The German fintech community is making itself heard more and more lately as it delivers blockchain solutions capable of kindling interest due to their usefulness and technological prowess. The startup under the review is called Tixl, registered as a non-profit organization in Hamburg, Germany, with the registry number present on the official website.
It is the brainchild of a group of German software engineers, each of whom has over ten years of experience under their belts. The very same group has already established one company called Elbstack, a software agency that also offers blockchain development services.
To push the development of Tixl further, the startup initiated a sale of MTXLT tokens, which comply with BEP2 standard (Binance Chain) and serve as vouchers which can be swapped for the actual Tixl token later on.
The chief product offered by Tixl is the allegedly unique cryptocurrency that combines the three most important characteristics of the cryptographic digital assets: total privacy, high-velocity transactions, and the absence of fees. Indeed, there are many cryptocurrencies which simultaneously possess one or two or these feats, but not three, which surely signifies the uniqueness of this solution, which ultimately improves its investment attractiveness.
The founders admit that they hadn’t elaborated any particular business model. Instead, they decided to keep the 5% of the total supply of 900,000 Tixl, and derive profits from the price increase of this cryptocurrency.
The Tixl team didn’t try to invent the wheel and come up with a completely new solution. Instead, they have opted for the good old fashioned combination of the best and most efficient features of other cryptocurrencies. For instance, Tixl uses the Stellar Consensus Protocol (SCP) to achieve consensus between the nodes and relieve the users for the necessity of mining, and the Directed Acyclic Graph (DAG), which is inherent to Nano, to form the network’s data structure. These components allows for the private, instantaneous, and costless transaction within the system. They also employ the NTRU encryption algorithm, a good alternative to RSA and ECC, to ensure that the network would be capable of resisting the quantum computers.
Tixl presents a very extensive and detailed roadmap, which describes virtually every step that the startup intends to take. The Q3 of 2019 will see the second round of fundraising, followed by the third and the fourth every next quarter, and the commencement of web wallet development. There will be a security audit of the Tixl ledger in Q4, accompanied by the launch of the beta version of the platform.
The second phase of token sale, which provides for the limited 29% bonus, will run until September 30. At this stage, the price of 1 MTXLT is $50, with the minimum investment threshold established at $100. During this phase, the team aims for the hardcap of 45,000 MTXLT. Tixl accepts BTC, ETH, XRP, XLM, and EUR. All investors must be whitelisted first. Citizens of the United States, China, India, North Korea, and a number of other countries can’t participate in the sale event.
|Start||July 17, 2019|
|End||September 30, 2019|
|Minimum investment||100 USD|
|Tokens for sale||45000|
|Accepting||BTC, ETH, XRP, XLM, EUR|
Even if MTXLT token could prove itself to be a prominent cryptocurrency in terms of transaction speed and cost as well as resistance to the fabled quantum superiority, it still won't be able to push the good old Bitcoin from its throne. We presently see an abundance of cryptocurrencies which are fundamentally superior, though it doesn't impede the gradual increase of Bitcoin dominance. It looks like Tixl might just create a coin that's doomed to become the hundredth shadow of Bitcoin.
Finally we see the crypto startup that has everything working for them. The experience is there, the tech solution is solid, the team is competent, and the audience displays interest. As far as I understood, Tixl has already raised more than $2 million in pre-sale alone, which is a confidence booster. Not sure why they opted for that “voucher” model instead of offering tokens straight away, but I guess they had reasons. In any case, Tixl is a startup worth consideration.
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