Pantos Launches Beta Version for Multi-Blockchain Token Deployment

02/15/2023 16:25 • NFT Newsflash • 1498 views

It is reported that Pantos is an encryption protocol designed to allow tokens to be deployed on multiple blockchain networks. It said that its beta version has been launched. Pantos test network supports seven chains: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom. （CoinDesk）

Multi-chain token system Pantos launched a beta version

Interpret the above information:

Pantos, an encryption protocol for multi-blockchain token deployment, has launched its beta version. According to CoinDesk, the protocol enables tokens to be deployed on multiple blockchain networks. The test network now supports seven major chains, including Ethereum, Polygon, Avalanche, BNB, Cronos, Celo, and Fantom.

This development is significant and could impact the broader blockchain ecosystem as it addresses the issue of interoperability. As blockchain technology is continuously evolving, different networks use varying consensus mechanisms, block times, and programming languages, which hinder cross-chain token mobility. This problem affects liquidity and increases transaction costs, making the growth of the decentralized finance (DeFi) ecosystem challenging.

Therefore, Pantos, created in coordination with TU Wien (Vienna University of Technology), aims to solve this problem by establishing a universal token standard across multiple chains. Its encryption protocol and cross-chain capabilities allow users to transfer tokens between different networks without a centralized intermediary. As a result, Pantos’ solution bridges the gap between blockchain networks, enabling easy and seamless peer-to-peer transactions.

Moreover, the involvement of seven major blockchain networks makes it easier for developers to create and run decentralized applications. Developers no longer have to learn and integrate various protocols for different chains. Instead, they can use Pantos’ standardized protocol, which has gained support from major industry players, such as Binance, Bitpanda, and ShapeShift.

In conclusion, Pantos’ beta launch is a significant milestone toward a more integrated blockchain ecosystem. Its solution tackles the issue of cross-chain token mobility and facilitates easy, efficient, and cost-effective peer-to-peer transactions. Pantos distinguishes itself from other multi-blockchain token solutions by creating interoperability across different networks, not just within one network. This breakthrough could create opportunities for wider blockchain adoption and the growth of the DeFi ecosystem.

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Pantos Launches Beta Version for Multi-Blockchain Token Deployment

Multi-chain token system Pantos launched a beta version

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