Panthea EU is a highly trusted, reliable and secure Proof-of-Stake infrastructure provider and validator on several popular blockchains in the Cosmos Network.
The Cosmos Network is a decentralized network of independent, scalable, and interoperable blockchains, creating the foundation for a new token economy.
What is a Blockchain?
A blockchain can be described as a digital ledger maintained by a set of validators that remains correct even if some of the validators (less than a third) are malicious. Each party stores a copy of the ledger on their computer and updates it according to the rules defined by the protocol when they receive blocks of transactions. The goal of blockchain technology is to make sure the ledger is correctly replicated, meaning that each honest party sees the same version of the ledger at any given moment.
The main benefit of blockchain technology is the ability for parties to share a ledger without having to rely on a central authority. Blockchains are decentralized. The first and most famous application of blockchain technology today is Bitcoin, a decentralized currency.
Beyond Bitcoin, blockchain technology has evolved to support a myriad of other applications including smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and more, demonstrating its flexibility and potential beyond just a digital currency system. Ethereum, for instance, extends the basic principles of blockchain to include smart contracts - self-executing contracts with the terms of the agreement directly written into lines of code. These developments signify blockchain's ability to facilitate trustless and secure transactions in a variety of contexts without intermediaries, paving the way for more transparent, efficient, and inclusive financial systems and beyond.