Thread by @PantosIO

Pantos service nodes will be the first part of the Pantos network where PAN holders can contribute with services provided in exchange for service fees. Read today for some details 👇

To improve the security of the Pantos network we distinguish between Pantos oracle nodes and Pantos service nodes. To transfer PAN from one blockchain to another, an interested party can delegate the required on-chain transactions to a service node.

Pantos service nodes publish their conditions on-chain or via a broadcast channel. These conditions usually include transaction duration, the available collateral and transaction costs. Parties interested in using the Pantos network can choose a service node to their liking.

Transaction costs are market regulated. There is competition for clients among the Pantos service nodes, ensuring a reasonable price. This price (after conversion) needs to cover on-chain transaction costs, fees paid to the Pantos oracle and possible further expenses.

The collateral is provided by the Pantos service nodes on a per transaction basis. For each job, a service node takes over. This collateral can be used by the network to finalise or revert the transaction if the service node fails to execute its promises.

Since blockchains are prone to fluctuating transaction costs, less urgent transactions could be withheld until less-congested days (eg. the weekend). Short transaction durations are likely to incur higher on-chain costs and with that a higher fee as paid to a Pantos service node.

The requirements for running a Pantos service node will, in essence, boil down to a publicly accessible IP address as provided by VPS services. Service nodes are used to delegate transactions. If your machine can run light blockchain wallets you are probably ready to go.

Pantos service nodes will be incentivised to reserve PAN tokens on several blockchains in order to participate in fee collections for the services provided. These reserves can be considered locked and will thus reduce the effectively circulating supply.

Pantos service nodes are the backbone of allowing blockchain interoperability. PAN plays a vital role in this setup. Our vision is to allow arbitrary blockchain interaction where PAN is the only cryptocurrency needed.

In case you missed it, we are currently collecting questions regarding the latest project update. If you feel confused about any of the details or are motivated to provide some inspiration, please join in and share your thoughts!

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🇬🇧 Pantos English: t.me/PantosIO_EN/
🇦🇹 Pantos Deutsch: t.me/PantosIO_DE/