Pastel Network Partners with TomoChain to Integrate Pastel’s Sense and Cascade Protocols

Pastel is excited to announce its partnership with TomoChain — a layer 1 blockchain. TomoChain will be integrating Pastel’s Sense and Cascade protocol across its native NFT standard. This partnership signifies a massive step forward for the NFT ecosystem.

TomoChain has developed an NFT token standard — TRC721 — on the TomoChain network, expanding the possibilities for NFT platforms. One of these platforms built on the TomoChain blockchain is Pantograph, which allows users to digitize audio, video, and still images into NFTs, create NFTs without coding, buy, sell and auction NFTs, create communities on the platform, trade NFTs, and manage NFT assets. Through TomoChain’s integration with Pastel, NFT platforms built on the former will be able to leverage Pastel’s Sense and Cascade protocols to provide native storage and the duplicate-detection verification system to their users.

“The partnership with Pastel Network is a welcoming one, as it aligns greatly with our development value at TomoChain. Not only that, this integration with Pastel Network will also provide a rich layer for users to have a deeper understanding of ownership, value, and scarcity, especially within the NFT Space,” said Long Vuong, Founder and CEO of TomoChain. “We are excited to see this collaborative effort take off in the near future.”

Across the industry, digital asset security and reliability have become the primary issues plaguing organizations. Scams and frauds are rampant while centralized storage is showing their weaknesses and vulnerabilities. All layer 1 Blockchains and layer 2 Dapps are experiencing these road blocks and are on the search for solutions. Pastel provides them.

With Pastel’s Sense and Cascade protocols, organizations have the ability to prove authentication and certify the rareness of NFTs while having access to permanent and reliable storage.

“TomoChain provides robust NFT infrastructure, encouraging developers to take advantage of their versatility and adaptability” said Anthony Georgiades, Co-Founder of Pastel. “Pastel is eager to collaborate with TomoChain to provide all NFT projects housed in the ecosystem to take advantage of our unique protocols, crucial to the long term sustainability and success of the NFT space.”

Sense is a lightweight protocol on the Pastel Network, built to assess the relative rareness of a given NFT against near-duplicate data. Sense can recognize even the most subtle similarities between two digital collectibles, even if one has been transformed. The protocol goes beyond the standard “digital fingerprint” approach to establishing the rareness of an NFT, and actually looks at the rareness of the pixel patterns in data. While digital fingerprints do allow users to verify that an NFT was created by a particular creator, this is a fairly weak form of rareness. Sense solves this problem by assigning a ‘Relative Rareness Score’ to quantify how rare an NFT is relative to all NFTs in the underlying dataset.

Sense leverages a number of deep learning models using Tensorflow with Keras Applications to transform each NFT into a fixed list of over 10,000 numbers (the ‘NFT fingerprint vector’). It then assesses the correlation between a given fingerprint and the database of all existing fingerprints on Pastel and TomoChain’s platform, other NFT marketplaces (e.g., Rarible, OpenSea), and open databases on the entire internet (e.g., Google) and outputs a relative rareness score — a number between 0% (i.e., the NFT is identical to a previously registered NFT) to 100% (i.e., the NFT is completely unique). Sense “sees through” superficial changes in the same way as a human eye, and, like a human, can recognize even the most subtle change in an NFT.

Cascade, on the other hand, is a distributed storage protocol purpose-built for NFT metadata in a fully redundant, decentralized, and permanent manner. Pastel is the first NFT platform to have its own completely integrated, decentralized storage layer based on the advanced technologies of RaptorQ and Kademlia.

By leveraging the RaptorQ fountain code algorithm, Cascade begins by breaking each asset into a series of redundant chunks. Every chunk contains certain random fragments of the combined file which is distributed redundantly across participating SuperNodes running on the network. Two parameters control how the data is encoded into chunks: 1) size of each chunk and 2) desired redundancy factor. The sets of chunks are then randomly distributed across network nodes using Kademlia. No complex or centralized system for deciding which node is responsible for which chunk, no iteration through SuperNodes to find one with the relevant chunk, and no complicated logic for handling chunk re-allocation when SuperNodes enter and leave the network.

These first-of-their-kind protocols combat the most challenging of issues that every organization and individual is experiencing across the NFT ecosystem. TomoChain clearly saw the need for next-generation solutions to help support its network and platforms. This partnership with TomoChain is a prime showcase for what Pastel can offer to the entire space.

About TomoChain

TomoChain is a scalable blockchain-powered via Proof-of-Stake voting consensus and used commercially by companies globally.
TomoChain’s mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits.

About Pastel Network

Pastel is the world’s preeminent protocol standard for NFT technology. Pastel also allows for the development of third-party applications to sit on top of its Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader ecosystem. Lightweight protocols such as Sense — which was built to assess the relative rareness of a given NFT against near-duplicate metadata — and Cascade — which conducts permanent, distributed storage of underlying NFT data — can be integrated across any native L1 blockchains or L2 marketplaces.
Pastel is an entirely native blockchain supported by SuperNodes, which provides computational resources to the network to support asset registration, distribution, and permanent storage. Pastel is managed by world-class developers, cryptographers, and technologists, supported alongside an experienced and extensive network of marketers, influencers, and third-party agencies. Pastel is backed by key stakeholders including Innovating Capital, a prominent venture fund.

Originally Published on Pastel Network’s Medium.

Pastel Network Announces Cooperation with MEXC Global

We are excited to announce the cooperation of Pastel with MEXC Global. Through this cooperation, MEXC will provide the offering and trading of Pastel’s native utility token, PSL, on the MEXC Exchange.

The listing is expected to take place around November 23rd, 2021 at 13:00 UTC.

Additionally, we will be launching the MEXC Kickstarter Event. This event is a campaign leading up to the official listing of PSL on the exchange. MEXC users will be able to stake tokens towards a predetermined goal that once is hit will earn rewards for participating users ahead of the official listing.

The Kickstarter Event is expected to take place from 02:00 to 10:50 UTC on November 23rd and is open to any MEXC user, so be sure to register before we launch!

What is PSL?

PSL serves as the native utility token on the Pastel Network. By running on a fully dedicated, purpose-built blockchain for the specific use case of rare NFTs, PSL is the foundation for accessibility. Inherently, PSL empowers the permission-less, borderless economy for rare digital assets.

PSL serves a variety of utility use cases within the Pastel ecosystem: PSL can be used by creators and collectors to securely register and store NFTs on the Pastel Network. PSL is also used by third-party builders, networks, and partners to power a variety of applications and open-protocols on Pastel, such as Sense for Near-Duplicate NFT Detection and Cascade for permanent NT storage. The underlying token mechanics support a low inflationary model through constant Proof of Burn.

About MEXC

Founded in 2018, MEXC Global is known as the exchange of high performance and mega transaction matching technology. The team at MEXC Global are some of the first movers and pioneers of financial and blockchain technology. Currently, MEXC Global caters to 6 million+ users in more than 70 countries around the world and we have just started. This magnificent achievement is a significant milestone, and MEXC Global aims to become the go-to platform for new traders and experienced investors as they move forward in their financial journey.

MEXC Global is present across continents obtaining key licenses and passing jurisdictions in countries like Canada, Australia, Estonia and the United States. MEXC Global also offers localized language support for investors from different countries making it easier for them to trade.

About Pastel

Pastel is the world’s first fully dedicated, decentralized NFT platform allowing users to register, store, and trade ‘provably rare’ assets. The platform gives creators a way to securely connect with fans and sell unique, limited edition digital assets –without the high fees or storage constraints of other crypto projects. Pastel also allows for the development of third-party applications to sit on top of the Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader network. By leveraging a purpose-built native blockchain, Pastel deploys a number of key features such as a deep-learning based duplicate detection system to ensure proven authenticity.

Pastel is is an entirely native blockchain supported by SuperNodes, which provide computational resources to the network to support asset registration, distribution, and permanent storage. Pastel is managed by world-class developers, cryptographers, and technologists, supported alongside an experienced and extensive network of marketers, influencers, and third-party agencies. Pastel is backed by key stakeholders including Innovating Capital, a prominent venture fund.

Originally Published on Pastel Network’s Medium.

Announcing the launch of Wrapped Pastel Conversion Services

We are excited to announce that the Wrapped PSL (wPSL) Wrapping / Unwrapping Conversion Services are now available. Try it out today at WrappedPastel.Com!

Introduction — What is wPSL?

Wrapped Pastel, or wPSL, is an Ethereum token based on the ERC-20 standard that is used as an equivalent to regular Pastel (PSL) to work on the existing Ethereum ecosystem. This allows it to be stored in wallets such as MetaMask, and also allows wPSL to be traded on Ethereum DEXs. Currently, wPSL is available on Uniswap, where users can swap between ETH and WPSL, as well as provide liquidity to the ETH/WPSL pool.

How wPSL Works

First, Pastel granted 250,000,000 PSL to a multi-signature wallet address on the Pastel blockhain held by a third-party custodian, Wrapped Pastel Custody LLC, which can be viewed and verified here. Correspondingly, Wrapped Pastel Custody LLC issued a smart-contract on the Ethereum Mainnet and created 250,000,000 wPSL such that there is a one-to-one relationship of wPSL to PSL in circulation. The ERC-20 smart contract can be found here, while viewers can also verify the contract source code openly here.

Launch of the Wrapping and Unwrapping Services

Now, users are able to convert from wPSL to “native” PSL coins that can be used on the Pastel Network to mint or trade NFTs and run Pastel services such as our Near-Duplicate NFT Detection Protocol and our NFT Storage Protocol. Likewise, existing PSL holders can wrap their PSL into wPSL to access functionality directly on Ethereum such as pooling liquidity.

How to use WrappedPastel.Com

Holders of PSL or wPSL are able to leverage the conversion services of WrappedPastel.com. Note that for regulatory reasons, the Wrapped Pastel conversion services are not available to citizens or residents of the United States and other sanctioned countries. Read below for a brief tutorial on how to use the Wrapped Pastel conversion services:

Signing up for WrappedPastel.Com

  1. Sign up for an account at WrappedPastel.com using Google Authorization.

2. Verify your identity using Stripe’s Identity Service in order to ensure that your country of origin is compliant with all applicable laws and regulations.

3. Once your account is verified, users will be able to wrap from native PSL to wPSL, and unwrap from wPSL to PSL. Note that it can take up to 24 hours for your account to be verified by Stripe. Once your account is verified, you will be able to log-in directly to access your dashboard and conversion services.

There is a 100,000 PSL/wPSL Minimum and 500,000 PSL/wPSL Maximum per conversion request. Note that users are able to convert as little as 10,000 PSL/wPSL for their first conversion in each direction to try out the conversion services.

Wrapping: PSL to wPSL

  1. To wrap from native PSL to wPSL, users simply click the “Convert PSL to Wrapped PSL” prompt.

2. Then, simply enter the Amount of PSL to convert into wPSL (note minimum 100,000 PSL to 500,000 wPSL), your ETH address for where you want to receive your wPSL and your PSL Transparent Address should a refund need to be issued.

3. Once your account is verified, users will be able to wrap from native PSL to wPSL, and unwrap from wPSL to PSL. Note that it can take up to 24 hours for your account to be verified by Stripe. Once your account is verified, you will be able to log-in directly to access your dashboard and conversion services.

There is a 100,000 PSL/wPSL Minimum and 500,000 PSL/wPSL Maximum per conversion request. Note that users are able to convert as little as 10,000 PSL/wPSL for their first conversion in each direction to try out the conversion services.

Wrapping: PSL to wPSL

  1. To wrap from native PSL to wPSL, users simply click the “Convert PSL to Wrapped PSL” prompt.

2. Then, simply enter the Amount of PSL to convert into wPSL (note minimum 100,000 PSL to 500,000 wPSL), your ETH address for where you want to receive your wPSL and your PSL Transparent Address should a refund need to be issued.

3. Once you click “Validate” you will receive a prompt for where to send your PSL, which uses a unique temporary z-address. Note — you must send exactly the amount of PSL as you initially entered.

4. Once you click “Convert”, you should see a prompt that the conversion has been Initiated.

5. Once the Pastel blockchain receives the adequate PSL to the temporary z-address, the transaction will show as ‘Pending’ until there is at least 1 block confirmation.

6. Lastly, the user will be sent the corresponding amount of wPSL, less a 1% fee that is used to handle costs like Ethereum Gas fees.

You will then find your wPSL in your ETH wallet!

Unwrapping: wPSL to PSL

  1. To unwrap from wPSL to native PSL, simply click the “Convert Wrapped PSL to PSL” prompt.

2. Then, simply enter the Amount of wPSL to convert into PSL (note minimum 100,000 PSL to maximum 500,000 wPSL), your PSL address for where you want to receive the PSL (note that only Transparent Addresses are supported) and your ETH Address for where you are sending the wPSL from.

3. Once you click “Validate” you will receive a prompt for where to send your wPSL, which is the Wrapped Pastel ETH address. Note — you must send the EXACT amount of wPSL as you initially entered.

4. Once you send your wPSL and the transaction has been received on the Ethereum blockchain, you will see the following prompt showing that the conversion has been inititated:

5. Wait a few minutes for the transaction to be confirmed

How much does it cost to Wrap or Unwrap on WrappedPastel.com?

In order to cover the administrative and legal costs associated with operating the service — such as Ethereum Gas fees and Stripe Identity Service costs — WrappedPastel.com charges users a service fee equal to 1% of the converted amount. For example, if you convert 100,000 wPSL into PSL, you will receive 99,000 PSL at your PSL address (i.e., the converted amount will be net of the 1% service fee).

Want to learn more or still have a question? Visit us here.

About Pastel

Pastel is the world’s preeminent protocol standard for NFT technology. Pastel also allows for the development of third-party applications to sit on top of its Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader ecosystem. Lightweight protocols such as Sense — which was built to assess the relative rareness of a given NFT against near-duplicate metadata — and Cascade — which conducts permanent, distributed storage of underlying NFT data — can be integrated across any native L1 blockchains or L2 marketplaces.

The native platform living directly on top of the Pastel Network also gives creators a way to securely connect with fans and sell unique, limited edition digital assets –without the high fees or storage constraints of other crypto projects. By leveraging a purpose-built native blockchain, Pastel can deploy a number of key features such as Sense’s deep-learning based near-duplicate detection system to ensure proven authenticity.

Pastel is an entirely native blockchain supported by SuperNodes, which provide computational resources to the network to support asset registration, distribution, and permanent storage. Pastel is managed by world-class developers, cryptographers, and technologists, supported alongside an experienced and extensive network of marketers, influencers, and third-party agencies. Pastel is backed by key stakeholders including Innovating Capital, a prominent venture fund.

Originally Published on Pastel Network’s Medium