Distributed Cloud Computing (DCC) is a new technology that enables trusted hardware to work on several computing tasks that can be used for different purposes. The Ankr Network is a new startup company that uses DCC that runs on the Intel Software Guard Extensions (SGX) to use that computing power in a process of proof of useful work.
In this process, each computer works like a single node and it is also coordinated with a number of other nodes that can be hundreds or thousands of them. These computers work together to create computing power to work toward a shared goal.
The co-founder and CTO of the Ankr Network, Stanley Wu, states that the company uses a very different system than Bitcoin. Instead of solving arbitrary math puzzles that serves no purpose, Ankr uses 99% of its computing power in useful calculations that are actually needed by people like the clients and the stakeholders of the company.
This way, the energy is actually spent on something useful instead of being just thrown away like in Bitcoin. According to Wu, it makes a lot more sense to use the calculations for the society.
Using Idle Computing Resources
The main idea that drives Ankr is that the computational capacity of the world is very high but also highly unused. Because of many factors, people simply waste their computing power.
According to researchers, 75% of the world’s population owns a smartphone but people simply do not use them as computing resources. This company was created to break this limitation and enable people to use their computing power to empower the network, make some money and expand the power available for computing on the world at large.
What Makes The Ankh Network Any Different Than Other Companies?
The company has a structure that may be similar to the one of many other computing networks that use the blockchain technology as a basis, but the creators of the Ankh Network state that the company has some important differences like having advantages in speed, security and scalability that other companies do not.
They make a point that the Golem Network, for instance, which is one of the most popular choices in the market, is limited by third-party computing. Ankr, on the other hand, can access more computing power because it is built on the collective support of all the miners and it also creates more financial opportunities for them.
While on Golem users can only profit from selling their computing power, the users from the Ankr Network have three different revenues: mining, transactions and smart contracts, as well as cloud computing. By using the company, you can mine your own computing power from your smartphone or your desktop computer and get profit.
The company has assembled a diverse team of experts like David Anderson from the Berkeley Open Infrastructure Network Computing to ensure that it will create an structure in which everything will work just fine and without any type of limitation that might hurt the potential of the project.