Pharos Network, a new player in the blockchain world, has launched its testnet focused on real-world assets and DeFi. The platform promises to address significant barriers to the adoption of blockchain technologies in traditional sectors.
What is Pharos Network?
Pharos Network is a next-generation blockchain designed for real-world assets (RWAs) and institutional DeFi. It offers a modular infrastructure that helps eliminate the main barriers to enterprises entering the Web3 space.
Key Features of the Testnet
The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality. This network can support billions of users while reducing storage usage by 80%. It also features built-in support for decentralized AI and KYC/AML procedures.
The Future of Real-World Assets and DeFi on Pharos
The testnet is already attracting projects working with real-world assets. OKX Wallet will support Pharos Testnet natively at launch. The emerging ecosystem includes Zenith Swap, ELFi, and other projects expected to provide new opportunities in finance and asset tokenization.
The launch of the Pharos Network testnet marks an important step in the tokenization of real-world assets and the integration of DeFi into traditional financial systems. The platform is expected to be a catalyst for innovation in this field.
