Lisk (LSK) will be integrated with Pantos, a multi-blockchain platform which is designed to build bridges between different projects.
Announced initially on the Lisk subreddit, the news was also shared via the developer’s Twitter account. Pantos claims their product will foster cooperation between projects as well as the creation of a common technical standard for transferring value across blockchains.
Following today’s announcement, Pantos has the support of five blockchains: Bitcoin (BTC), Ethereum (ETH), Waves (WAVES), Komodo (KMD) and now Lisk. Max Kordek, the co-founder and CEO of Lisk is listed as one of Pantos’ advisors.
📢 We are pleased to announce #Lisk will be integrated with @PantosIO. Created by @Bitpanda, Pantos aims to solve the #blockchain fragmentation problem, by enabling sustainable collaborations between projects and common technical standards for cross-blockchain transfers. pic.twitter.com/p9iRF6cs65
— Lisk (@LiskHQ) March 7, 2018
Pantos is the first multi-blockchain token system and was developed by Bitpanda, a cryptocurrency brokerage based out in Austria, along with a research team at the Technical University of Vienna. It was launched on the 7th of February.
The team is developing Token Atomic Swap Technology (TAST) for their system, which will enable instant cryptocurrency exchanges between two blockchains. By using time-locked contracts both parties can release their funds onto their own respective blockchains and by releasing a secret number onto the opposing one, can then claim the funds; the smart contract enforces the deal and if one party doesn’t fulfill their side of the bargain, or fails in the time-limit set, the transaction is considered void and the funds are returned.
Pantos will release their own PAN tokens onto their supporters’ blockchains and this will enable users to exchange value from one platform to another. As their “vision paper” highlights, users can then quickly transfer funds in order to exploit emerging price differences between platform tokens.
LSK tokens are currently trading at $16, giving Lisk a total value of $1.65bn. The coin had opened Monday at $19, with a cap of $1.9bn. In mid-February, the Lisk development team announced a major rebranding, front-end design as well as the upcoming beta release for the Lisk Sidechain Development Kit (SDK)that will allow projects to build their own sidechains off the Lisk ‘mainchain’.
Pantos is also releasing its own token, PAN, which is having its ICO in a fortnight’s time, where 40% of the total supply of the coin will be released. The ICO will accept BTC, ETH, Litecoin (LTC), Dash (DASH), Bitcoin Cash (BCH) and Ripple (XRP)