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Ankr receives significant investment from Binance

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Earlier today, Binance Labs, the startup capital and accelerator arm of BNB, made public its strategic investment in Ankr, the Web3 powerhouse known for its decentralized infrastructure.

Ankr's substantial open-source contributions to Binance's BNB Chain, BNB Liquid Staking, and general ecosystem support are primary drivers that attracted the investment from Binance Labs.

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What is Ankr?

In essence, Ankr facilitates the launch of blockchains for businesses, allowing them to provide superior Web3 experiences to their customers in record time. The protocol, scheduled for release in 2021, will eventually process 200 billion Remote Procedure Call (RPC) queries each month across 50 different blockchain networks.

Specifically, Ankr's COO Ryan Fang said: The addition of Binance Labs as a strategic investor fills us with joy. With the most daily transactions and users, BNB is clearly the leader.

Ankr serves over 7.2 billion daily blockchain requests on over 30 different blockchains, making it the second largest node provider (after Alchemy).

The possibility is to further serve its customers, they plan to invest the funds towards expanding its market-leading RPC service and its portfolio of Web3 development tools, which currently includes the Liquid Staking Software Development Kit (SDK), the Web3 Gaming SDK, and the App Chains As A Service.

In addition, their Protocol processes over 7 billion blockchain requests every day across the 18 blockchains on which it provides RPC hosting. The fact that all BNB initiatives and users stand to gain greatly from Ankr's improvements to the network is another reason for Binance Labs' endorsement of the project.

As previously mentioned, Ankr is responsible for most of BNB's foundational architecture, including the Erigon update, the Archive Node upgrade, and the most recent BNB Application Sidechain (BAS) scaling solution.

Yi He, a co-founder and manager of Binance will be leading the incubator's venture capital (VC) division.

Yi He will be responsible for Binance Labs' general direction and day-to-day operations, with some of his time spent bolstering infrastructure initiatives and enhancing the practical applications of cutting-edge crypto and blockchain endeavors.

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Author: Hassan Alzaza

Author: Hassan Alzaza

My Name is Hassan Al-Zaza, I am a detail-driven and experienced SEO Content Writer living in Germany with over ten years of experience developing and producing top-notch content. I have a Bachelor's degree in English Language and Literature and a Master's in Business Communication. I have been working for 12 years in marketing, Content Writing, and ad Copywriting across SMEs, corporate, and public sector organizations in the EU and the Middle East region. I helped build brands for a wide range of successful companies from IT and software consultancies to the finance industry, tourism, and retail.

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