Bitpanda, Europe’s leading retail broker for digital currencies, has started an open-source research project named Pantos, together with scientists from the Technical University of Vienna, the Academy of Sciences, and the Research Institute for Future Cryptoeconomics (RIAT). The project will develop the Token Atomic Swap Technology (TAST) and will release the developed work as an open-source technology.
March 9th, 2018. Austria, Vienna: Pantos will be financed by a Technology ICO, which will be capped at 1500 BTC to ensure the development of open-source technology that should enable a key technology for a token-based environment – the Token Atomic Swap Technology (TAST).
Pantos wants to solve the blockchain fragmentation problem. After Bitcoin, many digital currencies based on the blockchain technology have been launched, each with their own specifications and protocols. A future with multiple blockchain networks is very likely.
Founders of Bitpanda Eric Demuth, Paul Klanschek and Christian Trummer stated that:
“The various networks compete not only for investment, resources and market share – but also for knowledge. This is where Pantos comes into play: With the new technology and the PAN Token, for the first time, it is intended to enable valuable transfers of tokens across several blockchains.“
With it’s open source approach, Pantos will enable sustainable collaborations between blockchain projects and common technical standards for cross-blockchain transfers can be set. Pantos will be initially launched on Ethereum, with Bitcoin, Litecoin, Lisk, Komodo and Waves, all first blockchain-generation, support expected to follow soon.
The three founders also stated:
“It is particularly important to us, that the associated Technology ICO finances the new technology and research, which is why it is limited to 1500 BTC, to provide an open-source technology for the industry. It is deliberately not a start-up financing system.”
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 will be able to exploit the resulting price differences between pairs of ‘digital currencies’.
The flexible portability functions allow the PAN token to form a common denominator and thus, the introduction of a new unit designed for the crypto-economy. The Blockchain Domination Index displays the token usage and distribution among all supported blockchains in real time. Thanks to PAN, this allows the significance of each blockchain to be measured on the basis of genuine usage.
Bitpanda’s founding members are digital currency enthusiasts since the emergence of Bitcoin. Back in 2013 it was difficult to buy digital currencies in Europe, which led them to their visionary idea of Bitpanda. Since then, Bitpanda.com has grown to become Europe’s leading retail broker for digital currencies, currently offering Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash and Ripple, and fully integrated EUR trading, including in-house-developed wallet solutions for all assets.
Pantos supporters: Pantos is being supported and advised by some of the most respected projects and people in the global blockchain space. For the full list you can check out pantos.io or the Pantos Vision-paper.
You can find more information and a press kit on the official website https://pantos.io/.
Location: Vienna, Austria
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