pNetwork

pNetwork is an open-source protocol that strives to provide interoperability across multiple independent blockchains. It facilitates cross-blockchain functionalities, such as the creation of "wrapped" tokens known as pTokens. These tokens maintain a 1-to-1 peg between the native blockchain and the host blockchain. The pNetwork Token (PNT) serves multiple roles within the ecosystem, including acting as the governance token for the pNetwork DAO, the staking currency for pNetwork nodes, and as compensation for services provided by these nodes.

pNetwork operates by enabling the movement of assets, NFTs, and data across different blockchain ecosystems. It achieves this through its unique user-friendly process and flexible design. The protocol's main feature, pTokens, are designed to maintain a 1-to-1 peg between the native blockchain and the host blockchain. This allows for cross-chain connections for both mainstream assets and smaller tokens. With the release of pNetwork V2, pTokens have become fungible across chains, meaning users can move their pTokens directly across any of the supported chains without needing to return to the native blockchain.

pNetwork seeks to serve a variety of verticals, including the DeFi ecosystem, the NFT space, and the on-chain gaming industry. Its main target market is the DeFi ecosystem, which it addresses through its pTokens feature. The protocol enables the movement of assets, NFTs, and metadata across blockchains, sidechains, and L2 networks. This makes it a valuable tool for developers and users who want to interact with multiple blockchains without the need for multiple wallets or platforms.

pNetwork was launched in late 2019, originally under the name pTokens. It was developed as a cross-chain solution to connect multiple blockchains and assets. The first cross-chain bridging solution, connecting Bitcoin and Ethereum, went live in March 2020. Since then, the protocol has expanded to enable the movement of assets, NFTs, and data across over 15 networks. The protocol has undergone several evolutions with the goal of increasing decentralization. Today, pNetwork powers connections across a variety of blockchain environments and Ethereum scaling networks, and has processed a significant volume of transactions.