What is proton (XPR)?

Highlights

  • Newly launched Proton (XPR) is a smart contract platform, developed for the ease of using crypto among its users.
  • Known for having faster transaction speed and free user transactions, Proton is hugely popular in the crypto space.
  • Bithumb, OKEx, etc., are some of the popular exchanges where this crypto is available.

With a massive rise in the popularity of Bitcoin, many tech-savvy investors are keen to invest in the crypto market. This has given a rise to the advent and creation of many new cryptos, equipped with the latest and unique features. One such new crypto is ‘Proton’.

Related Read: What caused Bitcoin’s price rise in last one week?

cryptocurrency, Proton, Bitcoin

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Know the Proton

Functioning as a decentralised blockchain, Proton (XPR), which was introduced in San Francisco, is a smart contract platform developed keeping in mind peer-peer payments and customer applications.

This new public blockchain was created as a joint effort of Metal Pay and Lynx, as both these companies aim at making crypto easily available for everyday use to the customers.

What is proton (XPR)?

Some of its early investors include Brian Kelly from CNBC Fast Money, Erik Voorhees, working as the CEO of ShapeShift and Alphabit Fund, which is a digital currency fund.

Interesting Read: How does Ripple payment work?

How does Proton function?

Here, while using Proton, all the transactions are recorded on blockchain, wherein each user has a verified identity.

The said user identity is integrated with a financial settlements layer, allowing the users to directly link their identity with fiat accounts, thus enabling them to pull funds and buy cryptos.

Keeps the user identity secure

In the Proton network, the user keeps the private key and other sensitive information confidential, while merchants or institutions who want to examine the user identity are permitted to do so through public keys.

Do Read: Zcash: The Crypto That Promises Anonymity

Capable of handling more traffic as compared to other blockchains

Proton boasts of having faster transaction speed as compared to its peers, i.e., it can process 4,000 transactions a second, thus settling over 40 million transactions every day.

Also, it is pointed out that all user transactions are free, which is one of the main reasons for its growing popularity among cryptocurrency users.

Are Proton holders rewarded?

Built on a POS model, Proof of Stake model, long-term Proton coin holders who vote are rewarded with Protons in exchange for their tokens.

It is noted that the longer the staking commitment, the higher are the rewards in this blockchain.

Also Read: Top 10 crypto exchanges to explore as digital coins gain popularity

Which are the exchanges where Proton is available?

XPR is available on a variety of exchanges for trading purposes. Some of them are Bithumb, HitBTC, OKEx, Metal Pay, ProtonSwap, Bithumb Global, etc.

Related Read: Australian crypto exchange, Swyftx, introduced in New Zealand

Bottom Line

With its fast-growing popularity, Proton aims to enable its customers to trade in its tokens in a simple, hassle-free manner, anywhere across the globe.

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