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ColossusXT (COLX) describes itself as a community-oriented, energy-efficient coin with a strong focus on decentralization, privacy, and real-world implementation. It reportedly utilizes an energy efficient Proof of Stake 3.0 protocol and a second-tier Masternode network for inclusive community-based governance along with a blockchain based self-funding treasury system, with a view towards sustainability. In order to reach this level of usability, COLX aims to continually evolve.
The goal of COLX is to be an advanced digital currency that is fast, secure, decentralized, private, and connects all of its users for a greater purpose as part of the Colossus Grid. Colossus Grid is a project that aims to reward individuals for voluntary grid contributions. With this, ColossusXT seeks to compete in the global market for distributed computing power and decentralized storage while riding on the backbone of a privacy blockchain.