AMA with Analog
On the 19th of March, 2022 at 13:00 UTC, Decentralized Club had the honor of hosting Peter Namisiko and Isabelle Lau from Analog for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Admin, May.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what Analog is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
Hello, Hujambo, สวัสดี, 大家好, नमस्ते, Selamat!
It’s your favorite host here again with another insightful AMA session.
Today we have the Analog Team with us and I will be hosting them for the next hour!
Let’s all welcome the guests from Analog
Hi guys! Thanks May. Happy to be here 😊
It’s good to have you over in our community!
Hi guyz. Happy to be here.
Thank you for joining us! How’s your day going?
We're doing fine. Happy to jump in right away.
Could you please introduce yourselves and your roles at Analog?
My name is Peter Namisiko, Lead Cryptographer at Analog
I'm Isabelle Lau - Product Manager at Analog
Beautiful roles! Let’s get right into the session proper.
Can you tell us the inspiration that birthed Analog and what the project is about?
Sure, let's get right into it.
Analog is the brainchild of Victor Young, a University of Waterloo computer science graduate and serial investor with decades of experience in guiding early-stage startups (web 2.0/web 3.0) into successful companies.
While working on various algo-trading bots in DeFi, Victor stumbled upon a problem that gave birth to Analog. What if we could have time-driven smart contracts in algo-trading platforms to automatically trigger actions for efficient signal trading? After conducting extensive research and sharing his thoughts with a consortium of engineers, Victor realized that validated event data is not only crucial for algo-trading platforms but also other DeFi and metaverse protocols.
Besides fixing these platforms with validated event data, we noted that the Blockchain sector is in dire need of interoperation. The problem with many current platforms is they sacrifice at least one of the key properties of security, decentralization, and scalability. Together with interoperation, these problems made us select the proof-of-time (PoT) as the current solution for the sector post-2020.
What if you don’t necessarily need to bridge and pool assets together on one super chain? If you can see what is happening on each chain, you can automate transactions on multiple chains; then you can trade multi-chain via a centralized order book that queries data from Analog. For example, I can be on Uniswap (Ethereum), and you can be on Serum (Solana), and we should be able to trigger automatic transfers between two chains.
This is impressive!
Can you tell us what innovative solution Analog is bringing to DeFi in cryptocurrency?
Yes we can
Despite the promises that the DeFi sector promises, virtually all DeFi protocols are either layer-1 or layer-2 chains with distinct characteristics such as consensus protocols, hashing algorithms, block structures, and communities.
This not only limits cross-chain communication but also creates liquidity fragmentation.
For example, leading DeFi applications such as Curve and Aave can only transact using tokens that are native to their underlying networks, isolating them from a majority of liquidity in non-native Blockchains.
Our mission is to build an interoperable infrastructure that is:
- Open and permissionless
- Forever decentralized
- And bigger than just DeFi
Can you briefly talk about the features of your platform?
Most Blockchains these days fall into the categories of proof-of-work (PoW) or proof-of-stake (PoS). At Analog, we believe decentralized consensus is the single most essential attribute of any Blockchain. It ensures that the network is distributed and immutable.
In a decentralized consensus, all nodes should have fair (equal) opportunities when it comes to updating the ledger. There shouldn’t be any barrier to participation in the consensus processes. PoS is certainly more advanced than Nakamoto’s proof-of-work (PoW) in terms of speed of transactions and scalability.
However, PoS doesn’t address the trilemma challenge well, especially when it comes to security and decentralization.
In Analog, any user can propose a block in a random fashion. Once the block is proposed, a randomized set of 1,000 other users confirm the block. Also, users self-select themselves through a verifiable delay function (VDF) protocol.
The protocol achieves these mechanisms through:
- Verifiable delay function
- Ranking score (modeled along with Google’s page rank algorithm)
- Threshold cryptography
Wow. So detailed!
How do we acquire your native token and why is it important to be held from an investment perspective?
The world is in dire need of a decentralized, secure, and scalable, interoperable platform such as the one we are building.
Unlike current solutions that are largely centralized, we want to achieve a completely decentralized interoperable platform. Any node can participate as a tesseract and fetch event data/relay messages.
Any node can join and propose/confirm blocks without being hindered by the hardware or money. You can learn more about acquiring $ANLOG tokens from this link: https://www.analog.one/analog-token/
We're currently not listed yet, but you can join our Telegram community and our Discord server for updates on this!
Telegram Community Channel: https://t.me/analogtimer
Telegram Announcement Channel:
What are the major plans on track for completion this year by Analog?
We have lined up exciting things for 2022!
-Alpha testing of the Testnet
-Launch of the mainnet
We also were recently selected to be included in the BNB Chain #MVBIV Incubation Program! This is a huge boost for the project and we can't wait to see where it takes us!
In celebration of our inclusion in the Binance #MVBIV Incubation program, we're hosting a special airdrop with a reward pool totaling 5,000 USD! Click here if you're interested: https://medium.com/@analogtime/analog-reveals-airdrop-to-mark-inclusion-into-bnb-chain-mvbiv-incubation-program-324174c4af30
You can also read more about the upcoming milestones on our roadmap here: https://www.analog.one/roadmap/
Very impressive roadmap! Surely looking forward to hearing good news from ANALOG this year!
It’s now time to take questions from our Twitter community
Segment 2 - Twitter Questions
Why the push towards omnichain interoperability?
Twitter Username: @EwuosoOlusesi
Great question! @ewuoso
No single Blockchain can solve everything.
Therefore, the ability of multiple siloed chains to interact meaningfully with one another through interoperability is necessary to unlock opportunities for a wide range of Blockchain-enabled solutions.
Our interoperability approach is different from cross-chain connectivity which focuses only on two chains or multi-chain interactions that enable multiple chains to connect to a single network but not to each other.
As an omnichain, interoperable platform, the Analog network creates a shared infrastructure where all chains interact, allowing frictionless transfer of event data.
In this regard, the Analog network allows sovereign Blockchains—each with its own consensus protocol, use case, design, and tokens—to seamlessly interoperate while benefiting from the network’s scalability and security.
The core of Analog’s interoperability feature is a communication protocol that guarantees valid trustless delivery. The protocol provides a mechanism by which separate and sovereign Blockchains can voluntarily interact while sharing only minimum requisite common interface in a private, secure, and trustless manner.
What problem is Analog trying to solve?
Twitter Username: @Flamezzi_
Analog will solve the following problems:
It seamlessly connects all the chains. The Analog network is a layer-0, omnichain protocol that allows both current and new dApps to expand beyond the realms of Ethereum Virtual Machine (EVM) or non-EVM.
A consensus protocol that addresses the trilemma problem, i.e., scalable and superfast finality times, completely decentralized, and security.
It establishes privacy mechanisms. The Analog network eliminates data privacy challenges via scalable zero-knowledge proof (ZKP) mechanisms. The network enables new use cases of secure and validated time data that businesses can use to foster network-wide insight generation.
You can dive deeper into it here in our Timepaper: https://www.analog.one/Analog-Timepaper.pdf
Please, how does Proof of Time (PoT) work?
Twitter Username: @A2O985329
The Proof of Time or PoT process starts with publishers submitting time data or tesseract nodes fetching event data from an external chain to the network.
If a publisher submits event data to the network, the time data undergoes two stages before it is appended to the Timechain: soft voting and hard voting.
Here's a diagram to help you wrap your head around it.
Under “soft voting,” a time elector collates the submitted time data, verifies the signature, and hashes it. It then performs a VDF computation, attaches the VDF proof to the hashed transaction, and broadcasts the result to the rest of the time nodes.
Under a “hard voting” process, the network generates a randomized consensus committee of 1,000 time nodes to confirm the submitted hash. The selected time nodes within the consensus committee verify the signature of the time elector, submitted hash, and VDF proof.
The VDF proof confirms that the transaction submitted by the time elector occurred after the current block height on the Timechain. A time node can either accept or reject the submitted transaction and publish its confirmation, which votes for the PoT consensus algorithm. If more than two-thirds of time nodes vote to accept the proposed block, the block gets appended to the Timechain.
Tesseract nodes can also fetch event data from external chains and submit it to the network. If this occurs, the network forms a randomized committee of 1,000 time nodes where each node can vote to accept or reject the fetched event data. If more than two-thirds of the time nodes vote to accept the fetched event data, the data gets appended to the Timechain for external subscribers to consume.
To learn more about it, you can head over to our Timepaper or read through: https://www.analog.one/how-it-works/
Great answers from a brilliant guest!
Everyone please join t.me/AnalogTimer
Analog seems to be pretty big on time data. What is time data, exactly?
Twitter Username: @MatthewUgonnaU1
Time data is any data subscribers want to measure about events in traditional applications or DApps and their associated attributes.
For example, when users load up various applications from their devices or visit decentralized platforms, they interact through a sequence of events such as timed rides, timed advertisements, timed auctions, and timed calendar events, among others.
Any interaction—whether on-chain or off-chain—creates an event that can be time-stamped and logged in with other attributes.
For example, suppose the event is booking a ride in a ride-sharing application. In that case, subscribers might want to record the expected arrival time (ETA) at the pickup destination or ETA at a drop-off destination.
Similarly, an event can also occur in dApps, like the case when a user is rewarded a non-fungible token (NFT) in a particular virtual platform. Since the Analog network is a multi-chain ecosystem, the platform can trigger actions such as the confirmation time for receiving the NFT in other Blockchains like the Sandbox and OpenSea.
Last Twitter question
Can you provide an example or two of how Analog can be applied in the real world?
Twitter Username: @ahm_alibaba
A simple example would be one involving a DeFi transaction.
Say Mr. John Doe wants to perform a transaction that will involve several blockchain platforms.
Currently that would be a troublesome affair with a tangle of processes that Mr. Doe has to endure, such as swapping his tokens across chains.
This is because current multichain bridges don’t do too well when it comes to interoperability. Additionally, with so many processes involved, the risk of making an error is higher.
With Analog’s layer-0 ecosystem boosting omnichain-level interoperability, a similar transaction would occur with much less hassle and much less effort from Mr. Doe
This is because there would be pretty much a seamless connection between the chains involved, meaning that time data triggered by the transaction would be shared across different blockchain platforms autonomically and securely.
Not only is there added efficiency and security, but there is also added convenience.
It’s now time to take questions from our live audience.
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
Great - we're ready! Peter, our head of cryptography will be tackling these. What questions do you guys have for us?
Before we do, can you please share links to your community so we can follow?
Here are our official links:
Join our communities here for the latest updates!
Telegram Community Channel: https://t.me/analogtimer
Telegram Announcement Channel:
Everyone please prepare your questions, and include the full name and role of the guest at Analog in your questions to show originality.
The group will be unmuted now.
---Chat was then opened for the live community to send in their questions---
Segment 3 - Live Questions
Dear guest, as a measure to deter bots and reward hunters, your name or Ms. Isabelle Lau's name and role has been included in questions so you can tell original ones apart!
Please prioritize such questions 🙂
1. How relevant is this project in the healthcare industry?
2. What does Analog have for developers?
Good question, First and foremost, platform developers don't have to worry about integration challenges. They only focus on developing their platforms. Second, DApp developers have access to a global liquidity available in different chains unlike the current environment where liquidity is siloed.
What are you doing to show the world that ANALOG isn't just a useless blockchain solution to a problem that doesn't exist? How is the community in ANALOG team eyes?
The problem is crystal clear. Our current landscape of time data is fragmented
The problem is crystal clear; Our current landscape of time data is fragmented, disconnected and operates in isolation. We needed to create a solution for this to solve the challenges of time data interoperability.
We believe that decentralization and interoperation are the key features that will define Blockchains post 2020. Our Blockchain is based on technologies that achieve this:
-VDF for self-selection mechanisms in the PoT process
-Threshold cryptography for secure cross-chain fetching of event data
-ZKPs for enhanced privacy
Keep ‘em coming
Jambo Mr. Peter 0.
Are the Analog Teams hiring? If yes, what positions are open and how can an enthusiast join the team? Thank you for the good work!
Peter Namisiko Namisoko, Head of Cryptography
Isabelle Lau, Product Manager
Yes - we are currently hiring! You can check out our profile on AngelList to see what positions we have open right now: https://angel.co/company/analog-6
We've been growing our team of Rust/Substrate devs and are on the look out for more - you can also head over to our careers page to browse through our job board: https://www.analog.one/careers/
Compared to $ATOM and $DOT what difference does Analog seek to make in the interoperability of networks?
Thank you for the question! While Cosmos allows interoperability, this can only allow those chains (zones) that are native to the ecosystem via IBC protocol. For example, to connect Ethereum to the Cosmos ecosystem, you’ll need a bridge, which in most cases is centralized with poor user experience. The same problem is present in Polkadot ecosystems that can only connect to their native chains through XCMP. What Analog is trying to solve is bigger than these two ecosystems. We want any Blockchain—no matter whether it’s on Cosmos or Polkadot network—to communicate seamlessly, conveniently, and truthfully.
One more to go 🥳
I saw a lot of people who can't speak English as they are from other countries so being an Ambassador is very required. I hope you knew that already. Do Analog have plans for Ambassador Programs? If yes, How can I be an Ambassador?
Yes! We’ve recently launched our own exclusive Ambassador’s program aka Become a Timelord.
To get started, follow the steps here:
Step 1: Fill out the application form: https://forms.gle/ZW5ZfHLmHWFjPgVq8
Step 2: Read up on the details of the campaign here: https://analog.one/becomeatimelord
For all of the details, visit: https://medium.com/@analogtime/analog-seeks-candidates-for-ambassador-program-9346d601caeb
Aaaaaaand it’s a wrap!
Thank you so much dear guests for your time with us today! It was a very enlightening session as expected!
Thank you guys, bye!
Thanks guys for attending our AMA today! We're thrilled that we got the opportunity to share what we at Analog have been tirelessly building. Bye! 👋
Our warm regards to the rest of the team at the Analog HQ working to make the project a success!
Thank you to all the participants for wonderful questions as well.
Until next time, do have a great day.
The AMA with Analog is now over.