TechFlow, May 16 — Pharos Network, a next-generation Layer 1 blockchain focused on the Real World Assets (RWA) sector, has announced the official launch of its public testnet. Focusing on institutional-grade RWA use cases and enterprise-level decentralized finance needs, Pharos Network aims to address pain points faced by traditional institutions entering Web3 by building leading modular infrastructure, creating an efficient, low-cost payment network, and driving large-scale deployment of decentralized applications and expansion of tokenized asset scenarios.
The Pharos testnet can process up to 30,000 transactions per second with sub-second transaction finality, setting a new performance benchmark for Layer 1 blockchains. Its innovative GPU-like architecture improves storage efficiency by 80%. Leveraging zero-knowledge (ZK) technology for compliant KYC/AML, the platform features a built-in privacy-preserving SPN system and decentralized AI capabilities. While remaining fully EVM-compatible, it delivers high-efficiency, low-cost transaction services and supports flexible on-chain innovation.
To address long-standing challenges in scalability, compliance, and flexibility facing RWA applications, Pharos has developed a modular, high-throughput infrastructure that enables secure and compliant on-chain deployment of RWAs, meeting the dual demands of financial regulation and performance. This empowers enterprises to achieve breakthroughs in areas such as green energy finance, payments, supply chain finance, and real estate securitization.
Pharos Network was founded by former core members of Ant Digital Technologies and Alibaba's blockchain division. Drawing on years of deep expertise in enterprise solutions, the team is dedicated to delivering institutional-grade solutions for innovative fields including green finance, payments, programmable ownership, and asset tokenization.
Alex Zhang, CEO of Pharos Network, said: "The launch of our testnet marks a critical milestone in unlocking the true potential of RWAs. By building a high-performance, scalable, and adaptable platform, Pharos meets the need to bring real-world assets on-chain and赋予 them utility. We look forward to witnessing a flourishing ecosystem of innovative applications on Pharos, accelerating the convergence of traditional finance and decentralized technologies."
Developers and users can now access the testnet early at https://testnet.pharosnetwork.xyz/.
Pharos Network is a revolutionary Layer 1 blockchain setting new standards in performance and scalability for decentralized technologies. Founded by former heads of blockchain at Ant Digital Technologies and Alibaba, Pharos aims to build the premier blockchain for RWA and enterprise DeFi, achieving the highest performance among EVM Layer-1 chains: 50,000 TPS and率先 reaching 2 gigagas per second. Additionally, Pharos is a co-developer of SmartCogent (a large language model AI toolkit) and the core development team behind DTVM technology.
