Pantos Project Update: PAN trading on the 26th of July 2018, ERC20 support and research progress
Recently we announced that ERC20 support and certain tokens will be coming to Bitpanda in July. This means, that soon you’ll have a wide selection of different ERC20 tokens on Bitpanda, with a first batch including 0x (ZRX), Augur (REP) and OmiseGo (OMG). But it also means, that the groundwork for the integration of PAN has now been completed.
Like we described in the last Pantos blog post and in the first TAST Technical White Paper, we evaluated that Ethereum will be the first blockchain on which PAN will run. Thus, in its first iteration PAN will be an ERC20 token.
PAN buying and selling (trade only)
After the successful implementation of ERC20 and ongoing support for certain ERC20 tokens on Bitpanda, PAN trading (buying and selling) will be available on Bitpanda from the 26th of July 2018.
The process here is the same that has already been used for other cryptocurrencies new to Bitpanda. Like most recently for example with Komodo and IOTA: First Bitpanda offers a trade only (buying and selling) option, after extensive testing and quality control, a fully functional wallet (including withdrawal and depositing) will be available.
Bitpanda will do the market making for the PAN token at first. As we always do, but this time we actually put our own algorithm into play when deciding to offer the bids and asks. The price will be calculated by supply and demand, with Bitpanda providing bid / asks on its own books for Pantos. As soon as an exchange lists PAN (after ERC20 has been included), the price will be the same as on the exchange because of arbitrage.
PAN withdrawal and depositing (full wallet)
The time needed to go from trade only to full wallet integration may vary, as it depends on the final testing phase to ensure high security and functionality. For the Ethereum integration of PAN, we will closely work together with renowned Ethereum experts including our project partner the Institute for Future Cryptoeconomics (RIAT).
We don’t want to be too specific here, but you can expect a full wallet integration for PAN around a month after the implementation of the trade only option. You will then be able to either withdraw PAN to or deposit PAN from any other ERC20 compatible wallet.
TAST and PXTT research progress
Meanwhile, TAST, the research project of Pantos, is showing promising progress. The research team is finalising a research paper which presents Pull-Based Cross-Chain Token Transfers (PXTT). The novel PXTT protocol provides a decentralised approach for cross-chain token transfers, which can be used to bring together and connect various blockchain, foster collaboration in the cryptocurrency world, and mitigate user risk caused by lock-in to a specific blockchain.
The upcoming article describes in detail how such transfers can be realised without a central trusted authority. It will be submitted to the Ledger journal within the next weeks, and provided that it is accepted by the reviewers, will be publicly available on the open-access website of the Ledger journal.
Apart from this research paper, the next regular TAST Technical White Paper, containing a report of the project’s technical progress, is scheduled for the end of August 2018. The research team has been working hard on extending the PXTT protocol in order to further enhance its feasibility and efficiency, and we are excited to announce our progress in this upcoming Technical White Paper.
As already mentioned, we plan on releasing an ERC20 version of the PAN token to be withdrawn and deposited freely on Bitpanda. The technical details on how these ERC20 tokens will be able to be used for cross-chain token transfers will also be discussed in the upcoming Technical White Paper.
We are looking for talented developers
Here at Bitpanda and Pantos we are constantly looking for talented people to join our amazing teams. If you are interested, take a look at our career page if you want to work with us as for example Blockchain Developer (m/f) or Python Developer (m/f) and shape the future of the cryptocurrency industry.
About Pantos
As the first multi-blockchain token system, Pantos aims to bring blockchain projects closer together, improve communication between developers, researchers and users, and set innovative standards for cross-chain token transfers.
The goal is to serve as a lighthouse project in an increasingly fragmented blockchain space. With multiple blockchains serving all kinds of different purposes, Pantos is seeking to allow these projects to talk to one another in a standardised way. This will speed up innovation by creating a link between blockchains which then can scale together.
To get the latest news on the progress of the Pantos project you can follow our official channels:
- Facebook: facebook.com/PantosIO
- Twitter: twitter.com/PantosIO
- Reddit: reddit.com/r/Pantos
- Telegram: https://t.me/PantosIO (open discussion group)
- Telegram: https://t.me/PantosIO_announcements (announcements only)
- LinkedIn: linkedin.com/company/Pantos_IO
