Next-Gen Financial Protocol — Persistence Protocol

5 min readMay 10, 2021

DeFi, a new breakthrough that incorporates a new financial architecture with a more open decentralized structure, has recently gained popularity in the Crypto Sector. This one-of-a-kind financial architecture provides a range of decentralized transaction mechanisms to meet the diverse needs of its consumers in a single ecosystem. Currently, the various DeFi Platforms available are based on the Ethereum Network Blockchain Network, which is arguably very inefficient due to unreasonable fees and very long transaction confirmation times, averaging more than $ 2 for basic transactions and more than $ 10 for exchanges on some of the DeFi platforms, this price is relatively very expensive and does not maximize the potential of Blockchain eve. Persistence is a one-of-a-kind DeFi Interoperable Protocol that creates next-generation Financial Protocols that are more powerful and less expensive than the Ethereum Network.

What exactly is Persistence?

Persistence is a new innovation that creates a unique interoperable protocol system that is built to facilitate the next step in the evolution of Decentralized Finance products using Blockchain technology, an Interoperable Protocol designed and introduced by Persistence to provide a new financial environment for Traditional Institutional Financial Applications to be able to use a Decentralized Finance product. and gradually transform to be able to evolve and run the Financial technologies provided by Persistence, eventually providing a more efficient framework to connect the domain of DeFi and conventional finance in different fields, as well as allow the development of creative solutions toward crypto to extend the DeFi market and introduce NFT in its ecosystem. The Persistence Scheme employs a novel architecture arrangement that integrates DeFi, NFT, and Staking (PoS) into a single sophisticated ecosystem.

The Persistence Chain Network is extremely versatile and serves as the foundation for the modern Open Finance dApps ecosystem, allowing organization matching for lenders and borrowers. The Persistence chain’s design provides a modern structure with optimum speed and security, as well as anonymity for its users or who has previously settled upon market specifications. The Persistence Framework architecture enables dApps to run individually and independently without being influenced by the rise in transactions faced by other dApps in the Persistence Chain, and it offers an experience for the needs of end users or other parties. Persistence generates a one-of-a-kind new Chain that runs on the Tendermint consensus engine, which is built on Byzantine Fault Tolerant (BFT) and a Proof-Of-Stake (PoS) system.

Benefits

The Ecosystem Protocol built for persistence offers a variety of applications, each with its own set of advantages. Users are spoiled for a one-of-a-kind solution that is really useful and is based on Blockchain technology.

PStake

PStake is a Blockchain-based platform that enables multiple staking mechanisms to free up liquidity for the assets at stake, allowing shareholders to maximize the yield of assets staked from various income sources.

Comdex

Comdex is a feature that becomes a solution for commodity trading based on Blockchain which decentralizes different processes where this feature more efficiently enables the end-to-end trading cycle like exchange exploration, payment, and finance in the environment through specially developed algorithms for decentralized commodity trading.

Audit.One

Audit.one is a specific approach that enables the Staking-as-a-Service model for proof of ownership networks to be incorporated into its protocol, Audit.one makes it possible for institutional fund managers who wish to extract money from Staking-as-an-Asset more efficiently.

NFT

Persistence Protocol is creating a one-of-a-kind NFT Marketplace with one-of-a-kind functionality that will be introduced in the near future. Persistence team developing a strong framework for the NFT Marketplace that helps everybody to transact and receive specific NFTs in the protocol in a secure, inexpensive, and timely manner.

DeFi.

Not to mention, the Persistence Protocol incorporates Decentralized Finance (DeFi) into its ecosystem, allowing different financial processes to be carried out more effectively and transparently through a special DeFi mechanism built on Blockchain technologies.

Native Persistence Coin

The Persistence Protocol would employ a Native currency based on Blockchain technologies, known as the XPRT Token. XPRT has many advantages and plays an important part in the environment. In addition to serving as an economic instrument in the ecosystem, XPRT can be used for Staking, which provides income to its members, and governance, in which the society, especially the Holders, can decide various developments in the ecosystem. XPRT employs the Deflationary principle, which lowers the inflation rate in order to keep the token value stable. If you’re curious, you can learn more at https://persistence.one/xprttoken

Growth of the Blockchain Market

Blockchain was first introduced almost 11 years ago by Satoshi Nakamoto, the founder of Bitcoin. During the last several years, Blockchain also continued to develop with new, very unique innovations and various concepts that have been continuously improved from time to time. Blockchain technology has changed many basic aspects of life such as the one we know it now by introducing a new system that is based on blockchain technology. Protocol Persistence, on the other hand, is a modern invention that maximizes Blockchain’s potential by acting as a bridge to apply it in different facets of life or company.

Partners

Conclusion

Persistence Protocol is a modern invention that is very unique and fascinating in that it presents a new multi-functional environment for a variety of items, especially DeFi, Commodity Trading, NFT, Staking, and so on. Via the Persistence Protocol, various parties ranging from individuals to corporations may use a more stable platform to build and apply Blockchain to their Business Backend. Furthermore, the modern Blockchain-based operating system simplifies a variety of transaction processes. I hope you will be a part of the Persistence Protocol, which is a very innovative and promising idea!