The full-chain interoperability protocol Analog has raised $16 million in funding, attracting significant attention.

Recently, a full-chain interoperability protocol named Analog has gained widespread attention after securing $16 million in funding. The institutions participating in the investment include several well-known venture capital and cryptocurrency companies, as well as some key figures in the industry.

At the end of 2023, Analog announced the opening of testnet registration activities on social media and published related tasks on a certain social task platform, attracting the attention of many new project followers and reward enthusiasts.

In the current market environment, the full-chain protocol track is expected to gain more follow and development opportunities. This trend is partly driven by the recent token issuances of some well-known full-chain protocols and the hype they have generated.

Experienced team background

The Analog team members have extensive experience in the cryptocurrency industry and have participated in several important projects.

Founder Victor Young is one of the core developers of the Analog protocol. According to the project's white paper, Young has investment experience in multiple fields, including Web3, shipping, logistics, and payments. He is also proficient in technical areas such as cryptography, security, and distributed systems.

Business leader Eric Wang has held positions in several well-known blockchain projects and is currently a part-time partner at a venture capital firm, as well as serving in advisory roles for some blockchain projects.

Product Manager Avneet Singh previously served as a Product Manager at a well-known oracle project; another Product Manager Sanchal Ranjan was an entrepreneur supported by a famous startup incubator.

In addition, some team members of Analog have also worked in the core development team of a well-known public chain ecosystem.

Four Core Concepts

Analog is a full-chain interoperability protocol based on Proof of Time (PoT), built on Timechain, and employs Zero-Knowledge Proof (ZKP) technology to enhance security. The Analog protocol introduces four core concepts: Timechain, Proof-of-Time, Analog Watch, and GMP.

Timechain is a Layer0 network supported by Proof of Time (PoT) consensus, aimed at providing a unified solution for cross-chain communication. It allows platform builders to easily link their sovereignty into other ecosystems while enabling dApp developers to communicate and access liquidity across the entire blockchain ecosystem through simple APIs.

Proof-of-Time (PoT) is a decentralized consensus algorithm that allows any node to participate in block proposal and confirmation, without being limited by hardware or financial resources. The selection of validators is based on ranking scores and fixed staking, rather than the large staking requirements found in traditional PoS.

Analog Watch is a full-stack indexing and querying protocol built on Timechain, including the open-source Watch SDK and hosted services (Watch UI). It addresses the data accessibility issues in Web3 through a decentralized and encrypted approach, allowing users to retrieve and manage smart contract data more flexibly.

Analog GMP is a composable interoperability platform built on Timechain, designed to extend cross-chain dApps in a multi-chain ecosystem. It allows smart contracts on different chains to transmit arbitrary messages, achieving true General Message Passing (GMP). The security of Analog GMP comes from Timechain, supported by permissionless Nominated Proof-of-Stake (NPoS), which mitigates the risk of single points of failure.

Future Development and Token Economy

Analog plans to launch its testnet in the first quarter of 2024, with the mainnet also coming soon. Currently, participating in the testnet is one of the main ways for users to earn potential token rewards.

According to the published token economic model, the maximum supply of Analog's tokens is 90,579,700, of which:

• Team and Advisors: Approximately 17.21 million (19%), 4-year vesting period
• Treasury: approximately 13.22 million (14%), instant unlocking upon launch
• Private placement: approximately 24.27 million (26%), 2-year vesting period
• Community allocation: approximately 34.42 million (38%), including ecological funds, staking rewards, or airdrops, instant unlock.
• Public Offering: Approximately 1.44 million (1.6%), instant unlock

Currently, Analog has reopened registration for the testnet. Users can register with their email to obtain early access qualifications and complete social tasks on the official website to earn points.