Discovering Pharos Network

In the fast-evolving world of blockchain, Pharos Network stands out as a powerhouse Layer 1 solution that's fully compatible with the Ethereum Virtual Machine (EVM). As someone who's been deep in the Web3 trenches for years, I see it bridging the gap between traditional finance and the decentralized future through its RealFi focus—think seamless, real-world financial applications powered by cutting-edge tech.

What really excites me is how Pharos is designed to handle internet-scale payments, blending Web2 efficiency with Web3's openness. Its modular setup delivers a robust financial backbone for institutions worldwide, ensuring transactions are instant, compliant, and accessible to everyone, no matter where they are.

At its core, the network rocks a dual virtual machine system that merges EVM with WASM. This combo delivers sub-second transaction finality and cranks out an impressive 50,000 transactions per second (TPS), making it a beast for high-volume operations.

Compliance isn't an afterthought here—it's baked right in. With integrated ZK-KYC and AML modules powered by zero-knowledge proofs, Pharos keeps user privacy intact while ticking all the boxes for global regulatory audits. It's like having a financial fortress that's both secure and user-friendly.

The SPN architecture takes things further with a specialized processing network that's modular and hardware-accelerated, tailored for heavy-lifting tasks like financial clearing and settlement. This isn't just theory; it's built to perform in the real world.

Meet the Team Behind the Vision

Pharos Network was born from the minds of former Ant Group tech leaders, folks who've handled trillion-dollar payment volumes in the heat of battle. Their battle-tested expertise is what sets this project apart in the crowded blockchain space.

Leading the charge is Alex Zhang, the CEO with two decades of tech savvy under his belt. He previously served as Ant Group's blockchain CTO and CEO of ZAN, bringing that big-league insight to every decision.

Then there's Wish Wu, the CTO and co-founder, who spearheaded Web3 security at Ant Financial. His focus on ironclad protection is crucial for a network aiming to go global.

The team's spread across the US, Hong Kong, and Singapore, giving them a front-row seat to both Eastern and Western financial regs. It's this cross-cultural savvy that makes Pharos a true bridge-builder in the industry.

Funding Milestones

In November 2024, Pharos secured an $8 million seed round, a solid vote of confidence from top-tier backers. This infusion is fueling their push into the mainstream.

Hack VC and Faction VC (from Lightspeed) co-led the round, with SNZ Holding as a key cornerstone investor. It's the kind of support that screams potential in Web3 circles.

The funds are earmarked for ramping up their parallel execution engine and forging a worldwide ecosystem for institutional-grade RealFi solutions. Exciting times ahead for builders and users alike.

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