Pantos, a multichain token system, has launched the public beta of its multichain protocol that will enable developers and users to send tokens and wrap native coins of supported chains.
The public beta will allow users to test out the new multichain system. In addition to sending tokens and wrapping native coins of supported chains, users can quickly create and deploy multichain tokens in the coming days. Currently, Pantos supports seven chains on testnet, including Polygon, Ethereum, Avalanche, Cronos, BNB, Fantom, and Celo.
Backed by Bitpanda, Pantos is introducing a new Multichain Token Standard called Pantos, Digital Asset Standard (PANDAS). Pantos seeks to bring a truly multichain token system to its users that will enable seamless and secure Web3 interoperability. This system will offer a reliable infrastructure and the right tools to empower developers allowing them to create multichain assets easily.
The researchers at Pantos are developing technologies designed to enable users to transfer digital assets between blockchains at no cost. Through the new PANDAS-20 standard, developers can now deploy assets on various blockchains in a completely decentralized and trustless manner. The public beta comes out after years of groundbreaking research by the Pantos team in different fields of relays, oracles, smart contracts, and blockchains.
Commenting on the public beta, Eric Demuth, CEO and Co-Founder of both Pantos and Bitpanda, explains:
“We are thrilled to introduce the public beta after years of research in collaboration with some of the most reputed universities in Europe. We believe that Multichain technology will catalyze Web3 and foster widespread crypto adoption. Pantos offers users the simplest way to access a multichain Web3.”
Pantos started as an in-house research project by Bitpanda back in 2018. The project was in collaboration with TU Wien (Austria), with TU Hamburg (Germany) joining the project much later. Bitpanda began the project to establish an open standard for blockchain interoperability and truly decentralized multichain token transfers. Bitpanda will reportedly be one of the first adopters of the multichain token system by Pantos.
Pantos and university researchers run one of the world’s largest blockchain research labs. This is done as part of the Christian Dopper Laboratory Blockchain Technologies for the Internet of Things. Their work has enabled them to secure project funding from the Austrian government. In addition, Pantos formed a strategic partnership with Raiffeisen Bank International (RBI) and Austrian Bank to work on blockchain interoperability solutions.