Bitpanda’s Pantos Protocol Launches Public Beta to Enable Token Interoperability Across Multiple Blockchains

02/15/2023 01:24 • Blockchain Buzz • 147 views

On February 15, it was reported that the multi-chain Token protocol Pantos developed by Bitpanda, the Austrian cryptocurrency trading platform, opened the public beta. Users can use the new Token standard to complete the Token encapsulation and create and deploy Token in multiple blockchains. At present, the beta will be carried out on seven chains, including Ethereum, Polygon, Avalanche, BNB Chain, Cronos, Cleo and Fantom, and will be eventually integrated into other chains.

The public beta of the multi-chain Token protocol Pantos under Bitpanda, an encrypted trading platform

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Bitpanda, the Austrian cryptocurrency trading platform, has launched the public beta of their multi-chain Token protocol, Pantos. The protocol aims to enable interoperability of tokens across different blockchains, allowing for more efficient and flexible token usage. Users can now use the new Token standard to encapsulate and create tokens across seven chains, including Ethereum, Polygon, Avalanche, BNB Chain, Cronos, Cleo, and Fantom.

The launch of the public beta is a significant milestone for the Pantos protocol, as it will allow users to test the protocol’s functionalities and contribute to the development of the technology. With Pantos, Bitpanda aims to alleviate the fragmentation problem of the blockchain ecosystem, where different blockchains often operate in silos and cannot communicate with each other seamlessly.

By enabling token interoperability, Pantos can facilitate the transfer of value between networks, creating a more connected and inclusive blockchain ecosystem. For instance, a user can now transfer a token from one chain to another without the need for an intermediary, reducing transaction fees and improving speed.

The Pantos protocol operates on a modular framework, which enables it to integrate with various chains and deploy new modules easily. Bitpanda has announced plans to integrate the protocol with other chains in the future, giving users more options to create and deploy tokens.

The beta testing comes at a time when the blockchain industry is witnessing increased activity, with more users and enterprises adopting the technology. The Pantos protocol can play a vital role in the industry’s growth, providing a solution to interoperability challenges that have hindered the implementation of blockchain solutions.

In conclusion, the public beta launch of Pantos by Bitpanda demonstrates the potential of the protocol to enable token interoperability in the blockchain ecosystem. The protocol’s modular framework and integration flexibility make it a promising solution to the fragmentation problem of the blockchain space. It remains to be seen how successful the beta testing will be, but the development marks a significant milestone in Bitpanda’s effort to make blockchain more decentralized and inclusive.

Overall, the three keywords that best describe the Pantos protocol are interoperability, modularity, and flexibility.

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