The team behind Bitpanda have announced the launch of a new project Pantos – the first multi-blockchain token system. We break down a few of the project’s principal features.
Cryptocurrency exchange, Bitpanda (formerly Coinimal), has just announced a project that they hope will lead the way towards widespread adoption of crypto, and encourage competing developers to work closely with one another.
The Everything Token System
The project’s name is Pantos – Pan meaning everything and Tos, token system. And simplified, it’s aim is to create a system that allows the seamless transfer of tokens across different blockchains. To achieve this goal, the project will utilize TAST (Token Atomic Swap Technology) that provides an open source system to bring blockchains closer together in a tokenized ecosystem and promotes cooperation between developers currently competing for investment and market share. To achieve this goal, Bitpanda has teamed up with scientists from the Technical University of Vienna, the Austrian Academy of Sciences, and the Research Institute for Future Cryptoeconomics (RIAT).
Cooperation = Faster Crypto Adoption
The Pantos project seeks to facilitate cooperation between rival developers encouraging them to work instead towards standardizing the token system, which will pave the way for faster mass adoption of blockchain technology. This is because instead of blockchains acting like ‘islands,’ they will form a network that intrinsically benefits from the sharing of research and development efforts.
PAN tokens will be future proof as the ability to transfer tokens between different blockchains eliminates the risk of token holders getting stuck on abandoned projects.
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Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.