TitanX is a digital currency that operates on a decentralized blockchain network, offering fast transaction speeds, low fees, and enhanced privacy measures. It aims to reduce supply, add programmatic buy pressure through smart contracts, and drive demand through various game theory mechanics.
TitanX is built on the Cosmos SDK, providing a modular framework for creating blockchain applications. The blockchain is EVM-compatible and employs the Tendermint Core Consensus Engine for high performance and Byzantine Fault Tolerance. TitanX utilises smart contracts for functions including buy-and-burn strategies and liquidity provision. The project's 'Proof of Burn 2.0' mechanism allows developers to use TITANX to launch their own tokens, permanently removing TITANX from circulation.
Potential use cases for TitanX include addressing key issues within the DeFi space through its unique 'Pumpamentals' approach. This includes staking, reducing token supply, and leveraging smart contracts for secure DeFi applications such as exchanges, lending platforms, and remittances. Additionally, its virtual mining and token destruction mechanisms can provide innovative solutions within the ecosystem.
TitanX was founded by Jake Sharpe, an influencer who created the project to address issues in other projects and foster a strong community. The cryptocurrency has reached significant milestones, including being in the top 20 Ethereum tokens for an extended period and integrating with DragonX for a positive tokenomics flywheel. TitanX has evolved by introducing virtual mining and the Proof of Burn 2.0 mechanism, fostering a strong market presence and community support.