Undeniably, one of the most frustrating aspects about burgeoning blockchain projects is the inordinate use of buzzwords and industry-specific lexicon. Unfortunately, I must say that, despite my bullishness toward Ankr (CCC:ANKR-USD), it too suffers from the buzzword disease. ANKR trades at about 16 cents, up by 3.4% in the last seven days.
For instance, if you go to the official Ankr website, you’re greeted with the bolded message, “Connect to Web3 in minutes.” As if it helped, a subheading states, “We support more than 40 blockchain protocols for staking or developing purposes.” That’s awesome but what exactly is Web3?
Well, the first definition I received from a Google search was that “Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and semantic web.” That clarifies everything.
Then again, maybe not. So, I decided to go to Coinmarketcap.com, perhaps the resource for gaining new insights into the constantly evolving cryptocurrency market. In part, the website defines ANKR as a “solution that utilizes shared resources in order to provide easy and affordable blockchain node hosting solutions,” specifically building “a marketplace for container-based cloud services through the usage of shared resources.”
If that wasn’t clear enough, the site explains that really, ANKR “aims to build an infrastructure platform and marketplace for Web3-stack deployment to enable resource providers as well as end-users to connect to blockchain technologies and DeFi applications.”
Of course! I don’t know why people who attempt to explain the beauty of ANKR don’t automatically start with Web3-stack deployments. Because, you know, it’s so much better than Web2-stack deployments — those really stink.
ANKR — or at least the myriad explanations of it — reminded me of one time when I met a girl who knew way more about cars than I could ever dream about. I just nodded my head when she started talking about the automotive equivalent of Web3-stack deployments. (Hmmm, I wonder what became of her… )
ANKR Is a Long-Term Buy Despite the Buzzwords
I want to be clear that I’m not picking on ANKR for being pedantic about the blockchain. Even the term blockchain is defined as a distributed decentralized public ledger. So it’s no surprise that the whole army of blockchain projects deploy — here I go now — an array of buzzwords, as if repeating confusing lexicon is somehow a virtue.
As one of InvestorPlace’s private equity analysts, let me tell you, it isn’t. Quick tip: if you ever run a startup enterprise, you better communicate why your business matters in six seconds or you’re going to be swiped to the left.
Frankly, I was on the cusp of swiping left with ANKR. My problem was that the inane number of buzzwords made the platform look like any other Web3-stack deployment. If the terms “verticals” and “synergies” were incorporated in the mix, this would be a very different article.
Thank God for YouTube. What I can tell you is that ANKR is one of the most remarkable blockchain-based applications because it brings together programmers and communities via an incentivized digital economy. I’m not sure why the brightest minds in the distributed ledger space are seemingly incapable of using human language to explain their protocols but that’s where we are.
As an aside, this is the irony of Web 3.0. The applications that will be more human for its human users cannot be explained in human terms by its human developers.
Regardless, ANKR solves the problem of the lack of computing power to support the world’s most ambitious digital projects. No matter how advanced technology gets, one centralized power source is not enough to accommodate high-level projects.
Instead, ANKR proposes a radical new solution: allow programmers via a secure, confidential network to harness the supply of unused computing power within the broader global community. In return, those who “lend” said power receive a financial reward in the form of cryptocurrency.
It’s the Ecosystem that Matters
To me, it’s a darn shame that ANKR (or at least its website) is dead set on confusing all of its non-technical visitors. While the technology is incredibly impressive, as an investor, the most important catalyst is the platform’s digital ecosystem.
Personally, I’ve never seen a blockchain platform that seamlessly integrates programmers and nodes (computers). With ANKR’s innovation, it’s now possible for anyone with a computer to participate in a bigger story. Even if you have zero computer knowledge or interest in the field, you can still lend your processing power to developers who need it.
Again, I’m not sure why ANKR doesn’t lead with this big picture narrative. Surely, it’s unnecessarily costing the team investment funds. Luckily, I won’t be “fooled” — this is innovation worth believing in, even if you don’t understand it at first glance.
On the date of publication, Josh Enomoto held a long position in ANKR.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.