Pharos Launches Public Test Network
Pharos, a Layer 1 public blockchain focused on integrating traditional finance (TradFi), announced the launch of its public development network on March 6. This test network is designed to encourage developers to build and stress-test the platform, which is the first EVM-compatible Layer 1 blockchain capable of reaching speeds of 2 gigas per second.
Experienced Leadership Team
Pharos is led by a team with extensive experience in the blockchain and tech industries. Founder and CEO Alex Zhang previously served as CTO of Ant Chain, while co-founder and CTO Meng Wu was the Chief Security Officer for Ant Financial’s Web3 division. Additionally, Pharos’ CMO, Laura Shen, was formerly the head of Solana Mobile Marketing at Solana Labs.
Strategic Investors and Funding
In November 2024, Pharos secured $8 million in a seed round led by Lightspeed Faction and Hack VC, with SNZ Capital as a strategic investor. Other supporters of the project include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.
Upcoming Features
Pharos has ambitious plans to enhance its test network in the coming weeks. The new features will include an open faucet system, enhanced developer tools and resources, and expanded services support. The Devnet launch also includes preparations for a Testnet rollout that will bring the network closer to its production-ready version.
Stay tuned for more updates on Pharos and its innovative developments in the blockchain space.
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