Pantos Launches Public Beta of Its Multichain Token System

Twitter icon  •  Published il y a 1 an  •  Hassan Maishera

Pantos, a multichain token system conceived by the team behind Bitpanda, has launched the public beta of its multichain token system.

Pantos, a multichain token system conceived by the team behind Bitpanda, has announced the public beta launch of its multichain protocol on Tuesday, February 14. 

According to the press release shared with Cryptowisser, Pantos said developers and users would be able to use the public beta to send tokens, wrap native coins of supported chains, and soon also create and deploy multichain tokens easily with a few clicks. 

The Pantos team added that it is also introducing a new Multichain Token Standard called PANDAS (Pantos Digital Asset Standard). PANDAS is designed to bring a truly multichain token system to the masses, enabling secure and seamless Web3 interoperability. 

Pantos added that they currently support seven chains on testnet: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom. The team also plans to integrate more EVM and non-EVM chains continuously.

Pantos Seeks To Boost Web3 Adoption

According to the Pantos team, the majority of today's Web3 applications and bridges lack the security and smooth user experience needed to bring Web3 functionalities to the masses. 

However, the project seeks to improve this by offering a reliable infrastructure and the right tools to empower developers to easily create multichain assets.

Pantos’s public beta comes out after years of ground-breaking research in the fields of oracles, relays, smart contracts and blockchain efficiency. 

While commenting on this latest development, Eric Demuth, CEO and Co-Founder of both Pantos and Bitpanda, said;

“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.”

With the help of Bitpanda, Pantos has been able to transition from a research project to a fully-functional product available to end users and developers in a simple and accessible way. 

Pantos added that Bitpanda would also be one of the first adopters of its multichain token system. In addition to that, Pantos revealed that it had secured a partnership with the leading Austrian bank, Raiffeisen Bank International (RBI), which is working with Pantos on blockchain interoperability solutions. Pantos’ native token, PAN, is currently available for trading on Bitpanda and N26.

Pantos revealed that its researchers are currently developing technology that will allow users to transfer digital assets of any kind freely between different blockchain protocols in a completely decentralized and trustless manner. 

By leveraging the new PANDAS-20 standard, developers will be able to deploy assets on a variety of blockchains without maintenance work. Furthermore, Interested users or digital creators who lack coding skills will be able to deploy their own multichain tokens with ease. 

Pantos is an open-source protocol on a mission to make Web3 truly interoperable. It aims to become an enabler for sophisticated Web3 applications. The project’s cutting-edge technology allows existing and upcoming tokens to be deployed on multiple blockchain networks. Hence, giving users the freedom to choose the most suitable network for their digital assets. Pantos secured $12.1 million in funding through an Initial Coin Offering (ICO) on Bitpanda in 2018. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.