According to Deep Tide TechFlow news, on May 7, Chainwire reported that the Layer 1 public chain Pharos Network, focusing on the Real World Assets (RWA) track, officially launched its public testnet today. The network has a transaction processing capacity of 30,000 transactions per second and sub-second transaction confirmation performance.
It is reported that Pharos Network supports compliant KYC/AML through a modular architecture and zero-knowledge proof (ZK) technology, is compatible with EVM, provides efficient and low-cost transaction services, and incorporates a privacy protection system and decentralized AI functionality. Its aim is to address the scalability, compliance, and flexibility challenges of RWA applications, helping the financial industry achieve breakthroughs in payment, supply chain finance, and real estate securitization.
The testnet ecosystem has attracted support and participation from multiple projects, including OKX Wallet, Zenith Swap, ELFi, and Buzzing Club, covering tracks such as DeFi, prediction markets, and decentralized exchanges.
It is worth noting that Pharos Network was founded by core members of Ant Group's Digital Technology and Alibaba's blockchain business, with a team that has many years of experience in enterprise services, dedicated to providing institutional-level solutions in innovative fields such as green finance, payments, new programmable ownership, and asset tokenization.
