Digital asset platform Tokenize Xchange, together with its affiliate, Web3 specialist Titan Lab, unveiled the Titan Chain at the Token2049 event in Dubai, according to a Business News Asia report.
This new blockchain network, also referred to as the TKX Mainnet, marks a major leap forward for Tokenize Xchange’s ecosystem and positions it as a leader in the digital currency market.
Developed using the Cosmos SDK, the Titan Chain is designed to ensure full compatibility with the Ethereum Virtual Machine (EVM) and offers seamless interoperability with the Ethereum network.
The creation of the Titan Chain addresses critical challenges such as high transaction fees, scalability limitations, and restricted interoperability that are prevalent on the Ethereum network.
With these enhancements, the Titan Chain is poised to transform the blockchain landscape significantly.
Concurrent with the launch of the Titan Chain, Tokenize Xchange has also introduced the Titan Lab Grant, a robust funding initiative providing US$100 million in TKX tokens.
This grant aims to spur innovation and development on the Titan Chain, inviting developers worldwide to deploy their projects on this advanced platform.
It also encourages existing projects to transition to the Titan Chain, promising a more efficient, scalable, and interoperable blockchain ecosystem.
From April 19, TKX, the native token of Tokenize Xchange and previously an ERC-20 token on the Ethereum blockchain, will migrate to the Titan Chain.
This transition enhances TKX’s utility, making it the primary medium for gas fees within the Titan Chain ecosystem.
The architecture of the Titan Chain, leveraging the strengths of the Cosmos SDK and EVM compatibility, offers numerous benefits over traditional blockchain networks.
These include reduced transaction costs, enhanced scalability, improved energy efficiency, and a customizable, developer-friendly environment.
This strategic initiative aims to minimize dependency on network-wide alterations, facilitate easier upgrades, and cultivate a vibrant developer community, thereby benefiting both developers and users.
Tokenize Xchange, headquartered in Singapore with branches in key Asian markets, is a leading digital asset exchange platform known for its secure, user-friendly trading environment for a diverse range of cryptocurrencies.
Titan Lab, a sister company, remains at the cutting edge of Web3 innovation, focusing on bridging the gap between traditional financial systems and the new digital finance era.
