Author: Meteor, ChainCatcher

Editor: Marco, ChainCatcher

Recently, the full-chain interoperability protocol Analog entered the public eye due to the disclosure of a $16 million financing, with investment institutions including Tribe Capital, NGC Ventures, Wintermute, GSR, NEAR, Orange DAO, as well as Mike Novogratz's alternative asset management company Samara Asset Group, and Balaji Srinivasan.

At the end of 2023, Analog caused a stir in the industry. It announced an open testnet registration event on the X platform and launched social tasks on Galxe, attracting the attention of some new project KOLs and enthusiasts.

"Zero friction projects, sufficient airdrop expectations, luxurious investment lineup," coupled with the recent coin issuance and heat of full-chain protocols such as LayerZero, Zetachain, Wormhole, and Axelar in the market, the full-chain protocol race in 2024 will also receive more attention and growth space.

New Projects for Crypto Veterans

Behind the favor of many investment institutions is the team members of Analog who have experience in multiple key projects in the crypto industry.

Founder Victor Young is a key figure leading the development of the Analog protocol and is also a general partner at X Fund.

The white paper states that Young invests in promising startups in the fields of Web3, shipping, logistics, payments, markets, as well as mobile and IoT devices. His areas of involvement include cryptography, security, distributed systems, full-chain frameworks, and privacy. In addition, Young also serves as an investor in multiple institutions and has years of experience in blockchain development.

Analog's business executive Eric Wang previously worked at Injective Labs and the Polkadot ecosystem development organization. He is currently a part-time risk partner at ROK Capital and an advisor at Equilibrium.

ROK Capital is a large blockchain incubator in South Korea, which previously collaborated with the Solana Foundation to launch a $20 million ecosystem fund aimed at developing the Solana blockchain ecosystem and incubating more domestic Solana ecosystem projects in South Korea.

Analog's product manager Avneet Singh previously served as a product manager at Chainlink; another product manager, Sanchal Ranjan, was a Y Combinator-supported entrepreneur.

Some members of Analog's team have previously worked at the Polkadot ecosystem development organization Parity Technologies.

Four Core Concepts

Analog is a full-chain interoperability protocol based on Proof-of-Time (PoT) and built on Timechain. The Analog network also uses zero-knowledge proofs (ZKP) to enhance security. The Analog protocol proposes four core concepts: Timechain, Proof-of-Time, Analog Watch, and GMP.

Timechain is a Layer0 network supported by Proof-of-Time (PoT) consensus. The design of this protocol provides a unified solution for seamless cross-chain communication, meeting the requirements of platform and dApp developers, allowing users and dApp developers to extract maximum value from all connected blockchain ecosystems.

For example, platform builders can easily link their sovereignty to all other ecosystems. Similarly, dApp developers only need a simple application programming interface (API) to communicate and access liquidity across the entire blockchain ecosystem. This allows cross-chain transactions to flow seamlessly between different networks, enabling users to integrate decentralized liquidity and access dApps on other chains.

Timechain acts as an accountability layer for published collections or views, allowing anyone to use the hashes stored on Timechain to prove the authenticity and tamper resistance of deployed or queried data.

According to Analog's plan, Timechain will be replaced by the PoT protocol in the future.

PoT is a fully decentralized consensus algorithm where any node (user) can join and propose/confirm blocks without being hindered by hardware or funds.

The working principle of PoT is to select validators based on ranking scores and fixed staking, unlike typical Proof-of-Stake (PoS) where validators need to stake a large amount of tokens to reach consensus. With PoT, any node can participate as a validator by staking a fixed amount of ANLOG and obtaining a ranking based on time nodes. The ranking score is an algorithmic measure of the accuracy of each block validator's historical records (the accuracy of node verification data) and the numerical weighting measure assigned by the validator to other validators.

Analog Watch is a full-stack indexing and querying protocol built on Timechain, which includes an open-source Watch SDK and hosted services (Watch UI). It solves the data accessibility problem in Web3 through decentralized and encrypted solutions, indexing data in listed smart contracts. Typically, most smart contracts only allow users to retrieve data using relevant identifiers, requiring prior knowledge of the identifier to query specific details about the smart contract. With the Watch SDK, users can now abstract most Web3 data accessibility with a few lines of code and achieve more advanced functions, including:

• Creating and managing keys.
• Deploying and querying collections.
• Deploying and querying views.

Analog GMP is a composable interoperability platform within the Analog ecosystem built on its Timechain, aimed at expanding cross-chain dApps in a multi-chain ecosystem, allowing smart contracts on different chains to transmit arbitrary messages (implementing GMP) on the platform. Analog GMP enables cross-chain messages or tokens, allowing messages and tokens to flow freely and securely on the chain. Developers can build dApps suitable for multi-chain/full-chain using Analog GMP.

Analog GMP avoids inherent cross-chain interoperability risks, with its security supported by permissionless NPoS (Nominated Proof-of-Stake) on Timechain, which has no single point of failure. Other features of Analog GMP include threshold signature schemes (TSS), allowing Timechain to act as a single entity to verify and sign cross-chain messages, as well as custom application-level security controls.

Potential Airdrop Opportunities

According to Analog's token economics, airdrops or staking rewards account for a high proportion. In addition, Analog plans to officially launch its testnet in Q1 2024 and will soon launch its mainnet. Currently, the testnet is the main way for users to obtain airdrops.

The maximum supply of Analog's token is 90.5797 million, of which:

• Team and advisors: approximately 17.21 million, accounting for 19%, with a 4-year vesting period;
• Treasury: approximately 13.22 million, accounting for 14%, with immediate unlocking upon listing;
• Private sale: approximately 24.27 million, accounting for 26%, with a 2-year vesting period;
• Community allocation: Community allocation includes ecosystem funds flowing to the Analog community, staking rewards, or airdrops, approximately 34.42 million, accounting for 38%, with immediate unlocking;
• Public sale: approximately 1.44 million, accounting for 1.6%, with immediate unlocking.

Analog recently reopened the testnet registration window, and users can currently register for the testnet via email to qualify for early access. After registration, users can complete the current social tasks on its official website as instructed and earn points.

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