Blockchain’s Role in Democratizing Technology – An Interview with Anchor

As the blockchain space expands into an ecosystem of different networks and protocols, working with each other will become essential to continue building the next and best version of the Internet.

Anchor, a Web3 infrastructure company, offers an all-in-one hub for developers to build the future of the Internet with blockchain. With a globally distributed node infrastructure, Ankr offers multichain decentralized application (DApp) development tools, blockchain engineering services, crypto staking solutions, and a suite of developer products designed to streamline the creation and operation of Web3 applications.

In this interview, Stanley Wu, Anchor's co-founder and chief technology officer, provides insight into the state of Web3 and how decentralized physical infrastructure (DePINs) will shape its future.

Cointelegraph: Why do you think the decentralized web is important?

Stanley Wu: Web3 is important because it provides the capabilities to support today's most promising technologies in a way that doesn't replicate the conglomeration and data abuse of the past. Web3's ability to promote democratization, decentralization, and supporting open source AI models fuels faster and safer building and innovation.

For financial markets, Web3 has paved the way for already held assets, giving individuals more control and enabling more efficient and transparent operations. Finally, the Internet of Things (IoT), Web3 enables secure data exchange and micropayments between devices, providers and users, streamlining communications and enabling a more efficient connected ecosystem. And for all technologies and industries, blockchain will be the cornerstone of truth and verified information when trust is most needed.

CT: As one of the leading decentralized projects in the blockchain landscape, what are your thoughts on the evolution of blockchain and Web3?

SW: Blockchain Anchor has come a long way since its inception in 2017. We have always focused on interoperability in space. We see this is always key as Web3 expands itself modularly and brings together many different layers and ecosystems.

Continuing the theme of collaboration, we can now share security between blockchains, allowing us to reuse the capital bases of massive chains like Bitcoin and Ethereum. This is a big blockchain evolution for Anker because we recently announced our work with Babylon, giving BTC owners a way to secure the $1 trillion market capitalization of Bitcoin (BTC) by allowing verification networks to participate and produce for the first time.

CT: Can you explain the concept of decentralized physical infrastructure?

SW: Decentralized physical infrastructure networks (DePINs) use blockchain technology and crypto incentives to pool real-world resources together. This is a very powerful idea that Anker has been constantly working on, because it can change the way we give and receive goods and services.

The DePIN blockchain can track physical hardware's contribution to the network and reward those with tokens unique to that DePIN network. In this way, hardware vendors earn tokens when network users make payments with them.

In the Ankr DePIN network, our providers lend their blockchain nodes to serve RPC traffic coming into the network and earn ANKR tokens. This traffic is requests such as sending transactions or querying the blockchain for data. At the same time, developers using the network can pay for access to servers in ANKR, which rewards providers. In short, DePIN is about creating new digital economies that decentralize services.

CT: What are some of the latest trends and developments in the blockchain space with DePIN down the line?

SW: Blockchain has been explored through DePIN projects involving decentralized server networks, cameras, machines and all kinds of physical hardware. Anything being built on anchor-backed partner networks like IoTeX and Filecoin is a good example of DePIN innovation. However, I think what Anker is definitely looking at is supporting AI models with DePIN.

CT: How would you describe Anchor's role in the evolution of Web3, especially in the field of DePIN?

SW: Ankr was one of the first to really explore DePIN in terms of building a broad node infrastructure as a foundation for Web3. Our original white paper focused on creating decentralized cloud services from machine learning to VR to IoT using the ANKR token as a catalyst.

Then, we focus on a decentralized network of blockchain nodes that leverages the technology's transaction and data request requirements. Our role today is to provide the infrastructure to build anything on-chain, and that's what we're working on to equip developers with every tool and piece of infrastructure to build next-generation use cases.

CT: How does Anchor's approach to DEP differ from traditional cloud infrastructure services?

SW: Anchor uses DePINs to connect you directly to providers of cloud-based and bare-metal servers with flexible storage or computing power. This translates into more control, profit sharing and lower costs as you tap into a wider resource pool. AnkerDepin's approach allows for greater transparency through blockchain technology.

Unlocking the full potential of #AI requires serious computing muscle.

With our Anchor DP network, we have the power to handle massive data sets and high-powered machine learning applications around the world 🚀#NVIDIA pic.twitter.com/sWJr6xfNO0

— Ankr (@ankr) March 18, 2024

Blockchain provides a public record of all transactions and requests, allowing you to see how data is being used. Anker Depin hints at a future where cloud infrastructure will be more democratized, user-owned and more affordable.

CT: Blockchain and Web3 are becoming more integrated with AI. What do you think are the most important areas where AI and blockchain technologies can bring value to each other?

SW: Blockchain and AI have a symbiotic relationship, and their integration will be one of the most important moments for both technologies. Blockchain solves the issue of trusted data in terms of training AI and verifying data.

It is also extremely useful as a tool for AI as an advanced decentralized operating system for human identity verification, machine-to-machine payments, smart contracts and various other benefits. Meanwhile, AI will bring many benefits to the blockchain because it will help us build faster and create more scalability, security, speed and interoperability in Web 3.

CT: Can you introduce us to Neura?

SW: Neura is a platform built by Anker. Built on the Cosmos SDK and compatible with the Ethereum Virtual Machine (EVM), it combines cloud computing, AI and Web3 technology to deploy AI on the blockchain. Neura addresses critical scalability, economic viability and interoperability challenges, making it a solution for the integration of AI and blockchain.

In addition, the integration of Neura's off-chain storage solutions such as Celestia, EigenLayer, IPFS and Arweave ensures data security and integrity while the blockchain is not overburdened with AI-modeled data.

Neura integrates Bitcoin's proven security mechanisms with Babylon's BTC staking protocol to protect the network, providing enhanced protection for transactions and data. The ANKR token is the ecosystem's primary utility token used for AI usage fees, purchasing AI tokens, incentives for GPU vendors, rewards for AI developers, staking, and more.

CT: How can startups and developers use Neura to power AI operations?

SW: Neura provides infrastructure for AI startups by providing access to decentralized GPU resources, crypto-based crowdfunding and on-chain AI operations. Neura offers three important advantages that solve some of the most important challenges AI startups face: satisfying GPU needs, data management, and funding.

CT: What is your vision for the future of Web 3? Do you believe that today's efforts at decentralization are enough?

SW: Our vision for the future of Web3 is one where we have the freedom, tools and infrastructure we need to bring blockchain to its full potential. We've known for some time that blockchain's current use cases pale in comparison to future implementations and integrations.

As long as we maintain decentralization and strive to continuously expand as an anchor DP node network, we will demonstrate the true potential of blockchain.