Overview of Pantos (PAN) & Token Atomic Swap Technology (TAST)
Overview of Pantos (PAN) &Token Atomic Swap Technology (TAST)
Overview of Pantos (PAN) & Token Atomic Swap Technology (TAST)

By Neon-Kitten | Planet Dystopia | 9 Feb 2020


What are Pantos (PAN) & Token Atomic Swap Technology (TAST)?

In the highly fragmented space of today's cryptosphere, with thousands of different blockchains & tokens that serve diverse purposes and that are hardly connected to each other (and certainly not in a decentralized way yet), the Vienna University of Technology (TU Wien) & Bitpanda try to solve this dilemma with the Pantos Project and the development of the so-called Token Atomic Swap Technology (TAST).

So basically, the main goals of Pantos are to bring together various blockchain projects on a technical level, the improvement of communication between various developers, scientists & users, as well as the creation of a new standard for cross-blockchain transfers of data & values.

Imagine being able to instantly swap between different blockchains, without the need of additional intermediaries, long wait times, high transfer costs or even the (simple yet present) danger of using wrong addresses. All these issues and many more might get solved, if this project succeeds. 

More information about the general concept & main goals of Pantos can be found in their Visionpaper.

 

Pantos Logo

 

Overview & Roadmap of Pantos PAN / TAST (2020-2021)

In this section we look at the status of the project and the next steps of the project's roadmap for the development of the Pantos & TAST.

7 of the 8 announced white papers have already been published. These are also available on the TAST page of the Vienna University of Technology. This can be considered an indicator for the approaching finalization of the project.

So far, the research period at the TU Wien has only been set until June 30, 2020. What this means for the subsequent (and further) development of the project in detail, is still open at the moment. This could mean, for example:

  • Extension of the research period at the Vienna University of Technology with a new deadline & further research on TAST technology
  • Completion of basic research & reach of market maturity / start of practical use?
  • Complete handover of the project to Bitpanda / transition to a corporate-only research project until it’s market-ready?

These are many (and certainly not all possible) options that open up. We will see & one can certainly be excited.

 

Pantos Teaser

 

Proof of Concept: Pantos / TAST Prototype "Testimonium"

In September 2019, the Pantos team presented their generic prototype called "Testimonium". This provides the generic application of an SPV-based, cross-blockchain transaction check, which means that a blockchain relay system enables customers to check transactions from one specific blockchain to another blockchain in a decentralized manner.

The testimonial prototype serves as the basis for the development of a cross-blockchain token transfer in the sense of TAST. If you want to take a look at the prototype Testimonium, you can do so on the Github page of Pantos / TAST.

 

Further development of the TAST prototype

The extension of the Testimonium prototype by an incentive structure is considered in more detail in the 7th whitepaper: The aim is to encourage offchain customers to participate and these incentives will be created by providing cheaper transaction costs (acc. to the Pantos team, transfers may be up to 6 times cheaper than transfer costs at other blockchain relay systems).

 

Test & evaluation of the functionality of the TAST prototype

After the successful implementation of the incentive structure, the TAST prototype is subjected to extensive testing to check functionalities and safety-critical aspects. According to the Pantos team, new scientific findings from the team at the TU Wien and new developments in the blockchain and cryptosphere will be also incorporated in this phase.

 

Public testing of the TAST Prototype

At this stage of the Pantos project, there will be a reassessment, as well as further testing and continuous improvements of the Pantos / TAST prototype as part of a public testing / public trial. This could be done, for example, by using the technology at Bitpanda’s public broker service.

 

Market launch of Pantos & TAST technology

At this stage, after Pantos has released a stable version of the prototype that has been put through its paces, the technology will get released and launched to the markets. The goal is a product, that enables cross-blockchain value & data transfer with decentralized transaction verification.

 

Pantos Teaser

 

Where do you get Pantos (PAN)?

Since Pantos is a joint project between the Technical University of Vienna and Bitpanda, PAN tokens are currently available exclusively on the Bitpanda platform (as of Q1 2020). You can buy them there in the form of ERC-20 tokens.

The availability and trading of the token are currently both relatively limited due to the exclusive presence on Bitpanda. This aspect, combined with the fact that it's still a research project that needs a lot of work till its real market launch, put some pressure on the price of the token. But take a look at the price chart of Pantos (PAN) for yourself.

As soon as the project and the Token Atomic Swap Technology (TAST) are ready for use, other trading platforms, including those outside the DACH region, will most likely be added. This could have a positive impact on exchange rates. Switching the token from the ERC-20 standard to a different or even Pantos-own format will, in all likelihood, also affect trading, exchange rates and availability.

 

Pantos Overdrive on YouTube

Last but not least, I want to present you a loud as optimistic dystowave synthesizer track out of my own electro production: Pantos Overdrive (Moon 2021), some already called it "Pantos Rave" but decide on your own, feel free to love it or hate it! ^^

I hope you enjoyed the read & the track! ^^

The full version of this article got released on PlanetDystopia.net first.

 

[Update, February 10, 2020] Clarification & Disclaimer: After I've received various messages on different channels about some aspects of this article, about myself as well as about my intentions in general, I feel the need to clarify some things:

  • I'm neither a member of the Pantos research team, the TU Wien, nor an employee of Bitpanda, nor part of one of the other companies / projects involved.
  • Even though I live in Vienna and use pictures, that I made of the Austria Campus, for the presentation of various digital channels, that doesn’t mean, that I'm a professional working there (neither at Bitpanda, at the Austria Campus itself, nor at other associated companies in that area). In fact, I use that footage, as the architecture of the place fits my artistic name for synth music (VMEM) as well as the style of my music videos & cover arts quite nicely. Folks, there is no need to kick into paranoia mode about this…
  • Yes, I'm a Bitpanda customer & also take part in their affiliate program, so (maybe some day, lol) I might make some money with the links in  this article, on my page and on other digital platforms, but this had & has no impact on the content of this article or on my stance towards Pantos or TAST. If this ship sinks (imho unlikely, but one can never know for sure, especially in our fast moving world), you will be able read about it here and without any bias, same as when it should rise into space. I'm trying, to the best of my abilities, to keep a balanced view on this.
  • As mentioned above, the links to Bitpanda in this article are affiliate / referral links. If you follow these and sign up to the Bitpanda platform, I will receive a commission after some time in which the platform has been used by you. There are no additional fees or costs for you involved. If you – for whatever reasons – have a bad feeling about this, you can simply remove the ref code (starting from "?ref=") from the URL of the links and you’re fine too.


Neon-Kitten
Neon-Kitten

Likes to keep an eye on dystopian fiction & reality. Loves to blog & make experimental synthesizer music. Covers pessimistic stuff with an optimistic mindset.


Planet Dystopia
Planet Dystopia

Keeping an eye on dystopian aspects of modern culture, media, society & technology. Diving deep into experimental synthesizer music & digital art, as well.

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