Evolve Markets

Crypto cloud computing platform Ankr exploring use of Matic’s plasma sidechain

Crypto cloud computing platform Ankr exploring use of Matic's plasma sidechain

Matic Network, a blockchain scaling solution, today announced a new partnership with Ankr Network, a cryptocurrency based distributed cloud computing platform that aims to utilize existing idle compute-resources to drive the network rather than require new hardware to be installed. The two will join forces in scaling research and implementation.

Ankr is an eco-friendly and smart approach to providing cloud services and will be needing faster transactions with low latency to offer a better user experience. This makes Matic Network, with its plasma-based sidechain technology an ideal partner.

Both Matic and Ankr share a mutual interest in furthering plasma side-chain technology, giving rise to this partnership. Matic’s plasma chain’s usability is already well known to other blockchain projects; providing efficient yet secure and decentralized transactions.

Recently Ankr partnered with two very large organizations to help monetize their idle-compute resources: the European telecom giant Telefónica and another cloud computing service Digital Ocean, they have a product in late test phases, with a full launch coming soon.

The key areas for synergy include:
  • Matic has a long term focus on enabling enterprise use-cases which in many scenarios require large scale computation. Matic could benefit from in-stack integrations with Ankr Network’s cloud computing platform.
  • For Ankr, sidechains can be used to provide code validation services without the need to actually execute, but while retaining full security and confidentiality of the task being confirmed.
  • To take the Ankr network to masses and enable users to be able to pay with Ankr’s computational resources using any generic token for smaller use cases, Matic sidechains could be used.
  • Sidechains can also provide Ankr the ability to provide different ‘levels of service’ to customers: with sidechains consisting, for example, of nodes with high power and availability, customers could pay for their tasks/workload to be carried out specifically on this estate. On the other hand, less computation intensive tasks could be made cheaper by utilizing a sidechain.
Check Out...  DigitalOcean partners with distributed computing network Ankr

In addition to the research, the Ankr team recognizes the vast potential of the Indian market. To that end, the Matic team said it would be happy to support the Ankr project in India, as they expand their product and their user base. As part of the collaboration, Matic would get support from Ankr in spreading its community and outreach initiatives in North America.

Matic provides scalable, secure and instant transactions using sidechains based on an adapted implementation of plasma framework for asset security and a decentralized network of Proof-of-Stake (PoS) validators.

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