Digital asset platform Tokenize Xchange, in collaboration with its partner Web3 expert Titan Lab, has introduced the Titan Chain at the Token2049 event in Dubai, as reported by Business News Asia.
The Titan Chain, also known as the TKX Mainnet, represents a significant advancement for Tokenize Xchange’s ecosystem, establishing the platform as a frontrunner in the digital currency sector.
Built utilizing the Cosmos SDK, the Titan Chain is structured to ensure seamless compatibility with the Ethereum Virtual Machine (EVM) and offers effortless interoperability with the Ethereum network.
The development of the Titan Chain tackles key issues such as exorbitant transaction fees, limitations in scalability, and constrained interoperability commonly encountered on the Ethereum network.
These improvements position the Titan Chain to revolutionize the blockchain industry significantly.
In conjunction with the Titan Chain launch, Tokenize Xchange has unveiled the Titan Lab Grant, a substantial funding program allocating US$100 million in TKX tokens.
This grant is designed to stimulate innovation and progress on the Titan Chain, inviting global developers to deploy their initiatives on this advanced platform.
Moreover, it incentivizes existing projects to migrate to the Titan Chain, ensuring a more effective, scalable, and interoperable blockchain ecosystem.
Starting from April 19, TKX, the native token of Tokenize Xchange formerly operating as an ERC-20 token on the Ethereum blockchain, will transition to the Titan Chain.
This migration enhances the utility of TKX, establishing it as the primary medium for gas fees within the Titan Chain ecosystem.
The architecture of the Titan Chain, harnessing the capabilities of the Cosmos SDK and EVM compatibility, offers numerous advantages compared to conventional blockchain networks.
These benefits encompass reduced transaction expenses, enhanced scalability, increased energy efficiency, and a customizable, developer-centric environment.
This strategic move aims to reduce reliance on network-wide modifications, streamline upgrades, and foster a dynamic developer community, thereby benefiting developers and users alike.
Tokenize Xchange, headquartered in Singapore with branches across key Asian markets, is a prominent digital asset exchange platform recognized for its secure and user-friendly trading environment for various cryptocurrencies.
Titan Lab, an affiliated entity, remains at the forefront of Web3 innovation, concentrating on bridging the divide between traditional financial systems and the emerging digital finance landscape.