- Pantos announces the launch of the public beta of its Multichain protocol.
- Researchers at Pantos are currently working on another project to enable users to transfer any kind of digital asset freely between different blockchain protocols.
Pantos, an open-source protocol backed by Bitpanda has announced the launch of the public beta of its Multichain protocol. This comes after years of research and a combined effort of some reputable universities in Europe. According to the release, the public beta would be well utilized by developers and users to send tokens and wrapped native tokens that are supported by chains. Another interesting aspect of this move is that users can create and deploy multi-chains with just a few clicks.
Eric Demuth, CEO and Co-Founder of both Pantos and Bitpanda stated:
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.
Pantos’ cutting-edge technology enables tokens, both the existing and upcoming ones, to be deployed on multiple blockchain networks. This means users would have the option to choose the network suitable for their digital assets.
Pantos to introduce a multichain token system
It is important to note that the team is working to introduce a truly multichain token system to enable secure and seamless Web3 interoperability. This will be done through its new PANDAS (Pantos Digital Asset Standard). Pantos plans to integrate more EVM and non-EVM chains continuously. For now, it supports seven chains on the testnet namely; Ethereum, Polygon, Avalanche, BNB, Cronos, Celo, and Fantom.
The majority of today’s Web3 applications and bridges lack the security and smooth user experience needed to bring Web3 functionalities to the masses. Pantos aims to improve this by offering a reliable infrastructure and the right tools to empower developers to easily create multichain assets.
Pantos started as an in-house research project by Bitpanda in 2018. In a bid to establish an open standard for the decentralized multi-chain token transfer and blockchain interoperability, it collaborated with TU Wien (Austria) and TU Hamburg (Germany). The public beta has been a product of four-year-long research in the field of “oracles, relays, smart contracts, and blockchain efficiency.”
Pantos together with its researchers at the universities run one of the largest blockchain research labs in the world, as part of the Christian Doppler Laboratory Blockchain Technologies for the Internet of Things and have been able to secure funding for the project from the Austrian government.
Researchers working on other interesting projects
Researchers at Pantos are currently working on another project to enable users to transfer any kind of digital asset freely between different blockchain protocols. The developers will deploy assets on several blockchains without maintenance work using the new PANDAS-20 standard.
This will make it easier for users without coding skills to deploy their multi-chain tokens. It seeks to become a fully decentralized open-source protocol with PAN as its gas token. However, Pantos public beta comes with a trusted validation mechanism to make the launch a smooth one. This will ensure that the network is free from attack in its early stages. Later, it will gradually evolve into a fully decentralized system.
