ANALOG’S REVOLUTIONARY TIMECHAIN
The evolution of blockchains have been influenced by multiple developers to be what it is today. From layer-0 protocol blockchains down to layer-2 protocols.
What is a Blockchain?
A blockchain is simply the term given to a database that is used to store digits of cryptocurrencies /assets. A database is an organized collection of data stored and accessed electronically...
You store small amounts of information within your file Folders on your computer systems, while large databases are hosted on computer clusters /cloud storage ( a chain of cross-linked computer storage) joined together by sperate servers.
A cloud storage can be said to be a model of computer storage in which the digital data is stored in "logical pools" and housed by a sperate physical storage other than the normal computer and spanned by multiple servers ....In a nutshell we store large databases on seperate servers/ clouds.
UNDERSTANDING THE BLOCKCHAIN...
Quick question? : If you stored something valuable within your computer database such as your "private collections" or a "fond memory" would u like it to be publicly viewed or secured from prying eyes? If course I’d rather it be secured from prying eyes.
And so, I’d do everything in my power to encrypt that data such that it isn’t readily available to all but to individuals given private access..... Now that is what we call a “CONSENSUS MECHANISM”.
A “CONSENSUS MECHANISM” is a method for validating entries into a server-distributed database and what keeps the database secure.
In a way you could say it is a password to unlocking your small file folder within your computers but this time with a higher /more complex algorithm and code.
Now what separates $ANALOG from others is its "CONSENSUS MECHANISM"...
Ethereum uses the Proof-of-Stake consensus mechanism to secure their database.
BTC uses the Proof-of-Work consensus mechanism. I do not wish to go deeply into how their consensus mechanism works but know this👇🏼
Satoshi Nakamoto introduced the first consensus mechanism “The Proof-of-Work”. The Proof of work (PoW) is a decentralized consensus mechanism that requires members of a network to expend effort solving an arbitrary mathematical puzzle to prevent anybody from gaming the system. Proof of work is used widely in cryptocurrency mining, for validating transactions and mining new tokens.
The next most used blockchain is Ethereum. Ethereum uses the Proof-of-Stake consensus mechanism which randomly selects miners to validate transactions (this system has been shown to have loopholes as it has already been hacked before).
ANALOG is the world’s first layer-0 omnichannel protocol blockchain which utilises the Proof-of-Time consensus mechanism to validate time data.
(Proof - of- Time) ....
Please Note that the Proof-of-Time is $ANALOG’S consensus mechanism used to validate and secure your data...
ANALOG’S emphasis is on time data. So it harnesses time to serve as witnesses to your stored database.
Now time is what all devices have in common no matter your location or Time Zone.. Time is always present.....
We can’t exactly call the place where we store time information the “Blockchain” so we call it the #Timechain.
The #Timechain’s consensus mechanism establishes a radically decentralized, secure and trustless base where multiple networks like Bitcoin & Ethereum anchor their transactions.
Unlike other Blockchains - API’s (Application Programming Interface) that involves the use of third party oracles, ANALOG’s #Timegraph API allows individuals to become their own oracle’s... So Goodbye transaction fees 😊
The #Timegraph API can be integrated into nearly all interfaces allowing for cross-chain transfer of time data between dissimilar blockchains.
Some important features of the Proof-of-Time consensus mechanism
1.) Interoperability- One key feature of the ANALOG network is its ability to connect to multiple blockchains by utilizing a bridging mechanism called the TESSERACT which allows developers interact with the TIMEGRAPH API and allows them write codes suitable to their network.
2.) Security- ANLOG uses “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-SNARK) which is a crytpographic tool allowing one party to verify without spilling any of its data information publicly.
3.)Decentralization- making other networks transactions such as Bitcoin, Ethereum & others anchor their transactions in ANLOG as it prioritizes interoperability establishing a radically decentralized, trust less layer-0 & secure Blockchain.
4.)Scalability (Transaction Speed)- ANLOG can perform as high as 65,000 processed verified transactions per second (tps) & a block time of 1μs at a 1.1 Gbps network. Interconnecting tons of nodes. Making it as high as other blockchains.
5.) Solve Problems- TIME EFFICIENCY PROBLEMS As core use-cases of ANLOG is the communication of time data & as time being a difficult to track & control, ANLOG takes part in between the transactions from different networks. Verifying time data making the communication run smoothly avoiding delays & transaction cancelations…
6.) Usability- ANLOG usability relies on time data that can be harnessed from different nodes. As such, ANLOG automatically trigger other networks' smart contracts once it is needed. In other words, ANLOG has no button or app for transaction purposes for now. Although ANLOG has a social App the ANALOG APP where you can create ANLOG. You can create your own time frame on each posts and the elapsed time is being recorded on the app.
7.) Demand & Supply (ANLOG TOKENS)- ANLOG is looking forward to being a huge hit in the market. As ANLOG is becoming more & more known to the public ANLOG will create an enormous demand as it has many use-cases and applicable to real life situation problems. The higher the demand of ANLOG, the higher price ANLOG TOKENS will be in the market. The developers team already allocated an estimated amount of supply for every utilities. Distributing 38% for community allocations, 1.6% public sale, 22% Team compensations, 25.9% Private Sale & 12% for Foundations, community-governed grant pools & other incentives like participation rewards.
This is enough to not to be over or short in supply to mentain an exceptional token price
In all, ANALOG Timechain is desperately needed in today’s crypto ecosystem and is a project to die for..