Analog Launches Incentivized Testnet, Allocating 2% Of Total ANLOG Token Supply For Participant Rewards
In Brief
Layer 0 cross-chain communication protocol and Web3 data provider Analog introduced its incentivized testnet.
Layer 0 cross-chain communication protocol and Web3 data provider Analog (ANLOG) unveiled the introduction of its incentivized testnet.
“We believe that building a truly interoperable cross-chain ecosystem requires the insights and contributions of everyone,” said Victor Young, CEO and Founder of Analog. “Our Incentivized Testnet empowers individuals to test our tools, share their perspectives, and earn rewards as they help us build the most user-friendly and powerful cross-chain data platform,” he added.
Taking part in the incentivized testnet provides developers, enthusiasts, and node operators with the chance to earn rewards and contribute actively to shaping the platform’s future. Therefore, Analog has dedicated a minimum of 2% of its total ANLOG token supply to all testnet participants.
All participants have the opportunity to earn Analog Token Points (ATPs) by completing various quests, including testing core functionalities, offering insights and feedback, and participating in the Watch Game. This community event involves members exploring and voting on Views–specialized data sets that combine information from various smart contracts across blockchains for smooth cross-chain interactions–created by developers, helping to identify the most innovative and useful Views in the ecosystem. Users earn ATPs for their contributions.
The Watch Game promotes collaboration and discovery, serving as an enjoyable and engaging means of connecting different contributors within Analog’s community. These ATPs can be redeemed for a share of the ANLOG token airdrop, providing a direct incentive for those supporting Analog’s growth. Moreover, Analog aims to introduce additional incentivized applications during the incentivized testnet period.
The Analog incentivized testnet is being rolled out in phases to ensure a seamless experience. Developers began participating on April 16th, while the wider community joined at the end of April. Phase 3, which will be open for validators, is upcoming, and all three phases will run concurrently until the end of July.
The Analog testnet is also multi-faceted. Phase 1 encourages developers to list smart contracts, build, and deploy Views. Phase 2 enables the broader community and Web3 enthusiasts to undertake social quests and provide valuable feedback. Phase 3 allows validators to operate testnet nodes to secure the network and earn rewards based on uptime and active participation.
What Is Analog?
Utilizing its proprietary Proof-of-Time (PoT) consensus mechanism, the platform’s array of protocols aims to simplify access to information and enable smooth cross-chain communication.
Its core products constitute a robust toolkit for cross-chain development. Analog Watch offers a comprehensive indexing and query protocol, simplifying Web3 data access through a GraphQL endpoint. Analog GMP (General Message Passing) serves as a permissionless communication layer, enabling decentralized applications (dApps) to transmit and receive messages across various blockchains. Furthermore, Timechain serves as an immutable ledger supporting the Analog network. It utilizes a combination of Nominated Proof-of-Stake (NPoS) and PoT protocols to ensure security, decentralization, and scalability.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
