Taxa Token (TXT) is a primary cryptocurrency of the Taxa Network. The network provides an upgraded multiple blockchain infrastructure to support the easy creation of interactive Web3 applications. Taxa introduces a tee-enabled network, implying trustless services facilitating the creation of high-performing, privacy-preserving, and developable applications.
As the document on the website mentions, tService is much like smart contracts functioning on public blockchains. Taxa network seeks to provide developers with secure, trustless services. Hence, tService, the core application service running on the network, ensures that the nodes implement correct codes and eliminate all scopes of data tampering. The platform wishes to provide developers with optimum data confidentiality. Hence, the Taxa network utilizes a secure hardware environment to seal the codes and preserve all essential data. The network allows developers to employ a 'Trusted Execution Environment' or TEE to prevent a data privacy breach.
Taxa intends to assist developers in enhancing secure blockchain communication. The network integrates an upgraded Python framework into a hardware-enabled environment while supporting developers with useful 3rd party libraries. Python framework refers to a web module developers use to create applications. Taxa implemenst a request-and-response-based communication protocol known as 'Hello World' to foster the launch of interactive Dapps. The demand for a reliable and privacy-preserving 3rd party platform is high. Smart contracts are primarily designed to provide optimum privacy. However, smart contracts fail to preserve privacy in various use cases like gaming and DeFi. Taxa utilizes a tService Python code to ensure maximum confidentiality. The Taxa network allows users to exchange digital assets in a decentralized finance space without relying on a third party.
The network utilizes trusted computing technology to run applications. This implies that Taxa decreases the expense of implementing business logic in fintech circles, advertising, big data analytics, NFT, AI, and more. The network uses strong analytics and artificial intelligence to secure data and leave no room for data leakage. Taxa encourage developers to innovate and transform ideas into real-time products. For example, the network allows developers to create Dapps for info games like poker and e-sports. The network seeks to launch the alpha mainnet requesting miners globally to participate and contribute computing power.
Taxa employs TXT as the network's official utility token. TXT is primarily an ERC-20 token supporting Ethereum specific smart contracts. The network enables developers to conduct mining of the Taxa tokens. Taxa reward miners for creating new tokens. Besides a standard mining pool, the network reserves TXT tokens in a dynamic mining pool to reward node operators. TXT plays a governance role, allowing the community to extend Taxa improvement proposals and decide on ways to allocate the mining reserve. The crypto-token functions as a universal token powering decentralized applications across multiple blockchains.
