Navigating the Multichain Future with Pantos: Insights from Bitpanda’s latest Brainfood Session

The Origins of Pantos

Initiated in 2018, Pantos predates our popular BEST token and was the first token project spearheaded by Bitpanda. Its creation was motivated by the rapid proliferation of blockchain platforms such as Ethereum, Cardano, and Solana, each with distinct features but lacking effective means for cross-communication.

The project was kickstarted through an ICO that raised funds equivalent to 616 BTC, approximately 4 million euros at the time. Through strategic asset management and careful utilization of these funds, Pantos has not only sustained its development but has grown its resources to over 24 million euros without the need for additional funding rounds. This financial stewardship has enabled us to advance a system that allows tokens to traverse and operate across multiple blockchain environments seamlessly. This multi-chain token framework is bolstered by rigorous research initiatives, including the Token Atomic Swap Technology (TAST) project and subsequently the advancements at the Christian Doppler Laboratory for Blockchain Technologies for the Internet of Things (CDL-BOT), in collaboration with TU Hamburg and TU Wien.

Pantos is more than just a technological venture; it is a scientific exploration supported by serious academic inquiry. Our partnerships have played a pivotal role in advancing the blockchain interoperability agenda within the scientific community. Our research contributions have garnered recognition in several of the world's most prestigious academic journals. These collaborations focus on creating innovative solutions that facilitate a more interconnected blockchain ecosystem.

Explaining Pantos at the Brainfood Session

Our recent Brainfood session utilized a multi-level approach to demystify Pantos, ensuring that everyone from beginners to seasoned professionals could grasp the concept:

For Beginners: Explained to a Child

Denys, Senior Engineer, introduced Pantos with an analogy perfect for a child: Imagine you have colorful marbles that can only be played with at home. Pantos acts like a magic tunnel, allowing these marbles to travel to a friend's house and be played on different boards—much like tokens moving across various blockchains.

For the Technically Inclined: Explained to a Friend

Luis, Product Manager, explained Pantos to a tech-savvy friend by emphasizing its technological capabilities: It's like bridges connecting islands, where each island is a blockchain. Pantos allows data and assets to move freely between these islands using advanced cryptographic methods to ensure security and authenticity.

For Industry Professionals: Explained to a New Manager

Markus, Lead Blockchain Engineer, offered a detailed explanation suitable for industry insiders, highlighting Pantos' design to be decentralized, secure, and scalable, connecting multiple blockchains without intermediary structures to enhance robustness and reduce failure points.

Pantos and the Path Towards True Decentralization

In the blockchain space, true decentralization is often claimed but rarely achieved. Many interoperability projects currently claim decentralization while operating under multisignature or similarly semi-centralized configurations. Pantos is dedicated to evolving beyond these early structures towards a genuinely decentralized model.

Our approach to achieving decentralization is methodical and backed by years of research, aimed at providing a robust and secure framework during the transition. This strategy allows us to refine and perfect the mechanisms of decentralization in a controlled and gradual manner. By collaborating with esteemed academic partners such as TU Hamburg and TU Wien, we ensure that each phase of Pantos' evolution is supported by rigorous research and innovative technological solutions. This approach not only guarantees the highest level of security and state-of-the-art technology but also helps avoid the pitfalls encountered by many other interoperability projects in the past.

As we advance towards the anticipated mainnet launch later this year, Pantos together with the new Bitpanda Crypto Hub stands as a beacon of progress in the blockchain space. Our technology not only increases the utility of existing digital assets but also opens doors to new applications and broader blockchain adoption by traditional businesses.

Join Us on This Innovative Journey

If you're passionate about blockchain technology and eager to make a mark in this evolving field, consider joining our Crypto Hub. We are actively seeking talented individuals who are ready to explore, innovate, and contribute to projects like Pantos. Check out our job listings and become part of a team that’s shaping the future of blockchain technology.