Analog Secures $16M Funding for Cross-Chain Communication Tools
Analog has raised $16 million in a recent funding round led by Tribe Capital, bringing its valuation to $120 million. The funds will be used to develop blockchain interoperability tools and advance cross-chain communication.
The funding round saw participation from various investors, including NGC Ventures, Wintermute, GSR, NEAR Foundation, Orange DAO, Samara Asset Group, and others.
Analog founder Victor Young highlighted the need for cross-chain interoperability and expressed excitement about the company’s vision to create a seamless blockchain ecosystem. The funding will accelerate Analog’s efforts to pioneer cross-chain communication in the blockchain space.
Analog’s Infrastructure for Blockchain Developers
Through projects like Timechain, Analog Watch, General Message Passing (GMP), and Timegraph SDK, Analog aims to build infrastructure that enables innovation without barriers for blockchain developers.
The company is developing all the necessary features for cross-chain development as a single toolkit, eliminating the reliance on third-party solutions such as oracles.
Analog Testnet Launches with Experimental Features
In December 2023, Analog launched its Testnet and opened registration for users. The Testnet allows users to explore experimental features and provides developers with valuable feedback from the community.
Key components of the Testnet include Analog Watch and the Watch SDK, as well as an early version of General Message Passing on the Timechain.
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