News • 5 min read
By Eric Demuth
We are happy to announce our newest project, Pantos. It is an open-source, open-innovation driven project for decentralised cross-chain token transfers.
We are happy to announce our newest project, Pantos. It is an open-source, open-innovation driven research project, which aims to foster cooperations among blockchain projects and set new, innovative standards for decentralised cross-chain token transfers.
At Bitpanda, we have always believed in the potential of open source technologies and we made innovation a core value for our company. Following this philosophy, we are proud to announce our Technology ICO (Initial Coin Offering) called Pantos.
Pantos is a scientific research project conceived by the team behind Bitpanda, who joined forces with scientists from the Technical University of Vienna, the Austrian Academy of Sciences and the Research Institute for Future Cryptoeconomics (RIAT).
Together we started an R&D project, which aims to provide a possible key open source technology called TAST, the Token Atomic Swap Technology. The objective of Pantos is to create an open-source system, which will bring blockchains closer together and prospectively provide one of the core technologies in a tokenised world.
To bring this vision to life, Pantos is seeking to allow blockchain projects to talk to one another in a standardised way and transfer value from one chain to another frictionless and with ease. Hence, this will speed up innovation, because it creates a link between separate blockchains so that they can scale and grow together.
Following on from Bitcoin, many digital currencies based on blockchain technology have been launched into the market, each with their own specifications and protocols.
Having so many blockchains on their own, starts to become a problem when you consider the inefficiencies introduced when they start competing for investment, development resource and market share. This competition could lead to problems, if research and development efforts are not shared and communicated effectively between them.
In a fragmented environment like this, projects risk ending up as separate islands which ultimately slows down the blockchain adoption.
We asked ourselves why there has to be a dominant blockchain in the first place. A future of multiple blockchain networks is very likely. There will be a world of diverse blockchains with each serving their specific use-case and specifications. A decentralised public blockchain is always a self-contained network and will remain isolated from other blockchains as its data and assets can only ever be sent on its own network.
Right now, they can not be transferred to another blockchain without the involvement of a counterparty. But what if you could shift your tokens from one chain to another without friction? Pantos aims to do just that by creating the first multi-blockchain token system.
Pantos aims to end the fragmentation of digital currency markets. There is a noticable and commendable trend towards a global standard in building and sharing digital currency tokens. Pantos exists to serve as a lighthouse to bring these standardisation and interoperability development goals together.
By partnering with major blockchain platforms, Pantos will connect these blockchains and allow the seamless transfer of value between them. Our vision is to bring all major projects together, improve communication and set standards for cross-chain tokens and have the teams responsible for the major blockchain projects involved. Together we can work out all the details about the issuance of PAN tokens on every blockchain and determine best practice procedures.
Pantos will take advantage of Atomic Swap and Lightning Network technology and provide smooth, real-time cross-chain token transfers. This will greatly facilitate the mainstream market access to decentralization technology. By following an open and unifying approach, we aim to encourage cooperation between various projects in the crypto-economy. Only together we can determine best practices and set a new standard for cross-chain token transfers. We believe that as a collaborative community, synergies can be used more efficiently.
Pantos will enable near-real-time arbitrage trading, resulting in increased volumes across all decentralised marketplaces and an expected increase in demand for PAN tokens. Traders can exploit emerging price differences between digital currency pairs.
Pantos will act as the common denominator, providing flexibility, stability and liquidity. It enables a close to real time arbitrage which will increase the volume on all the decentralised markets and drive up the demand for Pantos. This was not possible previously between blockchains, due to missing a common denominator token.
Pantos will bring different blockchains, teams and researchers closer together and boost blockchain’s mass adoption. The whole community, developers and users alike, will benefit from Pantos’ open source technology.
Pantos can protect supported digital currencies from governance issues and instability as the possibility of transferring between blockchains offers to future-proof onboarded projects. Should, for any reason, a project no longer be actively maintained by developers, users can at least protect their token value by migrating to another stable blockchain. The risk of getting stuck on abandoned projects is eliminated.
Measuring real-time PAN usage and distribution among blockchains. Pantos will lead to the creation of the first common denominator token and the introduction of a new crypto-economic index: the Blockchain Dominance Index. This index would show real-time token usage and distribution among blockchains and can measure each individual blockchain’s relative significance. This means, valuation based on actual utility, not future speculation.
Pantos is a newly coined word consisting of Pan (= everything) and Tos (= token system). The “everything token system”.
Support our efforts to bring the blockchain community closer together and participate in the Pantos Technology ICO. To do so visit the official Pantos website www.pantos.io.
For regular updates on Pantos you can also follow our official channels:
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