Pantos, a multi-chain token system designed by the team behind Bitpanda, is announcing the public beta launch of its multi-chain protocol today. Developers and users will be able to use the public beta to send tokens, wrap native coins of supported chains, and soon to easily create and deploy multi-chain tokens in a few clicks.
Pantos is introducing a new Multi-Chain Token Standard called PANDAS (Pantos Digital Asset Standard) to bring a truly multi-chain token system to the masses, enabling secure and seamless Web3 interoperability. Pantos currently supports seven chains on its testnet: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom; and plans to continuously integrate more EVM and non-EVM chains.
Many of today’s Web3 applications and bridges lack the security and seamless user experience needed to bring Web3 functionality to the masses. Pantos aims to improve this by providing a reliable infrastructure and the right tools to enable developers to easily create multi-chain assets.
Pantos started in 2018 as an in-house research project by Bitpanda in collaboration with TU Wien (Austria) and later TU Hamburg (Germany) to create an open standard for truly decentralized multi-chain token transfers and blockchain interoperability. The public beta comes after years of groundbreaking research in the areas of oracles, relays, smart contracts and blockchain efficiency. Together with its researchers at universities, Pantos manages one of the world’s largest blockchain research labs as part of the Christian Doppler Lab Blockchain Technologies for the Internet of Things and has managed to secure funding for the project from the Austrian government.
Eric Demuth, CEO and Co-Founder of both Pantos and Bitpanda, said, “After years of research in collaboration with some of Europe’s most respected universities, we are excited to launch the public beta. We believe that multichain technology will be a catalyst for Web3 and promote widespread crypto adoption. Pantos offers users the simplest way to access a multi-chain Web3.”
Bitpanda’s business expertise assists Pantos in transitioning from a research project to a fully functional product delivered in a simple and accessible way for end users and developers. Bitpanda will also be one of the first to adopt Pantos’ multi-chain token system. Additionally, Pantos has formed a partnership with 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.
Researchers at Pantos are developing technology that allows users to freely transfer any digital asset between different blockchain protocols in a completely decentralized and trustless manner. Using the new PANDAS-20 standard, developers will be able to deploy assets on various blockchains without maintenance work. Interested users or digital content creators without coding skills will be able to distribute their own multichain tokens with ease.
Although ultimately aiming to be a fully decentralized open source protocol with its own gas token, PAN, the public beta version of Pantos comes with a reliable verification mechanism to ensure a smooth launch. This way, the team will ensure that the network is not hacked in its early stages before gradually evolving into a fully decentralized system.
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