Vienna University of Technology introducing Multi-Blockchain Transfer System

In a report according to Cointelegraph auf Deutsch on March 7, an Australian platform for cryptocurrencies named Bitpanda is in partners with the Vienna University of Technology to create an open-source platform called “Pantos” for real-time arbitrage trading between different Blockchain Tokens.

In partnership with the Vienna University of Technology, researchers from the Research Institute for Future Cryptoeconomics (RIAT) in Austria are also participating in the project.

This platform dubbed “Pantos” and is looking forward to solving the problems if the increasing fragmentation of Blockchain tokens and to allow “worthwhile transfers of tokens over several blockchains” for the first time, announced Bitpanda in its press release on Wednesday, March 7.

According to reports, the Pantos system will be financed by using an Initial Coin Offering (ICO) limited to 1500 BTC (about $14.8 mln at press time) for a new token called PAN. The ICO will not serve to fund a new startup, but to finance the development of technology which afterward can be freely used through open source licenses.

Pantos will initially be launched on the Ethereum platform. Support for the cryptocurrencies Bitcoin, Litecoin, Lisk, Komodo, and Wave will follow shortly thereafter.

“Pantos is not the first Blockchain-based project for Vienna University of Technology. At the end of November 2017, in a project called “Ethertrust”, the research group “Security and Privacy” led by Professor Matteo Maffei published work that improves the security of Smart Contracts for the cryptocurrency Ethereum.”