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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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Analog Testnet open sign up, full-chain interoperability protocol secured $16 million in funding.
Analog: The New Power of Full-Chain Interoperability Protocol
Recently, the full-chain interoperability protocol Analog has raised $16 million in funding, attracting widespread attention in the industry. Investors include several well-known institutions and individual investors, such as an asset management company and some notable industry figures.
At the end of 2023, Analog announced the opening of testnet registration activities on social media and published social tasks on a certain platform, attracting the interest of many new project followers and participants.
In the current market environment, the full-chain protocol sector is expected to gain more attention and development opportunities in 2024. This trend is partly driven by the recent activities of some well-known full-chain protocols.
Experienced Team Background
The Analog team members have extensive experience in the cryptocurrency industry. Founder Victor Young has in-depth research in multiple fields, including cryptography, security, and distributed systems. Other team members also have work experience in well-known blockchain projects and investment institutions, providing a solid foundation for the development of Analog.
The Core Technical Concept of Analog
Analog proposed four core concepts: Timechain, Proof-of-Time (PoT), Analog Watch, and GMP.
Timechain is a Layer0 network based on proof of time, designed to provide a unified solution for cross-chain communication.
PoT is a decentralized consensus protocol that allows any node to participate in verification, without hardware or financial constraints.
Analog Watch is an indexing and querying protocol built on Timechain, aimed at addressing data accessibility issues in Web3.
Analog GMP is a composable interoperability platform that supports the development and operation of cross-chain applications.
These technological innovations aim to enhance the efficiency and security of cross-chain communication, providing developers and users with a better blockchain interoperability experience.
Token Economics and Future Development
The tokenomics of Analog shows a high community allocation ratio, approximately 38%. This portion includes ecosystem funds, staking rewards, or possible airdrops. The project plans to launch the testnet in the first quarter of 2024, with the mainnet to follow.
Currently, users can participate in the early stages of the project by registering for the testnet and completing relevant social tasks. This not only provides users with the opportunity to experience new technologies but may also lay the foundation for potential future token distribution.
With the growing demand for full-chain interoperability, Analog is expected to play an important role in this field. Its innovative technological solutions and experienced team background provide strong support for the long-term development of the project.