Proton is a blockchain and smart contracts protocol designed for consumer applications and peer-peer payments. It aims to make cryptocurrencies more accessible to everyday consumers by allowing them to connect their fiat accounts to buy and use crypto seamlessly in different applications. XPR is Proton's native token.
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What Is Proton XPR Coin
XPR is Proton's native coin that fuels the network operations. XPR is used for governance, network development, resource allocation, and staking.
XPR holders can vote to select Block Producers (BPs) who verify transactions and decide on protocol changes. At any point, there are 21 BPs who must be pre-approved by the Proton Governing Council, an independent entity consisting of up to 59 different organizations representing a wide variety of stakeholders.
XPR is used for network payments. Teams can rent resources from the chain to build various types of apps from demo to enterprise level.
Proton uses the delegated Proof of Stake consensus mechanism. By staking XPR, token holders secure the network and receive rewards sent to the Staking Pool.
Proton was launched on the mainnet in April 2020 with an initial supply of 180 million tokens distributed via an airdrop and private sale. The total supply of XPR is 12,389,482,393.
XPR price is volatile. Also, the current price may vary across trading platforms depending on their data tracking systems and exchange fees.
How Does Proton (XPR) Work
Proton aims to provide a mechanism that allows users to create a verified identity account integrated with a financial settlements layer and directly link it with fiat accounts to buy and use crypto seamlessly in apps. It offers an optional KYC (Know Your Customer) identity store to enable the on-chain identity check. Users can fund their accounts, purchase crypto, and move their assets across different DApps without the need to reveal their private, sensitive information. Instead of sharing private keys with merchants, users provide the name they created while signing up.
Proton creates a permission-less layer on top of traditional card networks and banks. The user keeps the private key in confidence, while the institutions can only verify the user’s identity by checking with trusted institutions via public keys without revealing the user’s associated private key.
Proton (XPR) Founders
The Proton protocol was created as a joint effort by Metal and Lynx companies in 2020.
Metal is a financial services company founded in 2016, intending to bridge the gap between traditional and decentralized finance. Co-founders of Metal Pay are Marshall Hayner and Glenn Marien.
Marshall Hayner is Proton's CEO. He is an entrepreneur with extensive experience in the financial services industry. Previously, Hayner founded crypto projects QuickCoin and Block.io.
Glenn Marien is Proton's Chief Security Officer. He is a full-stack developer with over 10 years of experience. Previously, Marien created the first online wallet for the cryptocurrency Dogecoin, Dogechain.info.
Lynx shares Metal's vision of making crypto available to the masses. The company stands behind the development of the biggest EOS wallet in the USA and the EOS fork Lynxchain, launched in 2019.
Fred Krueger is Lynx's CEO. He is a professional entrepreneur and the executive chairman at Metal. Previously, Krueger founded the publicly-traded company Minds and Machines and a platform for mobile, Gradient X.
How to Buy Proton (XPR) Coin
Proton is hugely popular in the crypto market for faster transaction speed and free user transactions. XPR is available on various crypto exchanges, including KuCoin, Gate.io, Bilaxy, Bithumb, HitBTC, OKEX, etc. Get started with checking the live Proton price today!
