Sunday, June 16, 2024
Home > Analysis > Pantos Protocol Releases Multichain Token Creator for Developers

Pantos Protocol Releases Multichain Token Creator for Developers

The Pantos Protocol is making impressive moves with respect to its plans to go fully functional with usable products.

Pantos Protocol, the blockchain network designed by the team behind the BitPanda blockchain, has announced the release of its highly innovative Multichain Token Creator as it seeks to empower developers within its ecosystem. As contained in a press release shared with Coinspeaker, the team said the Multichain Token Creator is ideal for creating cryptocurrencies that can be deployed and function on different networks.

The entire idea behind the development of the Pantos blockchain is to enable a broad token economy in the ultimate evolution of the industry. As one of its core flagship products, the Multichain Token Creator will empower developers by creating more opportunities for them.

Blockchain systems are generally known to be highly interoperable, however, the tools to help drive this innovation are almost difficult to develop. As such, we tend to see projects launching tokens that are confined within their primary underlying blockchains. This largely restricts the economics of the cryptocurrency, and limits the users to get the right benefits they ought to have when the token can be bridged to many protocols.

This is what Pantos seek to correct by launching the Multichain Token Creator.

“Our Multichain Token Creator is a defining innovation in the blockchain space, offering developers and projects an effortless way to adopt a revolutionary multichain token standard that drives unparalleled cross-chain collaboration and opens up endless possibilities for the future of decentralized technology,” said Marius Ciortan, the Director of Product Engineering at Pantos.

As described in the release, the product is on track to be showcased at the forthcoming EDCON Conference in Montenegro. This conference will be held from the 19th of May to the 23rd, an opportunity that will also push the team to unveil the Pantos Digital Asset Standard (PANDAS). The digital currencies being built by the Multichain Token Creator will be built using PANDAS.

Pantos Protocol and Steady Evolution

The Pantos Protocol is making impressive moves with respect to its plans to go fully functional with usable products. The project was conceived by the BitPanda team in partnership with TU Wien in Austria. After months of development, Technical University Hamburg joined the initiative to develop the open standard for blockchain interoperability.

The functionalities designed for the Pantos Protocol to exhibit include but are not limited to sending of tokens, wrapping of native coins of supported chains, and the creation and deployment of native multichain tokens. One unique incentive that developers get for all of these features is that they can all be done with a few simple clicks.

With thousands of different blockchain protocols around today, Pantos Protocol is launching with immediate support for Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), BNB, Cronos (CRO), Celo, and Fantom (FTM). In the near future, the team plans to expand the reach of the protocol to more EVM-compatible blockchain for wider adoption.

Blockchain News, Cryptocurrency news, News

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.