Crypto Firm BitPanda, Vienna University To Launch Multi-Blockchain Token System

Announcements, Blockchain, ICO News | March 8, 2018 By:

Austrian cryptocurrency brokerage platform BitPanda has teamed with the Vienna University of Technology to develop an open-source platform called “Pantos” for real-time arbitrage trading between different blockchain tokens.

Pantos aims to end the fragmentation of digital currency markets and to allow “worthwhile transfers of tokens over several blockchains” for the first time. By partnering with major blockchain platforms, Pantos claims it can connect these blockchains and allow the seamless transfer of value between them.

Pantos will take advantage of Atomic Swap and Lightning Network technology to enable near-real-time arbitrage trading, resulting in increased volumes across all decentralized marketplaces. Traders will be able to exploit the resulting price differences between pairs of cryptocurrencies.

“The various networks compete not only for investment, resources and market share – but also for knowledge,” said Bitpanda. “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.”

The Pantos platform will be financed through an initial coin offering (ICO), which will be limited to 1500 BTC (about $14.8M USD at press time) for a new token called PAN. The platform will initially launch on ethereum, with bitcoin, Litecoin, Lisk, Komodo and Wave support expected to follow soon.

“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,” said a Bitpanda statement. “It is deliberately not a startup financing system.”

This is not the first blockchain project for Vienna University of Technology. Last year, in a project called “Ethertrust,” the research group “Security and Privacy,” led by Professor Matteo Maffei, published work that improves the security of ethereum smart contracts.