The post Cross-Chain Interoperability Protocol Analog’s Native Token Goes Live On 4 Major Exchanges appeared first on Coinpedia Fintech News
Timechain creator Analog is celebrating another major milestone, following its successful testnet phase, mainnet launch and token generation event with simultaneous listings on four major global crypto exchanges.
The ANALOG token is going live on KuCoin, Bitget, MEXC and Gate.io in a move that will enhance exposure to one of the most executing blockchain interoperability projects around.
Analog has generated a lot of excitement among Web3 enthusiasts due to its promise of enabling secure, trustless blockchain-to-blockchain communications at a time when the industry is becoming increasingly fragmented. Built using the Substrate SDK, its goal is to become nothing less than the centerpiece of blockchain interoperability, facilitating the network interactions that are a must-have for Web3’s broader adoption.
It’s well known that the blockchain industry today is made up of numerous “walled gardens”, or isolated networks that struggle to talk to one another. This has resulted in fragmented user bases in the Web3 industry and a serious lack of liquidity due to the inability to easily transfer digital assets across ecosystems. Analog solves this by giving dApp developers and users a secure way to integrate and navigate across diverse blockchain networks with minimal hassle or fuss.
Analog’s key innovation is the Timechain, which is a custom-built Layer-0 network powered by the Proof-of-Time protocol. It serves as both an accountability layer and also a cross-chain communications engine, secured by a diverse and decentralized set of validators, known as “Time Nodes”, that verify transactions and propose new blocks in exchange for rewards.
The ANALOG tokens play a key role within the Timechain as its native cryptocurrency. Users can stake ANALOG to help secure the network as validators, use it to pay transaction fees, and also participate in governance, both by proposing changes and voting on those proposals. It helps to incentivize participation while ensuring the integrity of its inter-chain communications.
Analog’s overriding mission is to fix liquidity fragmentation within the Web3 industry, enabling value to be transferred across any two blockchain networks or dApps in a seamless, secure, trustless and low-cost way. In doing this, it means dApps and their users will be able to access liquidity from the broader Web3 ecosystem in a single click, similar to the way the HTTP protocol facilitates efficient communication across the entire internet.
Having launched its mainnet in December, the simultaneous listing of ANALOG across KuCoin, Bitget, MEXC and Gate.io is a critical milestone that should bring much broader exposure to the project. The token will become available for trade on all four platforms via the ANALOG/USDT trading pair from 11 a.m.. UTC on February 10, with both deposits and withdrawals supported. They will significantly boost liquidity, with early adopters who participated in ANALOG’s public sale, and those who received tokens via its airdrop being able to trade those assets, while everyone else can join the party. Already, Analog boasts a healthy ecosystem that includes more than 380,000 individual users who participated during its testnet phase.
ANALOG’s broader availability will also help to accelerate the growth of more than 50 decentralized applications already building on the network, including the likes of Zenswap, Pixelport, Frax Finance, StationX, XYO and Parami Protocol.
