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DeFi Token Proton (XPR) Price Surges Over 60% in a Week

thenewscrypto.com 16 October 2021 21:43, UTC
Reading time: ~2 m

  • Proton has over 40 million daily transactions.
  • XPR is a public blockchain and smart contract platform.

In addition to consumer applications, Proton (XPR) is a public blockchain and smart contract platform. In order to do this, Proton intends to offer a secure, verified identity account with a financial settlements layer that enables users to connect their identity to fiat accounts, withdraw money, purchase cryptocurrency, and utilize it seamlessly in applications.

To do so, Proton creates a permission-less layer on top of card networks and banks. It allows institutions to authenticate the user by using public keys to verify with trustworthy institutions. Trusted institution verification confirms user identification without disclosing private keys. USDC, PAX, and TUSD are supported. Developers may easily add their currencies.

For both people (KYC) and companies (KYB), Proton accepts multiple identity provider attestations (KYB). A user’s permission is required to query these identity providers. The Proton Token has three functions: chain governance, resource allocation, and long-term staking incentives.

In-Wallet Payment

Proton has over 40 million daily transactions. It can manage more traffic than all existing blockchain applications combined. Apps send in-wallet Payment requests to the blockchain. So no more chrome plugins, Dapp-stores, or other devices are required.

XPR/USDT: Source: TradingView

A quicker and more powerful app from the ground up to boost the Proton ecosystem is being introduced shortly, proton wallet 2.0. It just burned 1.24 million $XPR, contributing to the Proton blockchain’s deflationary pressure. This token burn will permanently destroy the pathway for Proton, benefiting all Proton holders.

According to CoinMarketCap, the Proton price today is $0.035181 USD with a 24-hour trading volume of $52,832,133 USD. Proton is up more than 60% in the last week.

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