The Pharos Network, a layer 1 blockchain built to bridge traditional finances and decentralized systems, launched its testnet. The Pharos Network aims to overcome the long challenges of the real-world asset (RWA) tokenization with institutional scalability and infrastructure.
Former Executives of Antchain and Alibaba Blockchain, established, Pharos It aims to redefine how properties such as real estate, changeable energy credits, and supply chain instruments interact with web3 infrastructure. The network’s testnet tout fired throughput-to-30,000 transactions per second (tps) with only one second-the setting of a new bar for RWA-focused blockchains.
Unlike many existing 1S layers, Pharos has adopted a GPU’s modular architecture that team claims can support billions of users and reduce on-chain storage by 80%. This architecture provides the in parallel and good state management, critical for businesses that require performance guaranteed similar to traditional financial systems.
Pharos also stands for the inclusion of advanced adherence tools directly into the chain. It features zero-knowledge (ZK) mechanisms based on KYC/AML, which is designed to allow institutions to prove identities without compromising user privacy-an essential requirement for tokenizing regulated assets. In addition, its EVM compatibility ensures seamless porting of existing Ethereum -based applications with lower transaction costs and faster implementation.
“Traditional finances are still waiting for infrastructure that meets its standards for security, compliance, and speed,” said Alex Zhang, CEO of Pharos. “Our Testnet represents a critical jump forward. We’re not just pursuing performance; we are enabling a new class of applications for real-world assets.”
While Pharos enters a tight layer of layer 1 competitors-from Ethereum’s Rollup-centric roadmap to the cosmos’ avalanche subnets and the cosmos-free zone-aimed at carving a niche by focusing squarely in RWA deployment. Recent enters such as Ondo Finance and Centrifuge describe market appetite for tokenized properties, but the infrastructure that supports them is still lags.
Pharos is also involved in the development of smartcogent, an AI toolkit for large language models (LLMs), and DTVM technology (deterministic reliable virtual machine) – the company referred to as aid in developing intelligent, scalable web3 ecosystems.
Developers can access Pharos Testnet at Testnet.Pharosnetwork.xyz, as the company of courting builders focuses on tokenized real estate, green bond, and following defi instruments.
As the institutional momentum and regulation have accelerated around tokenization – JPMorgan and Blackrock are recent advocates – the race to default RWA chains have warmed up. The Pharos estimates the speed, compliance, and business credentials will make a difference.
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Image credits: Pharos Network