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Analog Blockchain Launches Incentivized Testnet, Allocates 2% of Tokens for Rewards

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Thu, 23/05/2024 - 14:17
Analog Blockchain Launches Incentivized Testnet, Allocates 2% of Tokens for Rewards
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Cross-chain communication protocol and Web3 data provider Analog invites all cryptocurrency enthusiasts and entrepreneurs to experiment with its opportunities for dApp deployment.

Analog L0 blockchain ecosystem starts incentivized testnet campaign

According to the official announcement shared by its team, Analog, a multi-purpose Layer 0 cross-blockchain messaging protocol, released its public incentivized testnet version. The testnet features a full range of Analog's core products that create a powerful toolkit for cross-chain development.

Analog incentivized testnet kicks off
Image by Analog

This combination includes three major components. Analog Watch offers a full-stack indexing and query protocol, simplifying Web3 data access via a GraphQL endpoint. Developers can utilize the open-source Watch SDK or the hosted Watch Portal to streamline their workflow. 

Analog GMP (General Message Passing) provides a permissionless communication layer, allowing dApps to send and receive messages across different blockchains.

Last but not least, Timechain, an immutable ledger underpinning the Analog network, uses a combination of Nominated Proof-of-Stake (NPoS) and Proof-of-Time (PoT) protocols to ensure security, decentralization and scalability.

Victor Young, CEO and founder of Analog, highlights the paramount importance of this release for the cross-chain scene in 2024:

We believe that building a truly interoperable cross-chain ecosystem requires the insights and contributions of everyone. 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

To engage the dev community and streamline dApps' onboarding, the protocol's team introduced a number of incentives with lucrative rewards.

Analog Token Points will be exchanged for ANLOG tokens

Participating in the newly launched incentivized testnet offers a unique opportunity for developers, enthusiasts and node operators to earn rewards and play an active role in shaping the platform's future. 

Analog has allocated a minimum of 2% of its total ANLOG token supply to all testnet participants. All participants can earn Analog Token Points (ATPs) by completing different quests, including testing core functionalities, providing insights, feedback and also taking part in the Watch Game, a community event where members explore and vote on Views.

Then, ANLOG tokens will be redeemable for Analog Token Points (ATPs) after the completion of incentivized testnet campaigns.

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