The Tokenize Xchange native emblem, TKX, started its Initial Coin Offering (ICO) in 2017, with a maximum total supply of 80,000,000 TKX, built on the Ethereum source code. TKX runs on the ETH blockchain and has numerous utilities such as trading discounts, staking yields, IEO launchpad, NFT marketplace, etc.
As the number of users and transactions continued to grow exponentially, there was a need to develop our own blockchain - one that would properly develop a protocol that is compatible with each jurisdiction’s governance and regulation, and yet be harmonious with our existing business.
To provide a scalable and customizable solution for Tokenize Xchange, the Titan Blockchain (Titan) was developed. Titan aims to become a revolutionary EVM compatible L2 that focuses on being regulatory compliant and having licensed partners as validators.
What is Titan?
Titan is a next-generation, EVM-compatible blockchain built on the Cosmos SDK, designed to offer a secure, decentralized, and scalable platform for smart contracts, decentralized applications (dApps), and digital assets. By leveraging the interoperability and modularity of the Cosmos ecosystem, Titan aims to bring the benefits of Ethereum's smart contract functionality to a wider audience while addressing the limitations of existing blockchain platforms, such as scalability, energy consumption, and high transaction fees.
For more information on Titan and its use cases, read more HERE.
As a TKX ERC-20 (Old) holder, what should I expect when Titan Chain goes live?
Why should I be a Titan Validator?
A validator is a node that participates in the consensus process of a blockchain network. Validators are responsible for verifying transactions and adding them to the blockchain. They play a critical role in maintaining the security and integrity of the network. Validators are rewarded with tokens for their work, which can be used to participate in the network or sold on the open market.
In Titan Chain, validators or stakers are selected to validate transactions and create new blocks based on the amount of TKX they have staked. Validators receive rewards in the form of additional TKX for their efforts. As a Titan Validator, get rewarded with up to 9% APY for maintaining the high level of uptime and contribution to the development and growth of the network.
Support the network
By becoming a validator, you are contributing to the network's success and growth. Validators help to maintain the integrity of the network by preventing malicious actors from corrupting the system. By supporting the network, you are helping to build a more decentralized and secure future.
Titan Chain allows a large number of participants to become validators which increases the decentralisation of the network. This will enhance sybil resistance where an attacker tries to gain control over the consensus mechanism as it will not be economically feasible. Validators who engage in malicious behavior, such as double-spending or creating invalid blocks, can be punished or penalized by losing their staked TKX. This provides an additional incentive for validators to act honestly and maintain the security and integrity of the network.
Unlike Proof of Work (PoW) consensus mechanism, which requires miners to solve complex mathematical problems using computational resources, PoS requires validators to stake a certain amount of cryptocurrency to participate in block validation. This means that PoS networks consume significantly less energy, making them more environmentally friendly.
Is TKX staking already live?
Yes, Titan has been live since 6th May 2023. You may refer HERE for more information.
When can I withdraw my staked TKX?
The withdrawal date and time will be announced after the Titan mainnet migration.
How can I become a Titan Validator?
To become a Titan Validator, you will need to stake 2,048 TKX for each node to run.
Select the number of Titan Chain nodes to run by clicking on the orange arrows and thereafter, click on "Stake Now".
Click HERE to become a Titan Validator now.