Pantos Project Update: Second TAST Technical White Paper published
In the first TAST Technical White Paper we evaluated which blockchains and technologies are suitable for Pantos’ Token Atomic Swap Technology and which similar projects are currently being developed. We have found that the majority of projects focus on exchanging assets in a decentralized way using Atomic Swaps.
Release of the second TAST Technical White Paper
The main goal of the second TAST Technical White Paper is to solve the cross-chain proof problem, which was already described in the first Technical White Paper. We show that in practice, it is not possible to verify the existence of specific data on one blockchain from within another. This poses a challenge to projects conducting cross-chain asset transfers, such as TAST. To solve this problem, we present and describe the concept of claim-first transactions. They allow for the implementation of cross-chain asset transfer protocols while avoiding the cross-chain proof problem. This is a novel concept for cross-chain asset transfer protocols. We also highlight various challenges in implementing claim-first transaction and propose mitigation strategies.
Overall research and development progress
We submitted a paper describing the PXTT protocol — our first concrete protocol for cross-chain token transfers — to the Ledger journal. The turnaround time is around eight weeks, so we expect hearing back from them some time in October.
In the meantime we are already working on an improved and extended version of the PXTT protocol. This next iteration will reduce protocol complexity by removing the requirement for a second token type introduced within PXTT. This will not only ease implementation but reduces overall complexity, thus increasing security.
Next Step: ERC20
Bitpanda, which is a separate entity to Pantos, will introduce full ERC20 integration for some of the existing tokens based on this standard on the platform in September 2018. This will be an important step for PAN, because full ERC20 integration on Bitpanda is a requirement for the token in order to be introduced to the Ethereum blockchain. Later, we will announce the launch of PAN as an ERC20 token. As soon as PAN will run on the Ethereum blockchain based on ERC20, you will be able to withdraw PAN to any other wallet supporting the ERC20 standard.
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 PHP Backend Developer (m/f) or UI/UX Designer (m/f) and shape the future of the cryptocurrency industry.
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: