Titus Coin (TTS) is a digital currency with instant transactions. It is based on Bitcoin, but it has a double-tier network to improve it. Titus is similar to real cash because it allows you to remain anonymous while you make transactions. Titus achieves this with a mixing protocol and a decentralized network called TitanNodes. We will eventually release a complete whitepaper on the Titus Coin system. All Bitcoin and other Open Source parts are free to download at our GitHub repo but Titus Invest has some closed source parts.
Titus Coin uses a modified version of Bitcoin Core client for Windows and Mac.
Advantages with Titus Coin:
Bitcoin is not the slowest payment system in the world (it’s actually kind of fast compared to bank transfers), but it takes some time to confirm transaction with their system. On average it takes around 10 minutes to confirm a transaction. Some merchants want to have the transaction confirmed several times (to be sure that the transfer has been done), and this might take up to 40-70 minutes. This can be ok for some operation, but nearly impossible for instore purchases and ATM withdrawals. Titus Coin uses the technology we call Instant, using our TitanNodes network to speed up the confirmation of the transaction.
Even though all addresses are just a string of characters, over some time vendors and other services may attach that address to the personal information.
Titus Coin has a system called Incogsend that with the help of the TitanNodes and a Mixing protocol makes the transactions truly private, just like real cash!
TitanNodes is a decentralized network that is always on. It is controlled by Titus Invest and the users that want to deposit 5000 TTS. TitanNodes’ advantage is that transactions are almost instant. Plus, they can be used with our Incogsend system – which means complete privacy.
TitanNodes takes transaction fee (currently 0.0008%) to make the transaction. Titus Coins use a double-tier network so the ordinary nodes must sync its ledger from TitanNodes. This helps us to confirm (and keep secure) the transfers almost instantly.
X11 is a chained algorithm that uses 11 different algorithms which are chained together. These algorithms are: blake, bmw, echo, groestl, jh, keccak, skein, luffa, cubehash, shavite, and simd.
It is ASIC-resistant and is suitable for CPU and GPU mining.
X11 was developed to solve significant drawbacks associated with previously used algorithms: SHA-256 (used in Bitcoin) or Scrypt (used in Litecoin, Dogecoin). The worst drawbacks was the fact that companies developed hardware (ASICs) for mining coins that used the SHA-256 and Scrypt algorithms. This made the networks more centralized, since now a small group of powerful miners controlled a lot – and this was against the original vision for the cryptocurrency.
The use of 11 different algorithms also increases the security of coins using this method against brute force attacks. Brute force attacks against coins like Bitcoin is not currently possible, but may conceivably be possible at some point in the future.
Comparison: Bitcoin vs Titus Coin