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2019-10-11

EOS will be ported on Ethereum through pTokens

eos-will-be-trasported-to-ethereum-through-ptokens

Provable recently announced their intention to port EOS on the Ethereum blockchain as an ERC-20 token. This token in Ethereum will be called pEOS, not to be confused with pEOS on the EOS Mainnet (privacy token). This will be possible through their new token system, known as pTokens.

EOS has been chosen to be the first token to be ported via the p(ower)-Token pEOS. In this way Ethereum users will be allowed to use EOS in any Ethereum dApp.

The link between the two blockchains is made through a Trusted Execution Enclave, a physical piece of hardware where the two blockchains meet to “hash” things out. You can find the link to their technical paper at the end of the news.

EOS Go is looking forward to a similar feature that ports every Ethereum token on the EOS mainnet!

Edit: According to Thomas Bertani, CEO of Provable, pTokens can already be used to port ETH tokens on EOS.

"In an ideal DeFi system, cryptocurrencies will move freely and seamlessly between exchanges, DApps and wallets. By increasing the liquidity of cryptocurrencies and tokens, we enhance their utility and their transformative power. This fluid economy will catalyse open finance and afford everyone greater financial freedom, privacy and autonomy."

Sources:

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