Titanium is a JavaScript-based platform for building desktop and mobile applications using one code base. It allows developers to program in JavaScript and compile applications to different platforms like iOS and Android. Some benefits of Titanium include prototyping apps quickly, good support for web services integration, and an active developer community. However, it is not recommended for game development and some UI elements may not be as responsive as native controls. The ecosystem around Titanium is growing with more meetups and resources becoming available.