Ankr Network has revealed its Ankr Network 2.0 upgrade designed at transitioning blockchains into more resilient node networks.
The upgrade will focus making Web3 more decentralized through various features, such as an option to run an independent node, the ability to stake ANKR tokens on a full node, and the Ankr DAO.
Ankr is one of the largest remote procedure call endpoint providers in the crypto space. These are vital tools blockchain developers utilize to build decentralized apps and projects. Every time Ankr handles an RPC request, a node is required to fulfil it.
By expanding access to independent node providers, Ankr 2.0 aims to increase the number of nodes and the degree of decentralization on the network to eliminate a single point of failure in the node infrastructure. This also means that Ankr competitors may be able to join the protocol to provide nodes.
The more nodes running on the network, the greater ability to handle higher RPC request volumes and prevent failed requests. Independent node operators will also begin earning ANKR rewards for the work they do in securing the network.
The upgrade will also allow users to, for the first time, stake their ANKR on full nodes to secure the network and earn income. Stakers will also be entitled to a 49% share of the user fees spent on Ankr Network for their contribution.
ANKR stakers will also have voting power in the new Ankr DAO governance tool which will be used to make decisions on allocations of treasury funds, determining pricing and revenues for nodes, and choosing which blockchains to on board.
