Business News Report Technology
April 05, 2024

Ankr And WitnessChain Collaborate To Boost Innovation In DePIN And AVS Projects

In Brief

Cross-chain infrastructure provider Ankr partnered with WitnessChain to foster innovation through collaboration on DePIN and AVS projects.

Ankr And WitnessChain Collaborate To Boost Innovation In DePIN And AVS Projects

Cross-chain infrastructure provider Ankr (ANKR) announced a collaboration with WitnessChain, a proof system for decentralized networks, to foster innovation through collaboration on Decentralized Physical Infrastructure Networks (DePIN) and actively validated service (AVS) projects.

WitnessChain serves as the EigenLayer AVS for coordinating DePIN activities. Its role involves providing a shared platform for DePINs to reach a consensus on their physical status, employing mechanisms like Proof of Location and Proof of Bandwidth to facilitate this process.

These proofs play a crucial role in guaranteeing coverage and usage, facilitating the mapping of demand, and guiding hardware expansion for DePIN. Leveraging proof systems to verify location and bandwidth capacities enables DePIN projects to achieve better discoverability, stimulate the economy, and gain access to essential financial resources.

WitnessChain’s objective of consolidating DePIN economies aligns well with Ankr’s dedication to equipping DePIN networks with top-tier infrastructure resources. Ankr will serve as an AVS operator, managing Nodes for WitnessChain, thus ensuring the smooth and secure functioning of operations.

Moreover, WitnessChain’s in-house project, the rollup Watchtower network, a decentralized physical network of staked Ethereum validators, will guarantee that validators consistently validate rollup state commitments, serving as the initial layer of defense for rollups. Functioning as auditors for DePIN networks, they facilitate collaboration among DePINs, thereby contributing to developing a stronger and more reliable decentralized infrastructure landscape.

Meanwhile, Ankr’s rollup-as-a-service (RaaS) will integrate with WitnessChain Watchtowers, offering developers the option of an additional layer with WitnessChain watchtowers monitoring their blockchain for added security measures.

Ankr Expands Ultra Sound Infrastructure Through Partnerships with IoTex, Storj, and Others

Ankr is a foundational element for EigenLayer, supplying the necessary infrastructure to ensure its vital functions deliver Ethereum security to emerging Web3 protocols without encountering scalability issues. This encompasses secure node operations, liquid staking solutions, and efficient scaling services to facilitate the swift launch of new AVS projects.

Recently, Ankr integrated new partner providers such as IoTex, Storj, Clover, Mind Heart Soul, and Ankr Labs, alongside Tencent Cloud, into its network of Ultra Sound Infrastructure partners to enhance the speed, reliability, and efficiency of its network.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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