Vienna University of Technology to Launch Multi-Blockchain Transfer System

Published at: March 7, 2018

Bitpanda, an Austrian trading platform for cryptocurrencies is partnering with the Vienna University of Technology to develop an open-source platform called "Pantos" for real-time arbitrage trading between different Blockchain tokens, Cointelegraph auf Deutsch reported on Wednesday, March 7.

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.

The research project called "Pantos" aims to solve the problem of the increasing fragmentation of Blockchain tokens and to allow "worthwhile transfers of tokens over several blockchains" for the first time, Bitpanda announced in its press release on on Wednesday, March 7. This will enable traders to capitalize on price differences between pairs of digital currencies on one single platform.

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. As the Bitpanda makers emphasize in the announcement, the ICO will not serve to fund a new startup, but to finance the development of technology which afterwards 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.

There are several German universities and research institutions which are currently exploring the use of Blockchain.

In March 2018, the Institute for Industrial Management FIR at the RWTH Aachen University, Fraunhofer FIT, and Demofabrik Aachen will begin a joint study on "Blockchain for Industrial Applications" under the leadership of KEX AG, a technology and market information provider.

The aim of this project is to identify potential applications of Blockchain technology for the industry, to evaluate them in concrete terms, and to find ways in which they can be implemented and used.

Tags
Blockchain
Trading
Tokens
Austria
Related Posts
From taxes to electricity, blockchain adoption is growing in Austria
Austria has been actively transforming into an attractive location for providers of blockchain-based products, with the government itself experimenting with the technology and trying to create a legal basis upon which companies can use it. With regard to blockchain-based applications in the economy, however, Austria is still in the experimental phase, with most firms still running pilot projects. Still, politicians and economists alike see potential for select industries. Public administration reform via blockchain The Austrian government is quite open to blockchain innovations, cryptocurrencies aside, and has supported various projects in the public and private sectors. In 2019, a consortium of …
Decentralization / March 28, 2022
Is ‘Bitcoin season’ real or a maximalist theory?
With Bitcoin (BTC) continuing to hold ground above the all-important $60,000 psychological threshold for two weeks running, a growing chorus of voices seems to be echoing the sentiment that the market may be in the midst of another “Bitcoin season.” This basically refers to a window of time where money flows from various altcoins back into the flagship cryptocurrency until eventually, the interest starts to dry up and the capital once again starts to move back into different altcoins. To assess whether such a notion really exists and is worth paying any attention to, Cointelegraph reached out to Kadan Stadelmann, …
Blockchain / Nov. 2, 2021
What are the worst crypto mistakes to avoid in 2022? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up we have Bourgi, who thinks …
Decentralization / April 12, 2022
First steps: Basic tips for getting started investing in DeFi
Decentralized finance (DeFi) protocols have diversified investment opportunities in the crypto industry by facilitating novel and innovative passive income generation schemes. Delving a bit into how they work, DeFi systems are based on blockchain technology and run on programmable chains such as the BNB Chain and the Ethereum Network. The chains use decentralized peer-to-peer (P2P) finance architectures to cut out the middleman and enable lending, borrowing and liquidity provision. This leads to higher interest rates compared to those provided by regulated financial institutions such as banks. For perspective, many regulated banks provide interest rates of less than one percent per …
Decentralization / April 14, 2022
Terra 2.0: A crypto project built on the ruins of $40 billion in investors' money
Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network with a new chain called Terra 2.0 (Phoenix-1). The amended proposal for the relaunch of the network by increasing the genesis liquidity, which introduces a new liquidity profile for pre-attack Luna Classic (LUNC) holders and decreases the distribution to post-attack TerraUSD Classic (USTC) holders, was …
Decentralization / June 3, 2022