Pantos ICO: Full Analysis
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What is Pantos?
Pantos (PAN) is a multi-blockchain token system developed by the Bitpanda team that aims to unify the existing fragmentation in the digital currency market. The Pantos project is focused on bringing major blockchain platforms together through collaboration in research and development projects to strengthen the current crypto ecosystem and eventually lead to increased adoption of blockchain technology by the public.
Pantos is the first multi-blockchain token system in the world and if successful will result in a seamless cross-chain token transfer. To facilitate this seamless transfer of tokens, the Pantos project will create two broad types of channels that is, payment channels and communication channels. Payment channels will facilitate seamless transactions between different blockchains while communication channels will facilitate efficient sharing of information between teams, researchers and users of various blockchains. Together, these two channels will result in better interoperability in the blockchain community. The major blockchain platforms targeted in this project include Bitcoin, Ethereum, Lisk, Komodo, and Waves.
In addition to being an open source and open innovation research project, Pantos also seeks to bring Token Atomic Swap Technology (TAST) which will facilitate swapping of tokens at atomic speeds between different blockchains. To achieve this, Pantos has partnered with numerous stakeholders and researchers from the Technical University of Vienna, Austrian Academy of Sciences and the Research Institute for Future Crypto economics. The implementation of all of the above approaches will foster cooperation between blockchain platforms, enable real-time arbitrage between exchanges and present a more robust system that is fortified regardless of any future changes in technology.
Interesting facts about the Pantos ICO
- Pantos is the first multi-blockchain token system in the world that enables users to perform seamless cross-chain transfer of tokens.
- Pantos introduces a new metric system that will be used to measure the real-time usage of PAN tokens and its distribution among different blockchain platforms with the blockchain domination index.
- Pantos fosters collaboration and promotes synergies between blockchain platforms which will lead to a more robust future-proof system that will propel the adoption of blockchain technology by the masses.
- Pantos allows users to simply and smoothly migrate from one blockchain platform to another.
Pantos ICO Communication channels
Pantos ICO Team
Paul Klanscheck – Co-founder/ Co-CEO of Bitpanda company
He is a Bitcoin enthusiast with an experience spanning over 7 years working as a Blockchain insider. He holds a Masters’ in Banking and Finance from the Vienna University of Economics and Business. He is also a brand ambassador for the Komodo platform that offers Blockchain solutions.
Eric Demuth – Co-founder/ Co-CEO of Bitpanda company
Eric has been serving Bitpanda as the CEO for 4 years since 2014. He is a serial entrepreneur for payment and gaming with experience spanning over 7 years. He holds a degree in Business management and administration from the Vienna University of Economics and Business. He has key experience in Bitcoin and blockchain technology for many years.
Christian Trummer – Co-founder and Chief Technical Officer at Bitpanda company
He is an experienced programmer with experience doing SaaS projects and optimizing overall equipment effectiveness (OEE) in the food industry. He is also a serial entrepreneur and writer having authored a book called “Efficient web programming.”
Michael Borkowski – Technical advisor
Michael serves Pantos as a technical advisor for developing software. He possesses a bachelor’s degree in Software and Information Engineering and a Master’s degree in Software Engineering and Internet Computing. He currently serves as the project assistant in the Institute of Information Systems where he is working on a cloud-based rapid elastic manufacturing project.
Andreas Petersson – Blockchain expert and advisor
He is a reputable professional in the field of bitcoin and blockchain where he has worked on various projects such as the development of the Mycelium wallet which has facilitated easy storage of crypto coins on mobile devices. He has also co-founded Bitcoin Austria and Minebox. He has an experience spanning 15 years as a software developer.
Paul Rieger – NEM Representative and official advisor
He has experience in blockchain technology and entrepreneurship which he uses to promote and educate people about blockchain technology. He is a board member of RIAT and serves as the head of Business development for NEM in the whole of Europe. He is an expert in crypto economics and blockchain technology.
Pantos Scam check
- The team behind the ICO is the same team behind the exchange platform Bitpanda which is a popular trading platform in Europe. All the team members have credible social media accounts.
- The Pantos platform uses the Ethereum blockchain ERC 20 standard which guarantees transparency and fairness in all operations.
- PAN tokens bought are secured in a smart contract and are stored in ERC compatible wallets which can be tracked.
- There have not been any issues reported regarding Pantos ICO being a scam.
Is there a demand for the product Pantos wants to develop?
- There is demand for systems and technologies that enable instant or quick transfer of digital currencies. Pantos’ Atomic Swap technology and Lightning Network solve this problem. Pantos also allows users to transfer tokens between different blockchain platforms which is something crypto investors have always wanted.
What markets can they reach?
- Since PAN coins can be exchanged on different blockchain platforms, Pantos targets a variety of traders regardless of their preferred blockchain platform. Pantos also presents arbitrage opportunities to these traders enabling them to buy PAN tokens in one blockchain and sell them at a different price in another blockchain platform.
Are there existing markets and ICOs providing a similar product?
- The concept of atomic cross-chain transactions was first introduced in 2013. However, a working implementation was victorious in the year 2017. Therefore, there are a few platforms with the Atomic Swap technology. Even though the technology is in existence, there is a lack of user-friendliness which has hindered the mainstream adoption of the technology. Pantos, therefore, aims to solve this problem by developing a high-quality open source atomic swapping protocol that is easy to use by the various traders in the crypto community.
Pantos ICO Business model
Users of the Atomic Swap technology will be charged transaction fees for every operation carried out using the technology. This technology enables users to swap digital assets between different blockchains at near-instant speeds.
Pantos also offers financial services and smart contract services to its users using the platform’s lightning network infrastructure. This also enables users to make micropayments at high transaction speeds with minimal fees charged.
Pantos’ minimum viable product (MVP) and when will it be ready?
Pantos minimum viable product is to develop a proof of concept and interim solution which is a platform on which immediate transfer of PAN tokens between different blockchain platforms can be demonstrated. It will also serve as a foundation on which a decentralized system will be developed. Pantos has not explicitly stated the dates when this product would be ready.
What is the capitalization potential of the Pantos ICO?
- The ICO aims to raise 1500 Bitcoins in its ICO sale which roughly equals 13 million US Dollars. The ICO does not have any pre-ICO sale hence no capital has been raised so far.
- There are no similar ICOs before since it’s the first popular multi-blockchain project to be done. However, ICOs offering blockchain related solutions have been able to raise up to 10 million US Dollars.
- Its association with Bitpanda, which is a popular exchange platform, means Pantos has the considerable potential of raising their target amount.
What are the potential/ use cases of the Pantos ICO?
- Pantos is a highly flexible and convenient platform that enables users to instantly swap tokens between different blockchain platforms.
- The platform is different from existing platforms with Atomic swap technology in that it is user-friendly and uses a high-quality atomic swap protocol.
- This platform is intended to be a decentralized blockchain-based system which is important since it offers enhanced security, transparency, and safety of user’s data with no central party involved.
- Pantos has partnered with various organizations and individuals in the technology and blockchain industry.
- Some of their partners include Komodo foundation, Waves foundation, Lisk foundation, Bitcoin Austria and Fintech Austria.
- Pantos also has legal partners such as Wolf Theiss law firm which advises them appropriately on legal matters.
Pantos’ Token sale
- Fundraising goal (Hard cap): 1500 BTC.
- Maximum tokens: 400,000,000 PAN.
- The token sale will take place from March 21, 2018, to April 18, 2018.
- Payments are accepted in all supported currencies in Bitpanda.com which include Bitcoin, Dash, Ethereum, Bitcoin Cash, Litecoin, and Ripple.
- There is no minimum investment amount hence one can buy tokens with any amount of digital currency he/she has.
- There is no presale or private sale for Pantos tokens hence no bonuses for early buyers.
- Tokens will be tradable on Bitpanda hence the need to have an account on the platform. Crypto transfers can be made from other wallets to your Bitpanda address to buy Pantos tokens.
- PAN tokens will be distributed among users depending on the total number of Bitcoins raised at the end of the ICO. This will be obtained by multiplying the number of Bitcoins used by the total token supply and then the product is divided by the total Bitcoins raised.
Pantos coin- supply/ purpose
- The total Pantos coin supply is 1,000,000,000 tokens.
- 40% of the coins will be available in the ICO sale; the company will reserve 40% for future fundraising, 10% will be allocated to the team working on the project, 9% will be given used for bounties while the remaining 1% will be allocated in the Bitpanda
The tokens will be used to raise income for the company which will be used to develop the various technologies and help model the future of blockchain open source technology. The coin supply is steady, and no more tokens will be added. Token holders will be able to transfer their coins back and forth between different blockchain platforms such as Bitcoin or Ethereum. The company’s value strategy is to raise capital with the tokens locked up in a smart contract and increase its value by maintaining the number of tokens despite an increase in revenue volumes generated from the service.
Which wallets and exchanges are compatible with Pantos?
- The Pantos coin is an ERC 20 standard which is compatible with the following wallets: MyEtherwallet, imToken, Ledger Nano S, Parity and Trezor.
- Pantos is currently compatible with the Bitpanda exchange platform.
The Pantos ICO is a project to watch closely, upon its success, it is going to be a game changer in the crypto-space, enabling, fast, seamless, and affordable cross-blockchain transfer of tokens courtesy of the Atomic Swap Technology. If the project comes to pass, it will create the much needed decentralized interoperability capabilities In the cryptocurrency world; and who knows? The project might overhaul the current interoperability between financial organizations in the centralized fiat system that is marred by delays and relatively enormous fees, especially where cross-border or inter-organization transfers are made.
Pantos certainly envisions the continuity of the cryptocurrency adaptation across the masses as the innovation will bring to place a solid collaboration between different blockchain technologies. Not only will transacting between different cryptosystems be a smooth affair but also migrating to whatever of these platforms a user wishes to utilize.
Keep watching our other posts for the latest updates on Pantos ICO and other crypto-related posts. Thanks for reading along and making your crypto-knowledge, our duty to build.