New Crypto Currency “Proton XPR” Could Shock The World

Proton is a public blockchain designed for consumer applications and seamless P2P payments. Fiat on and off ramps and lack of KYC have been significant obstacles in opting in crypto as a day to day payment system. Proton tackles this problem by integrating a secure identity layer.

 

Verified Identities

Proton wallet users can opt into providing KYC information, create an id, get a verified checkmark, and unlock new features of Proton blockchain. So rather than using ridiculously long addresses, you can move funds (fiat or crypto) between your bank accounts and @JohnSmith Proton wallet and push payments requests to @BobSmith. Verified accounts will be able to Proton’s decentralized ID will allow users to choose when and what parts of their identities to reveal.

 

Proton Blockchain

Proton is a result of a joint effort of two projects Metal Pay, a cash and crypto payment app with more than 100K users and Lynx, an EOS wallet. Proton Blockchain has been integrated with the two apps since its day 1.

Proton uses the EOS dPoS governance model, which allows Proton token (XPR) stakers to select block producers. Proton can process 4,000 transactions per second and does not charge gas fees to users.

Marshall Hayner the founder of Proton and Metal Pay has big plans up his sleeve for the future. He plans on making Metal Pay the first global crypto bank. He focuses on real world use cases and is dominant in the crypto space. Will Marshall achieve this goal and give world wide adoption to the crypto world? 

DeFi

Proton has made its foray into DeFi in early 2021. Launched in Q1 2021, ProtonSwap is a DEX that allows tokens to be wrapped in Xtokens then be swapped. ProtonSwap charges 0.3% transaction fees but fees can be discounted depending on how many XPRs you are staking. More on fee reduction rate here. To use ProtonSwap, identity verification is required. ProtonSwap is audited by PeckShield.

Proton also rolled out an NFT marketplace. Proton Market is currently in beta. Proton Market has made more than $500K in NFT sales. Proton looks to bridge ERC-721 NFTs.