XPR Network Price

What Is Proton (XPR)?

Proton (XPR) is a Layer 1 public blockchain and smart contract payment platform designed to encourage mainstream crypto adoption by streamlining payments for consumers and businesses. It allows users to conduct fast, zero-fee transactions with speeds of 4,000 transactions per second (TPS). Proton also supports multiple stablecoins and supports the usage of a human-readable username tied to an account. 

Proton maintains systems of verifying user accounts for consumers (KYC) and businesses (KYB). Verified accounts can take advantage of the platform’s settlement layer for payments and other transaction activity. At first glance, account verification linked to identity may seem opposed to the ethos of blockchain technology. However, Proton posits that properly verified accounts help increase trust in the platform, reducing barriers and easing reservations many individuals and companies have concerning the use of blockchains.

The platform also offers developers three SDKs to help build Proton-based decentralized apps (DApps) — Web SDK for web3 application development, an SDK for the Kotlin programming language, and another SDK for Apple’s Swift programming language.

Proton’s native cryptocurrency is XPR. Besides the Proton blockchain, XPR is also maintained as an ERC-20 token on Ethereum (ETH) and as a BEP-20 token on BNB Chain (BNB).

Proton (XPR) Price 

XPR was launched in April 2020 at an initial price of approximately $0.05. During its first month of trading, the coin reached an ATH of $0.10 on April 27. This was a one-off short spike, with XPR retracing to $0.04 by the end of the month. The coin then went into a slow and steady decline, eventually touching levels as low as $0.004 in early 2021.

In March 2021, XPR experienced its second notable price increase, rising to a local maximum of $0.027 by March 31. This was followed by another correction, as the coin’s price fell to lows of $0.004 by late August 2021. In September to mid-October, XPR experienced a rapid rise that culminated in a local peak of $0.047 on October 20, 2021. 

From that point on, XPR’s extended downtrend has so far lasted more than a year. Between October 2021 and June 2022, XPR’s price declined markedly, dropping to less than $0.003 by late June. The rate of the decline slowed after that, with XPR tentatively looking to find some price stability in late 2022.

What Is Proton (XPR) Used For?

One key use of XPR on Proton is staking to vote for block producers, who help maintain the blockchain. You can also stake XPR in Proton’s own decentralized exchange (DEX), Proton Swap, for yield farming.

Additionally, XPR may be used to rent resources for building DApps, and for minting NFTs on Proton’s blockchain. 

Proton (XPR) Tokenomics 

XPR has a total supply of almost 13.9 billion, with nearly all of this amount representing the coin’s circulating supply. There is no max supply limitation for XPR.

The initial supply of XPR was set at 10 billion coins and was scheduled to be distributed as follows:

• 86.5% — Development support

• 11% — Founder and employee grants

• 1.5% — Airdrops

• 1% — Early investors

Who Is the Founder of Proton? 

Proton was founded by blockchain entrepreneurs, Marshall Hayner and Glenn Mariën, also the co-founders of Metallicus.

How to Store Proton (XPR)

The preferred method for storing XPR coins is via Proton’s own native wallet, available at WebAuth.com. Other supported wallets include Anchor Wallet and two highly popular hardware wallets, Ledger and Trezor.