The full-chain interoperation protocol Analog raises $16 million in funding, attracting industry attention

Recently, the full-chain interoperability protocol Analog has gained widespread attention due to securing $16 million in funding. Several well-known investment institutions participated in this round of financing, including some renowned venture capital firms and key players in the cryptocurrency space.

At the end of 2023, Analog announced the opening of the testnet registration activity on social media and published social tasks on a well-known task platform, attracting the attention of industry insiders and crypto enthusiasts. In the current market environment, the full-chain protocol track is expected to gain more attention and development opportunities in 2024.

Experienced Team Background

The Analog team members have extensive experience in the cryptocurrency industry. Founder Victor Young has deep investment experience in multiple fields such as Web3, shipping, logistics, and payments, with a particular focus on technologies such as cryptography, security, and distributed systems.

The business leader of the team, Eric Wang, has served in several well-known blockchain projects and has been a risk partner at a capital company. Product managers Avneet Singh and Sanchal Ranjan have work experience in mainstream blockchain projects and well-known venture capital firms, respectively. In addition, some team members have worked in renowned blockchain development organizations.

The Four Core Concepts of Analog

1. Timechain: A Layer0 network based on Proof of Time (PoT) consensus, providing a unified solution for cross-chain communication.

2. Proof-of-Time: A decentralized consensus algorithm that allows any node to participate in block proposal and confirmation, without being restricted by hardware or funding.

3. Analog Watch: A full-stack indexing and querying protocol built on Timechain, addressing Web3 data accessibility issues through decentralization and encryption.

4. GMP (General Message Passing): A composable interoperability platform in the Analog ecosystem that supports cross-chain smart contract communication and asset transfer.

Token Economy and Potential Airdrop Opportunities

The total supply of tokens for the Analog project is 90,579,700, of which 38% (approximately 34,420,000) will be allocated to the community, including ecosystem funds, staking rewards, or airdrops. The team and advisors, treasury, private sale, and public sale account for 19%, 14%, 26%, and 1.6%, respectively.

The project's roadmap shows that Analog plans to launch the testnet in the first quarter of 2024, with the mainnet following shortly after. Currently, participating in the testnet is the primary way for users to obtain potential airdrops. Analog has reopened testnet registration, and users can register via email and complete social tasks on the official website to earn points.

With the progress of the Analog project and the growing demand for full-chain interoperability, industry attention towards this project is expected to further increase.