In the ever-expanding blockchain space, interoperability is crucial for Web3 to continue advancing the future of the internet. Ankr, a Web3 infrastructure company, offers a comprehensive platform for developers to build the internet of the future on blockchain. With a globally distributed node infrastructure, Ankr provides tools for developing decentralized applications (DApps), blockchain engineering services, crypto staking solutions, and a range of developer products that streamline the creation and operation of Web3 applications.
In this interview, Stanley Wu, the co-founder and CTO of Ankr, provides insights into the state of Web3 and the role of decentralized physical infrastructures (DePINs) in shaping its future.
Cointelegraph: Why do you believe a decentralized web is crucial?
Stanley Wu: Web3 is vital because it enables the support and development of today’s most promising technologies without repeating the mistakes of the past, such as conglomerations and data abuses. Web3’s ability to democratize, decentralize, and support open-source AI models facilitates faster and safer innovation. In the financial markets, Web3 has already paved the way for tokenized assets, giving individuals greater control and creating a more efficient and transparent system. Additionally, in the Internet of Things (IoT), Web3 enables secure data exchange and micropayments, streamlining interactions and fostering a more efficient ecosystem. Overall, blockchain will become a cornerstone of truth and verifiable information, providing much-needed trust in various industries and technologies.
CT: As one of the longest-standing decentralized projects in the blockchain landscape, what are your thoughts on the evolution of blockchain and Web3?
SW: Since Ankr’s inception in 2017, blockchain has come a long way. Our focus has always been on fostering interoperability in the space, which has proven to be essential as Web3 evolves and different layers and ecosystems converge. Collaboration is key, and we can now share security among blockchains, leveraging the capital bases of chains like Bitcoin and Ethereum. This has been a significant evolution for Ankr, as we recently announced our collaboration with Babylon, allowing proof-of-stake networks to tap into Bitcoin’s $1 trillion market cap for security while enabling BTC holders to stake and earn yield.
CT: Can you explain the concept of decentralized physical infrastructure networks?
SW: Decentralized physical infrastructure networks (DePINs) harness blockchain technology and crypto incentives to connect real-world resources. This idea has the power to revolutionize the way goods and services are provided and sourced. A DePIN blockchain can track contributions of physical hardware to a network and reward people with tokens specific to that DePIN network. Hardware providers earn tokens, while network users make payments with them.
With Ankr’s DePIN network, our providers lend their blockchain nodes to serve RPC traffic and earn ANKR tokens. This traffic includes requests like transactions and data queries. Simultaneously, developers using the network can make payments in ANKR for their access to the servers, rewarding the providers. In essence, DePIN creates new digital economies that decentralize services.
CT: What are the latest trends and developments in the DePIN vertical?
SW: There have been various DePIN projects exploring decentralized networks of servers, cameras, machines, and other physical hardware. Anything built on Ankr’s supported partner networks, such as IoTeX and Filecoin, showcases DePIN innovation. However, one trend we are closely monitoring is the integration of AI models with DePIN.
CT: How would you describe Ankr’s role in the evolution of Web3, particularly in the DePIN field?
SW: Ankr was one of the pioneers in exploring DePIN by building a widespread node infrastructure as the foundation for Web3. Our original white paper focused on creating decentralized cloud services for applications ranging from machine learning to VR to IoT, using the ANKR token as an incentive. We later shifted our focus to a decentralized network of blockchain nodes that power transactions and data requests. Currently, our role is to provide the infrastructure necessary for building anything on-chain, equipping developers with the tools they need for the next generation of use cases.
CT: How does Ankr’s approach to DePIN differ from traditional cloud infrastructure services?
SW: Ankr leverages DePINs to connect users directly with providers of both cloud-based and bare-metal servers with spare storage or computing power. This offers more control, profit sharing, and lower costs by tapping into a broader resource pool. Ankr’s DePIN approach also has the potential for greater transparency through blockchain technology. All transactions and requests are recorded on the blockchain, providing visibility into how data is used. This creates a future where cloud infrastructure is more democratic, user-owned, and potentially more affordable.
CT: Blockchain and Web3 are increasingly intertwined with AI. Where do you see the most significant value in the convergence of these technologies?
SW: Blockchain and AI have a symbiotic relationship, and their convergence is crucial for both technologies. Blockchain addresses the issue of trusted data for training AI and verifying information. It also enables proof of personhood, machine-to-machine payments, smart contracts, and other benefits for AI as a decentralized operating system. On the other hand, AI brings scalability, security, speed, and interoperability to blockchain, helping us build faster and create a more robust Web3.
CT: Can you introduce us to Neura?
SW: Neura is a platform developed by Ankr that combines cloud computing, AI, and Web3 technology for AI deployment on the blockchain. Built on the Cosmos SDK and compatible with the Ethereum Virtual Machine (EVM), Neura addresses scalability, economic viability, and interoperability challenges, making it an ideal solution for AI and blockchain integration.
Neura integrates with off-chain storage solutions like Celestia, EigenLayer, IPFS, and Arweave to ensure data security and integrity while preventing the blockchain from being overwhelmed with AI model data. Neura leverages Bitcoin’s security mechanisms through integration with the Babylon BTC staking protocol, providing enhanced protection for transactions and data. The ANKR token is the primary utility token within the ecosystem, used for AI usage payments, purchasing AI tokens, incentivizing GPU providers, rewarding AI developers, staking, and more.
CT: How can startups and developers utilize Neura to enhance their AI operations?
SW: Neura provides a foundational infrastructure for AI startups, offering access to decentralized GPU resources, crypto-based crowdfunding, and on-chain AI operations. Neura addresses significant challenges faced by AI startups, such as GPU demands, data handling, and funding.
CT: What is your vision for the future of Web3? Do you believe today’s decentralization efforts are sufficient?
SW: Our vision for the future of Web3 is one where we have the freedom, tools, and infrastructure necessary to unlock the full potential of blockchain. We are aware that the current use cases of blockchain are just the beginning, and there is much more to come. As long as we remain committed to decentralization and continue expanding it, such as through Ankr’s DePIN node network, we will unveil the true potential of blockchain.
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