| Blockchain Name | Persistence |
| Blockchain Code | XPRT |
| Layer | Layer 1 |
| Consensus Mechanism | Proof of Stake |
| EVM Compatible | No |
| EVM Chain ID | |
| Native Coin Code | XPRT |
| Native Coin Name | Persistence |
| Project Link | https://persistence.one/ |
| Whitepaper | https://docs.persistence.one/ |
Persistence is an innovative blockchain platform designed to facilitate the creation and management of next-generation financial products. This blockchain aims to bridge traditional finance (TradFi) and decentralized finance (DeFi) by leveraging the unique advantages of blockchain technology.
Persistence operates using a Proof-of-Stake (PoS) consensus mechanism, which is a more energy-efficient alternative to the Proof-of-Work (PoW) system used by early blockchains like Bitcoin. In PoS, validators are selected to create new blocks and confirm transactions based on the number of tokens they hold and are willing to "stake" as collateral. This mechanism not only reduces the environmental impact of the blockchain but also enhances security and scalability. Persistence's implementation of PoS encourages participation and investment in the network, ensuring a decentralized and robust system.
The Persistence ecosystem is built on a suite of protocols designed to support a wide range of financial services. These include protocols for asset tokenization, exchange, and decentralized finance applications. The asset tokenization protocol enables the creation of digital representations of real-world assets on the blockchain, facilitating their easy and secure transfer. The exchange protocol supports the seamless trading of these digital assets, while the DeFi protocols enable lending, borrowing, and earning interest on digital assets. Together, these protocols form the backbone of the Persistence ecosystem, enabling innovative financial products and services.
Persistence's unique combination of protocols and its consensus mechanism opens up a plethora of use cases, particularly in the realm of DeFi and TradFi convergence. One prominent use case is the tokenization of real-world assets, such as real estate, art, or commodities, making them easily tradable on a global scale. This not only increases liquidity but also democratizes access to investment opportunities. Additionally, Persistence enables the creation of cross-border payment systems that are faster, cheaper, and more transparent than traditional banking systems. Its DeFi protocols also allow users to participate in lending, borrowing, and yield farming activities, providing them with passive income opportunities and financial services without the need for traditional financial intermediaries.