’s eye. Its goals do not seem very unique. One has to wonder how they will provide mass adoption for their product when they are competing with the likes of Amazon, Microsoft (Azure) and Google’s cloud. Secondly, what is concerning with this project is really the hardware that they are going to be incorporating to maintain app stability. The project has decided to use software guard extensions that run on top of Intel’s SGX processors. This will limit the adoption of what they want to achieve by tying its apps down to a specific set of processors.
Their hype in the market is actually quite good as they have organic awareness in the market. Investors are noticing the AnkR project without the need for things like airdrops or bounties. Their team is also quite impressive. They are a young group which is somewhat concerning but what they lack in experience they make up for in competence.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyse and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.