Pharos Network, a Layer 1 blockchain built to bridge traditional finance and decentralized systems, has launched its Testnet. Pharos Network aims to overcome long-standing challenges in real-world asset (RWA) tokenization with scalability and institutional-grade infrastructure.
Founded by former AntChain and Alibaba blockchain executives, Pharos aims to redefine how assets such as real estate, renewable energy credits, and supply chain instruments interact with Web3 infrastructure. The network’s Testnet touts blistering throughput—up to 30,000 transactions per second (TPS) with finality in just one second—setting a new bar for RWA-focused blockchains.
Unlike many existing Layer 1s, Pharos adopts a GPU-like modular architecture that the team claims could support billions of users and reduce on-chain storage usage by 80%. This architecture enables parallel execution and efficient state management, critical for enterprises requiring performance guarantees akin to traditional financial systems.
Pharos also stands out for integrating advanced compliance tools directly into the chain. It features zero-knowledge (ZK) based KYC/AML mechanisms, designed to allow institutions to verify identities without compromising user privacy—an essential requirement for tokenizing regulated assets. In addition, its EVM compatibility ensures seamless porting of existing Ethereum-based applications with lower transaction costs and faster execution.
“Traditional finance is still waiting for infrastructure that meets its standards for security, compliance, and speed,” said Alex Zhang, CEO of Pharos. “Our Testnet represents a critical leap forward. We’re not just chasing performance; we’re enabling an entirely new class of applications for real-world assets.”
While Pharos is entering a crowded market of Layer 1 competitors—from Ethereum’s rollup-centric roadmap to Avalanche’s subnets and Cosmos’ modular zones—it seeks to carve a niche by focusing squarely on enterprise-grade RWA deployment. Recent entrants like Ondo Finance and Centrifuge have illustrated the market’s appetite for tokenized assets, but the infrastructure supporting them still lags.
Pharos is also involved in developing SmartCogent, an AI toolkit for large language models (LLMs), and DTVM (Deterministic Trusted Virtual Machine) technology—tools the company sees as complementary in building intelligent, scalable Web3 ecosystems.
Developers can access the Pharos Testnet at testnet.pharosnetwork.xyz, as the company begins courting builders focused on tokenized real estate, green bonds, and compliant DeFi instruments.
As institutional and regulatory momentum around tokenization accelerates—JPMorgan and BlackRock being recent advocates—the race to become the default RWA chain is heating up. Pharos is betting that speed, compliance, and enterprise credibility will make the difference.
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Image Credits: Pharos Network