pNetwork (PNT)

pNetwork

pNetwork is an open-source multi-chain routing protocol for providing interoperability across a variety of independent blockchains. These cross-blockchain functionalities enable, for example, the release of “wrapped” tokens called pTokens that rely on maintaining a 1-to-1 peg in-between the native blockchain and the host blockchain (e.g. Bitcoins wrapped to operate on the Ethereum blockchain). The pNetwork Token PNT serves as the governance token for the pNetwork DAO, the staking currency for pNetwork nodes and the reward currency for the services offered by these nodes.

The pNetwork project was launched in late 2019 (it was originally called pTokens) as a cross-chain solution connecting multiple blockchains and assets, with its first cross-chain bridging solution connecting Bitcoin and Ethereum going live in production on March 5th, 2020. This was followed by the launch of a variety of other cross-chain connections to enable the movement of assets and, later on, NFTs and data across ecosystems. Today, pNetwork powers connections across over 15 networks (including multiple very different blockchain environments and Ethereum scaling networks). In parallel, the protocol experienced subsequent evolutions with the goal of making the system increasingly decentralized.

With the release of the pNetwork V2, pTokens become fungible across chains, meaning users will be able to move their pTokens directly across any of the supported chains without the need to go back to the native blockchain.

Moreover, not only assets can be moved cross-chain, but also NFTs and cross-chain transfers and smart contract interactions. The protocol has already processed transactions for more than 1billion of value.