Pharos Network: The New Ultra-Fast EVM-Compatible L1

Pharos Network is a new L1 network based on the EVM (Ethereum Virtual Machine) that promises a high rate of transactions and blocks per second, focused on real financial use cases and Real World Assets (RWAs).

Being EVM-compatible means users who are already familiar with wallets like MetaMask or Rabby can use this network easily, without needing specific software and with day-1 compatibility with hardware wallets like Ledger or Trezor. It also makes life easier for developers, who can deploy their dApps without rewriting code.

Fast, secure, and modular is what Pharos promises; here are some numbers to illustrate the network’s potential:

• 30,000 TPS (transactions per second).
• 2 Gigagas (gas processed per second).
• Less than 1 second block time.
• Up to 1 billion concurrent users.

This processing speed isn’t just a technical gimmick: traditional financial markets require operations to be executed and confirmed in seconds—not minutes.

Pharos isn’t here to be just another L1—it positions itself as a network focused on RWAs (Real World Assets), meaning real-world assets on the blockchain (stocks, gold, real estate, bonds, etc.). Pharos aims to be the infrastructure for issuing, managing, and using tokens representing real assets as collateral. Imagine being able to take out a loan in USDC using the tokenized representation of your NVIDIA shares as collateral—without having to sell them. Or fractionalizing the ownership of a property among multiple investors and enabling its trading on secondary markets. All on blockchain, with the liquidity and composability that DeFi offers.

As we announced a few weeks ago, Stakely, in collaboration with Pharos, made available a faucet for users to get tokens for the Atlantic testnet; this way, as we’ll explain below, you can try out Pharos in its earliest stage.

Additionally, as Pharos announced just a few hours ago on their X account, Stakely is part of the fourth batch of network validators, and we are proud to be part of its validator set. Very soon, we’ll be validating transactions on the Atlantic Testnet.

If the introduction left you wanting more, let’s dive deeper into how Pharos works “under the hood”: its modular architecture, execution engine, and consensus mechanisms that allow it to achieve those impressive performance figures. Pharos not only promises speed—it designs each component with real financial use cases in mind, like RWAs, instant payments, and large-scale DeFi.

Layered system

Instead of cramming everything into a single monolithic layer, Pharos separates the network into specialized parts that work in coordination: one for data, another for core processing, and another for innovation. This allows each piece to scale independently without compromising overall stability.

• Storage and distribution layer (L1-Base): responsible for efficiently storing the network’s data and distributing it to all nodes.

• Consensus and execution layer (L1-Core): where transactions are ordered, blocks are formed, and smart contracts executed. This is the beating heart that validates the blockchain’s state in real time.

• Extension layer (L1-Extension): used to add advanced features like sidechains, machine learning, or specific integrations without touching the secure core of the network. It enables rapid innovation.

Parallel execution

One key to performance is processing many transactions simultaneously if they don’t interfere with each other, instead of one after another like in more traditional blockchains.

• How it works: It uses “parallel speculative execution” (DAG + Block-STM), where independent transactions are processed at the same time and then reconciled to avoid conflicts.
• Result: Up to 30,000 TPS and 2 Gigagas of gas per second, while keeping transaction costs low.

Consensus and security

“Consensus” is the mechanism by which the entire network agrees on which transactions are valid. Pharos implements AsyncBFT, an asynchronous version of BFT algorithms that are tolerant to malicious failures and optimized for maximum speed.

• Key features:
  • Block time: <1 second.
  • Fast finality: confirmations that are practically irreversible within seconds.
  • Proof of Stake: validators stake tokens to participate, earn rewards, and risk slashing if they behave dishonestly.
  • Optimized for finance: ideal for P2P payments, high-frequency trading, and RWA-backed collateral in DeFi.

This combination of modular layers + parallel execution + AsyncBFT is what positions Pharos to scale to 1 billion simultaneous users without sacrificing decentralization.

If you haven’t used the Atlantic Testnet yet, we invite you to try it out: all you need is a compatible wallet like MetaMask or Rabby and to request test tokens (PHRS) from our Stakely faucet or from Pharos’ official faucets.

From the Experience section of their website, you can complete on-chain and social tasks to explore the network. Check in daily to collect points, and try out the following:

• Test RWA platforms like AquaFlux (structuring and yield from real assets) or Asseto (tokenized finance).
• Send PHRS tokens to other users on the testnet.
• Perform swaps and provide liquidity on DEXs like Bitverse or Faroswap.
• Off-chain tasks: join Discord, follow on X (@pharos_network), retweet, and other community missions.

With the faucet tokens, you’ll be able to mint exclusive NFTs like early adopter badges to immortalize your participation on the blockchain! These interactions help Pharos stress-test the network while you discover its potential. The badge shown below is available as part of the tasks Pharos offers to help you explore the network:

NFT Badge

Pharos enters the scene with a serious proposition: an ultra-fast EVM L1 built from the ground up for RWAs and real-world finance at internet scale, backed by modular architecture, parallel execution, and AsyncBFT consensus. With active testnets like Atlantic, growing partnerships (Morpho, Bitverse, Euclid), and validators like Stakely already operating, the project is executing its roadmap with consistency.

For developers and DeFi users: now is the perfect time to try out RWA dApps in a high-performance environment at zero cost. Connect your wallet, get tokens from the Stakely faucet, and join the future of tokenized assets. Pharos could be the infrastructure that drives the next wave of mass blockchain adoption.

• Discord community: https://discord.com/invite/pharos
• Pharos Testnet: https://testnet.pharosnetwork.xyz/
• Stakely Faucet: https://stakely.io/faucet/pharos-atlantic-testnet-phrs
• Explorer: https://atlantic.pharosscan.xyz/

Blog post written by Anto Torres, Node Operator & Developer at Stakely.