With a major rise in the popularity and demand of Bitcoin, many tech-savvy investors are looking to invest in the crypto market. This has given a rise to the advent and creation of many new cryptos. They equip with the latest and unique features. Such as the new crypto is ‘Proton’.
Know the Proton
Functioning as a decentralized blockchain, Proton (XPR), which started in San Francisco, is a smart contract platform to keep in mind peer-peer payments and customer applications.
This new public blockchain started as a stronger partnership between Metal Pay and Lynx, as both these companies’ main objective is making crypto easily available for everyday use to the customers.
What is Proton (XPR)?
Some of its first investors include Brian Kelly from CNBC Fast Money, Erik Voorhees, working as the CEO of ShapeShift and Alphabit Fund, a digital currency fund.
How does Proton Function?
Here, while using Proton, all transactions record on the blockchain, wherein each user has a verified identity.
The user identity integrates with a financial settlements layer. It allows the users to directly link their identity with fiat accounts. Therefore, it enables them to withdraw funds and buy cryptos.
The User Identity is Kept Secure
Within the Proton network, the user keeps the private key and other sensitive information private, while merchants or institutions who want to examine the user identity can do so through public keys.
XPR’s Able to Handle More Traffic than Other Blockchains
Proton praises itself for having faster transactions than its peers, i.e. It is able to process 4,000 transactions a second, thus settling over 40 million transactions per day.
Also, it mentions that all user transactions are free. Which is one of the biggest reasons for its growing popularity among cryptocurrency users.
Are There Rewards for Proton Users?
Built on a POS model, Proof of Stake model, long-term Proton coin holders who vote are rewarded in Protons in exchange for their tokens.
It notes that the longer the staking commitment, the higher the rewards are in this blockchain.
Which Exchanges does Proton Trade On?
XPR is available on many different exchanges for trading purposes. Some of them are Bithumb, Bithumb Global, HitBTC, OKEx, Metal Pay, ProtonSwap, etc.
The Bottom Line
With its popularity growing ever so vastly, Proton’s objective is to enable its customers to trade in its tokens in a simple, easy manner, anywhere in the world.
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