During the last decade, the emerging cryptocurrencies sought to influence, change, and improve countless industries, and their use cases increased even more with the attention shifting towards blockchain technology. Numerous applications got their dApp versions, while new solutions to previously unsolvable problems started to come out, as well.
The fact that these technologies became and remained a hot topic for years now shows a huge amount of potential, as well as the growing interest in them. These days, cryptocurrencies are discussed on numerous social networks. Presently, they are most well-established on platforms like Reddit and Twitter, as well as various forums such as BitcoinTalk.
However, they also started growing significantly on chat apps and similar places, including Telegram and Discord. Even so, there are some who believe that cryptocurrencies should have their own chat app — one that was developed on the blockchain, and designed to work with coins and to be all about coins and blockchain tech.
With so many social networks and chat apps around, developers could easily learn from other projects' mistakes and adopt good features that have since become liked by the communities. This is something that Texochat aims to achieve.
Texochat is a multi-usage chat application that is being developed on blockchain technology. As mentioned, the project has taken the opportunity to create something new and advanced by taking advantage of blockchain technology. It wishes to create an application where anyone and everyone could easily fulfill their need to use cryptocurrencies.
Texochat also has a goal of becoming the ultimate chat app, and it plans to do this by including as many popular features as they can, placing them all into a single app. The project is well aware of the strong competition, especially when it comes to Discord and Telegram. However, they are also aware that these applications do lack in certain areas.
This has caused them to believe that the crypto community might be willing to turn to a new solution, provided that the solution offers the desired features that are absent from other popular applications. And, thanks to the fact that it is based on blockchain technology — Texochat is likely to include distinguishable and advanced features that will allow it to stand out from the rest.
The project's development continues quickly, and all that it needs now is its own native token, which the community will be able to use, and which will power its platform.
As mentioned, Texochat has yet to hold its ICO. In fact, the project is entering its preICO stage in around 12 days, on October 15th. The preICO period will last for about two weeks, ending on October 30th. After that, the ICO will take place on November 10th, and end a month later, on December 10th.
The project's token is known as TXO, and it is a utility token, developed on Ethereum's platform. Its preICO and ICO prices have already been established, with the preICO price being at $0.008 per 1 TXO, and the ICO price being $0.01.
The project will sell its tokens in exchange for Bitcoin and Ethereum, with the minimum investment being $30. They also announced a soft cap of $1 million, and a hard cap of $8 million. The project also offers an MVP and a bounty. It was registered in India, and it doesn't have a list of restricted areas. However, it also doesn't require the investors to go through KYC or Whitelist procedures, which might be suspicious to some investors.
| Start | November 10, 2019 |
|---|---|
| End | December 10, 2019 |
| 22 days left |
I can see that plenty of people are skeptical about Texochat because of its supposed competition with the tech giants. But they all should remember a tale about David and Goliath, where a small and seemingly weak man defeated a giant. The same could happen to Texochat, just look at the success of Slack. Sure, Texochat won't have a global reach of big corporations, but it can easily form a sizable pool of loyal users. Therefore, Texochat should be afforded a chance to enter the market.
Forgive my skepticism, but I don't see how Texochat would be able to compete with the industry behemoths like Telegram and Facebook. But I do know the advantage that these two have over this emerging project, and it is the already existing massive pool of active users, who will migrate to the corporations' new crypto solution in an instant. I don't see how Texochat would be able to overcome this factor. Sure, they can make all efforts to gather as many users as possible before the official launch of the mentioned competitors, but I highly doubt that it would ever be enough.
I reckon that Texochat couldn't have chosen the worst time for the launch of their crypto-powered chat. 2019/2020 would be the period when social media and messaging powerhouses, Facebook and Telegram, introduce their respective cryptocurrencies - Libra and GRAM - which should send the small-time competitors, Texochat, for instance, into oblivion. Besides, Facebook wants to have a pilot launch of Libra in India, and Texochat evidently has been designated for the same market.
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