Bitpanda, an Austrian crypto-trading platform, together with the Vienna University of Technology have announced the Technology ICO called Pantos, the first multi-blockchain token system.
Bitpanda, leading European platform for cryptocurrency trading, in collaboration with the Vienna University of Technology have launches ICO with the aim to build an open-source platform called "Pantos". It is intended for real-time arbitrage trading between different blockchain tokens.
Pantos will be backed by ICO of a new token called PAN, limited to 1500 BTC. Bitpanda developers said that ICO will finance the development of technologies that can then be freely used through open source licenses. The Pantos project has gathered 18% of its expected hard cap of 1,500 BTC within a day of its launch.
Initially, Pantos will be launched on the Ethereum platform. In the near future, it will support Bitcoin, Litecoin, Lisk, Komodo.
Founders of Bitpanda Eric Demuth, Paul Klanschek and Christian Trummer point out the advantages of their system:
“The various networks compete not only for investment, resources and market share – but also for knowledge. 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.“