Pharos Network, a new player in the blockchain market, has announced the launch of its testnet designed for real-world asset integration. The platform aims to offer scalable and effective solutions for financial institutions.
High Performance of the Testnet
The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality, setting a new benchmark for Layer 1 blockchain performance. The GPU-like architecture supports billions of users and reduces storage usage by 80%.
Key Features of Pharos
The platform offers fast and cost-effective transactions while remaining fully EVM-compatible. Built-in KYC/AML functionalities ensure security and compliance. Use cases include financing for renewable energy, payments, and supply chain financing.
Ecosystem and Future
An emerging ecosystem is forming on the Pharos Testnet, enabling DeFi projects for real-world assets, including Zenith Swap, ELFi, and others. The Pharos team, composed of former AntChain and Alibaba employees, has extensive experience in delivering enterprise solutions.
The launch of the Pharos Testnet is a significant step towards integrating real-world assets into decentralized technologies. This platform is set to unlock new opportunities for asset financing and tokenization.
