In the world of blockchain and cryptocurrencies, collaborations and partnerships between companies can lead to significant developments and potential growth for both parties. Recently, Ankr, a blockchain infrastructure provider, announced a new partnership with the tech giant Microsoft. This collaboration has already resulted in a 54% surge in the value of Ankr’s cryptocurrency, ANKR.
As part of the partnership, Ankr will offer a new node-hosting service in the Microsoft Azure Marketplace. This will facilitate communication of transactions, publishing of smart contracts, and reading and writing of data on the blockchain. Both Microsoft and Ankr aim to develop Web3 applications and make it easier for developers to build decentralized applications.
This collaboration signifies a major milestone in Ankr’s development, as CEO Chandler Song notes, “The end result will usher in an era of massive development of Web3 applications and the entrance of large companies.”
The fact that Microsoft has re-entered the blockchain world by partnering with Ankr is an interesting move, especially after it discontinued its Azure Blockchain Service on May 14, 2021. Furthermore, on December 15, 2022, Microsoft issued a complete ban on cryptocurrency mining on its cloud networks. The reason for the ban was to prevent cyber fraud, attacks, and unauthorized access to other customers’ resources. While the reasons for these decisions remain somewhat unclear, this collaboration with Ankr shows that Microsoft is not done with blockchain technology.
As a result of this partnership, the value of ANKR cryptocurrency surged 53.62% in just 24 hours, which translates to a market cap of approximately $500 million. Although ANKR still falls short of being a major player in the industry, this surge shows that it has potential and is on its way up. As with all cryptocurrency investments, the industry is notoriously volatile and unpredictable, and caution is always advised.
The collaboration between Ankr and Microsoft presents an exciting opportunity for both companies to develop the blockchain industry and create new possibilities in the field of Web3 applications. The integration of the technology of both companies and the development of new services could lead to significant growth for Ankr and the industry as a whole.
In conclusion, this partnership is a significant step for both Ankr and Microsoft. It demonstrates the potential for blockchain technology to continue to evolve and develop in new and exciting ways, with Microsoft being one of the most important players in the technology industry. The surge in the value of ANKR cryptocurrency shows the market’s confidence in the success of this partnership. However, it is important to remember that this is a volatile industry, and caution is always advised when investing in cryptocurrency.