Cross-chain interoperability protocol Analog announced the completion of US$16 million in financing at a valuation of US$120 million, led by Tribe Capital, with participation from NGC Ventures, Wintermute, GSR, NEAR, Orange DAO and Mike Novogratz’s Samara Asset Group, Balaji Srinivasan and others. Analog founder Victor Young said the funding round, which began last October and closed in December, was conducted through SAFT.
It is reported that Analog is developing cross-chain communication tools to achieve interoperability of multiple blockchain networks. Its core products include Timechain, a blockchain network based on the Rust language; a universal messaging protocol; Analog Watch, a product for developers; and Timegraph SDK and API suite, allowing application builders to combine applications on multiple chains . (The Block)