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Ankr Network’s 2.0 Update Targets to Enhance Web3 Decentralization

Ankr is among the leading RPC (remote procedure call) endpoint providers within the cryptocurrency market, essential for web3 decentralized applications that link with blockchains.

Ankr Network (ANKR), a decentralized web3 infrastructure supplier, has unveiled its Ankr Network 2.0 update targeted at transforming blockchain into more resilient node networks. Meanwhile, Cointelegraph’s head obtained the White paper that detailed the Ankr 2.0 upgrade.

The upgrade wants to improve web3 decentralization via several new functionalities, like operating independent nodes and staking ANKR on full nodes, plus the Ankr DAO. A spokesperson told Cointelegraph the upgrade targets to transition more blockchains and decentralized applications created on them, encouraging distributed and robust node networks backed by independent providers.

Ankr is among the leading RPC (remote procedure call) endpoint providers within the crypto world. RPCs are vital tools blockchain developers utilize to create decentralized projects and apps. A node fulfills each RPC request Ankr handles.

Ankr 2.0 targets to increase nodes and heighten network decentralization to eradicate single-point failures within the node infrastructure. Also, that means Ankr competitors can join the protocol as node providers.

Networks with more nodes boast a higher capacity to handle massive RPC requests and avoid failed requests. Moreover, independent node operators will start earning rewards (in ANKR) for securing the platform.

Users can capitalize on the upgrade to stake ANKR tokens on full nodes to earn income and secure the ecosystem. Moreover, stakers will enjoy 49% of user fees on the Ankr Network for contribution. The upgrade will ensure voting power for ANKR stakers in the updated Ankr DAO governance features, essential in making decisions on treasury funds allocations, selecting blockchains to onboard, and determining nodes’ revenues and pricing.

Ankr 2.0 offers developers three API services that simplify blockchain data querying (Whitepaper). It comprises APIs which decrease the time used searching blocks for events and addresses, allow NFT metadata and ownership history search (across six blockchains), and enable searches in Ankr-supported EVM-compatible network.

EVM (Ethereum Virtual Machine) chains mimic the Ethereum Network development atmosphere. They support decentralized applications and smart contracts. Meanwhile, the ANKR token gained 1.8% within the previous 24 hours to $0.0267 (CoinGecko data).

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