A new pNetwork is coming, and it’s NOT a bridge!

The pNetwork Community Association is thrilled to announce pNetwork v4 - Plug & Proof, a modular interoperability protocol or, in short, a bridge enabler.
This upgrade is a radical change and moves pNetwork away from the traditional bridge category.

pNetwork v4 will initially support EVM-based chains including Ethereum, BNB Chain, Gnosis, and Polygon. As we move forward, integration efforts will extend to non-EVM chains such as EOS-like chains (Telos, Libre, Ultra, etc.), Algorand, and Solana.

Revolutionizing pTokens

In pNetwork v4, pTokens are taking the biggest leap forward in pNetwork history. Now, native token issuers can control their pTokens on any host chain supported by pNetwork. This eliminates the traditional dependencies and lock-in effects associated with bridges, handing over ownership and operational control from pNetwork to the protocol or project behind the native token (e.g. Telos Foundation for pTelos, Effect.ai for pEFX, etc.).
This evolution positions pNetwork not anymore as a bridge but as a modular interoperability protocol, greatly enhancing service flexibility and user autonomy.

Additionally, the new standard aims to reduce liquidity fragmentation by ensuring that each whitelisted cross-chain protocol mints/burns a single version of the wrapped pToken. This improvement in fungibility is designed to provide a seamless experience across chains.

On EVM chains, we will adopt the xERC20 standards and explore similar solutions on non-EVM chains where this standard is unavailable. In cases where no equivalent solution exists, we are committed to developing one ourselves. We are already in touch with teams from other networks to ensure the deployment of v4 on all currently supported chains and more.

Flexibility and Modularity

Projects can leverage pNetwork v4 as a standalone service or in combination with other bridges and validators. This open and modular approach allows projects to customize their security configurations according to their unique requirements, enhancing overall security and adaptability.
Plug…and proof! 🔌

An example of this flexibility is our integration with Hashi, where pNetwork v2 is already integrated. We aim to continue our collaboration with Hashi, ensuring that pNetwork v4 is available within their ecosystem as well.
In any case, token owners can autonomously decide which and how many verifiers they want or need for cross-chain transfers.

Key Features of pNetwork v4

1. Decentralized verification: Utilizing one or more verifiers (pNetwork node operators) to ensure data integrity across blockchain networks in a fully decentralized manner.

2. Delegated ownership and control: New token standards, such as xERC20, empower token issuers to manage their pTokens on each host chain, increasing control and eliminating lock-in effects.

3. Modular design: Operate pNetwork v4 independently or alongside other bridges and validators, providing customizable security and configuration options.

4. Global pTokens: Users receive the same pToken when bridging across chains, ensuring a reliable and consistent experience.

5. Delegated gas costs: Users are responsible for transaction execution on the destination chain, promoting transparency and control over gas costs.

The architecture of pNetwork v4 is designed to be simple and easier to audit than previous versions. This reduction in complexity translates into enhanced security.

Details of the new architecture, the various on-chain entities, and the new pNetwork Authorization System can be found in the attached dataflow diagram and more technical details can be found in the updated pNetwork Wiki.

What happened to pNetwork v3?

pNetwork v3 was released in December 2023 as a beta release. Despite its innovative direction towards decentralization, v3 was complex, challenging to maintain, run, and audit. It also required active participation from pNetwork nodes, which did not materialize as expected.

pNetwork v4 takes the best aspects of v3, achieving the same decentralization goals with less effort, more flexibility, and greater simplicity.

With the launch of pNetwork v4, the current pNetwork v2 architecture will be phased out over the coming months. This transition, which won't require any changes on the user side, is essential for the continued support and enhancement of our products.

The transition to pNetwork v4 is a significant step forward for pNetwork, reversing our approach to cross-chain interoperability.
Join us in this journey, follow us on X, and join our Telegram group to learn more and chat with the team!

The pNetwork Community Association is a Swiss association led by community members who are long-term supporters of pNetwork as a technology, token, and protocol. It aims to contribute to the development, growth, and education of anything pNetwork-related.

pNetwork is a protocol that enables cross-chain operations, such as transferring assets from one blockchain to another. It is designed to provide interoperability between different blockchain networks, allowing users to take advantage of the unique features and capabilities of each network while still being able to access and use their assets on other networks.