Pharos Network is an EVM-equivalent Layer 1 blockchain with leaderless asynchronous BFT consensus based on Multi Concurrent Proposers, where every validator can propose part of each block. It uses DTVM, a dual-VM runtime that executes EVM and WASM contracts, plus parallel execution, pipelining, and Pharos Store, a storage engine with built-in Merklization. The network produces blocks in under a second with sub-second finality and charges fees in PROS.
Pharos is primarily used for tokenized real-world assets, programmable payments, and agent-driven applications. Distinguishing capabilities include Special Processing Networks (SPNs) for application-specific execution secured by native restaking, EIP-1559 fees with burned base fees, and Merkle proofs for SPV-style state verification via eth_getProof. These are most useful for RWA issuers, payment platforms, and agent developers that need high throughput with EVM tooling.