Domestic internet giants can no longer hold back; Ant Group has officially launched a new public chain and is entering the RWA track!

The former CEO of Ant Chain has started a new public chain called Pharos, bringing along a team of technical developers from the Ant ecosystem.

With such a team background, Pharos has established an exclusive partnership with Ant Group, primarily focusing on RWA, bringing real-world assets onto the blockchain.

The relationship between Pharos and Ant is similar to that between Sui/Aptos and Meta.

Since domestic companies cannot create public chains, the technical team has independently developed a public chain.

Although it is not officially a public chain created by Ant, it is intricately connected to Ant, making it a "direct" project.

Let’s take a closer look at this new public chain of "Chinese power." @pharos_network @0xJayZ @laurashen @wilguish

1. Breaking Through the Policy Dilemma of Chinese Power

Alliance chains are very limited; public chains are the future. The transition from alliance chains to public chains is an inevitable choice for domestic blockchain companies.

Due to the decentralized nature of public chains and potential regulatory risks, they have long been viewed as a red line, forcing domestic companies to stick to more controllable alliance chains.

In the field of alliance chains, the leader in China is Ant Group, whose Ant Chain has accumulated rich experience in supply chain finance, digital asset verification, and other scenarios.

However, the limitations of alliance chains are becoming increasingly apparent: a closed ecosystem, high collaboration costs, and an inability to connect with the global open-source community make it difficult to support greater technological ambitions.

The birth of Pharos is a breakthrough to this dilemma.

The former CEO of Ant Chain led the core team to establish a fully decentralized public chain, avoiding the policy risks of domestic companies directly engaging in public chains while retaining Ant's technological genes.

This "roundabout strategy" is akin to the paths taken by Sui and Aptos when they separated from Meta: the technical team detached from the parent company to participate in global public chain competition as an independent entity.

This model not only provides an opportunity to unleash the potential of China's blockchain industry but also opens a window for domestic technical forces to participate in the Web3 wave.

Therefore, the signals released by Pharos are worth our attention.

2. A New Public Chain with Ant Genes

Pharos did not start from scratch; it is a continuation of Ant's blockchain technology accumulation.

During Ant's seven years of deep cultivation, its team laid a solid foundation in high-performance blockchain design, distributed system optimization, and enterprise-level application implementation.

Pharos inherits this technological foundation and has launched what is claimed to be the fastest EVM-compatible Layer-1 public chain, achieving an astonishing performance of 50K TPS and 2 gGas/second.

This metric not only surpasses Ethereum but is also considered top-tier within the EVM ecosystem.

At the same time, Pharos's choice to be EVM-compatible indicates that it has fully considered ecological continuity.

This not only lowers the migration threshold for Ethereum developers but also facilitates rapid access for global projects.

In the transition from alliance chains to public chains, Pharos has not abandoned Ant's technological advantages but has upgraded them to a globally-oriented open-source network.

Imagine what kind of products could be built when the high-performance technology accumulated by Ant in alliance chains combines with the openness of public chains.

The narrative space here is very worth imagining.

3. Focusing on the RWA Track

Pharos's strategic positioning focuses on real-world assets (RWA), which is both a precise grasp of global trends and a continuation of Ant's existing advantages.

As an emerging track in Web3, RWA's main goal is to digitize and release liquidity for real-world assets, such as real estate, supply chain receivables, and artworks, through blockchain technology.

Ant Group has been laying out in this field for many years, and its supply chain finance solutions and asset digitization technologies have a good reputation in the industry.

The exclusive partnership between Pharos and Ant directly integrates this accumulation into the public chain ecosystem, providing excellent conditions for the large-scale implementation of RWA.

Pharos can not only leverage Ant's resources to quickly enter the RWA market but can also technically complement Ant, jointly exploring diverse scenarios from supply chain finance to real-time payments.

More importantly, Pharos has not limited its vision to Ant but sees it as a starting point, planning to expand to global institutions and enterprises.

Pharos is using RWA to leverage the next growth engine of blockchain.

4. Future Challenges

Pharos's start is strong.

Since its establishment, it has quickly completed an $8 million seed round of financing and plans to launch a developer network, a global hackathon, and a $20 million ecosystem funding plan in early 2025, demonstrating efficient execution.

The collaboration with Ant provides a guarantee for short-term implementation, especially in the RWA field, where dozens of projects have already expressed interest in joining.

However, it must be acknowledged that competition in the public chain ecosystem has become fierce.

Pioneers like BNB and Polygon have already seized market opportunities, and Pharos needs to find more differentiated advantages beyond performance.

On the other hand, the implementation of RWA involves a complex regulatory environment and the acceptance of traditional institutions, which requires time and patience for cross-border collaboration.

5. In Summary

The birth of Pharos is a product of Ant Group's uncontainable ambition.

It is also a new exploration made in the wave of RWA.

From the relaxation of policies in Hong Kong to traditional internet giants like Ant entering the field, we can see that the overall environment is undergoing some changes.

For the global Web3 ecosystem, Pharos represents a new force, and we will see what new things this new force will bring forth.

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