Pantos, a multichain token system that was developed by the Bitpanda workforce, has introduced the general public beta launch of its multichain protocol in the present day. The public beta will enable customers and builders to ship tokens, wrap the native foreign money of supported chains, and can quickly allow customers to simply generate and deploy multichain tokens with only a few clicks.
PANDAS (Pantos Digital Asset Standard) is the identify of the brand new Multichain Token Standard that Pantos is introducing. The purpose of this commonplace is to make a totally multichain token system accessible to most of the people and to allow safe and clean Web3 interoperability. Pantos presently helps seven chains on testnet, together with Ethereum, Polygon, Avalanche, BNB, Cronos, and Fantom; the corporate has plans to steadily combine different EVM and non-EVM chains.
The overwhelming majority of in the present day’s Web3 apps and bridges don’t present the extent of safety or a fluid person expertise that’s essential to make Web3 options accessible to a wider viewers. Pantos intends to treatment this case by offering builders with reliable infrastructure and the suitable instruments, making it easier for them to create and deploy multichain property.
A Catalyst for Web3 and Widespread crypto Adoption
Pantos was initially created as an in-house analysis undertaking by Bitpanda in 2018, and it was later expanded to incorporate collaboration with TU Wien (Austria) and TU Hamburg (Germany) with a view to create an open commonplace for fully decentralized multichain token transfers and blockchain interoperability. After a number of years of ground-breaking analysis within the disciplines of oracles, relays, good contracts, and blockchain effectivity, the general public beta has lastly been launched.
As a part of the Christian Doppler Laboratory Blockchain Technologies for the Internet of Things (IoT), Pantos and its researchers on the universities function one of many largest blockchain analysis labs on the earth. They have been profitable in acquiring funding for the undertaking from the Austrian authorities. Pantos is ready to make the transition from a analysis undertaking to a fully-functional resolution that’s supplied to finish customers and builders in a means that’s simple and straightforward to make use of with the help of Bitpanda’s enterprise abilities.
Eric Demuth, CEO and Co-Founder of each Pantos and Bitpanda, mentioned: “We are thrilled to introduce the public beta after years of research in collaboration with some of the most reputed universities in Europe. We believe that Multichain technology will be a catalyst for Web3 and foster widespread crypto adoption. Pantos offers users the simplest way to access a multichain Web3.”
Additionally, Bitpanda will likely be one of many first corporations to embrace the multichain token system developed by Pantos. Pantos has additionally established a cooperation with an important monetary establishment in Austria, Raiffeisen Bank International (RBI), which is collaborating with Pantos on the event of blockchain interoperability options. Pantos’ native token, often called PAN, can now be traded on the cryptocurrency exchanges Bitpanda and N26.
Free Transfer of Digital Assets Between Blockchain Protocols
Pantos researchers are engaged on an answer that may allow customers to simply switch digital property of any variety between a number of blockchain protocols in a way that’s really decentralized and trustless. With the assistance of the brand new PANDAS-20 commonplace, builders may have the flexibility to deploy property on quite a few totally different blockchains with out having to carry out any upkeep work.
Users or digital creators who’re however wouldn’t have the required coding abilities may have a neater time deploying their very own multichain tokens. Pantos’s public beta model has a dependable validation technique to make sure a trouble-free launch, although the long-term purpose of the undertaking is to evolve into a very decentralized open-source protocol with PAN serving as its personal gasoline token.
This means, the workforce will be capable to assure that the community won’t be weak to assault whereas it’s nonetheless in its toddler phases earlier than it progressively transforms into a very decentralized system. Pantos is a protocol that’s open-source and is working towards the purpose of constructing Web3 absolutely interoperable. Its mission is to develop into a facilitator for the event of complicated Web3 purposes.
The cutting-edge know-how of Pantos makes it potential for current and upcoming tokens to be deployed on a number of blockchain networks. This supplies customers with the selection to pick out the blockchain community that’s the most acceptable for his or her digital property. In 2018, it performed an Initial Coin Offering (ICO) on Bitpanda, which resulted within the acquisition of funding totaling $12.1 million.
