Mitaksi

Mitaksi is a defunct cryptocurrency that was created in 2018 as a Proof-of-Work (PoW) alternative to more widely known cryptocurrencies. The project's primary objective was to introduce a new consensus mechanism, dubbed the "Mitra" algorithm, which aimed to improve the energy efficiency and scalability of blockchain networks.

Mitaksi utilized a custom-built blockchain protocol, allowing for faster transaction processing times compared to other cryptocurrencies. The project's developers claimed that Mitaksi was designed to be more environmentally friendly, as it used a proof-of-work algorithm that required less computational power to secure the network.

Mitaksi's whitepaper, released in 2017, outlined the project's vision to create a blockchain network capable of supporting a large number of users and transactions with minimal latency. The project's development team consisted of anonymous individuals, who chose to remain pseudonymous.

Despite the promising technical aspects of Mitaksi, the project gained limited traction and exposure within the cryptocurrency community. The project's social media channels and online forums showed low levels of activity, suggesting a lack of interest and community engagement.

Mitaksi ceased to exist as a functioning cryptocurrency in 2020, following a prolonged period of inactivity and the lack of security and maintenance updates from the development team.