Large companies working on public blockchain projects generally have better resources. For example, a few years ago, Facebook (Meta) published the Libra (Diem) white paper, but later faced significant regulatory resistance, leading core team members to leave and create SUI and Apt, two mainstream chains.
Just last year, Alex Zhang, one of the 13 janitors at Alibaba's Damo Academy, after serving as the CTO of AntChain and the CEO of Ant Group's development platform ZAN, formed the @pharos_network team to enter the high-performance public blockchain space.
Unlike the common scenario where employees start their own businesses, Pharos publicly announced its exclusive partnership with Ant Group during its financing and development stages, making Alex's close ties with Alibaba clear. Pharos aims to address issues that the consortium chain AntChain cannot solve due to compliance constraints, such as the marketization of RWA assets.
After reviewing the information currently disclosed by Pharos, I estimate that this year another public blockchain from a large company with a market value of tens to hundreds of billions will emerge. Its characteristics can be summarized as being fast, good, and cost-effective, which I'd like to share with you.
More: Currently, Pharos has secured commitments for nearly 300 million RWA assets, which translates to user revenues in the tens of millions annually. Coupled with its exclusive partnership with Ant Group and the backing of leading institutions like HackVC, such orders will continue to flow in.
It's important to note that even without external enterprises onboarding, the collaboration with AntChain itself signifies a substantial amount of already on-chain user assets.
In addition to CEO Alex being the CTO of AntChain, CTO Wishlonger is also the Chief Security Officer for Ant's Web3 operations. They previously led the trusted on-chain technology, which has been widely applied in new energy sectors such as new energy vehicles, batteries, and photovoltaic panels, accumulating over 12 million devices on-chain.
Fast: Thanks to the team's long-term technical accumulation from advancing business in Ant Blockchain for 7 years, Pharos achieved extremely high EVM Layer-1 performance in less than a year of development, with 20K TPS already validated on the public development network, and there will be further improvements. It took only two months to transition from the development network to today’s open user testing network without delays.
In addition to block generation speed and development progress, it is commendable that Pharos and AntChain have significantly open-sourced the DTVM virtual machine, increasing the code execution speed across the industry by 20 to 30 times, with smart contract call latency as low as 0.93ms, allowing applications like RWA, DeFi, AI, etc., to run on-chain with the feel of the internet.
Good: Simply put, for users, the best projects are those that can make money.
This year, under the shadow of VC coin valuation restructuring and Alpha points, many people are apprehensive about airdrop interactions.
However, I believe Pharos has little to worry about; on one hand, it is strong and hasn't taken too much VC funding, more so seeking partnerships to gain web3 endorsements, keeping its chips in hand with room for distribution.
On the other hand, the team has localized expertise by assigning the most professional people, such as CMO Laura, who previously managed the Solana Saga phone, surely well-versed in the allure of airdrops driven by the 'wealth effect' for users.
Save: While it may not matter for single transactions, in the long-term high-frequency usage scenario, TPS/Gas cost-effectiveness will become an important cost issue.
The older generation of TRX/ETH/BNB needs no further mention; individual users feel the pinch, while Pharos=500000K/1¢ is a truly suitable choice for enterprise-level users, significantly more economical than high-performance competitors (MegaETH=1000K/1¢, Monad=60K/1¢).
Finally, a small interactive note.
If you are interested in experiencing the Pharos test network (
