Tixl (Tixl) Review

Tixl: Privacy, Speed, and Zero Fees 


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.  

Offered solution and business model


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.    

Technology solution behind Tixl


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.


Team members

  • Christian Eichinger. Managing director & Software Engineer. A coder by vocation, proficient in AngularJS and JavaScript. He is one of the founders of the mentioned Elbstack company.
  • Sebastian Gronewold. Managing partner. Another professional software engineer who has vast experience in blockchain development. He is also one of the key figures in Elbstack.

Roadmap implementation


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.

ICO details


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.

Author: Alex Paulson for Crypto-Rating.com

  • What is the currency shortcode of Tixl? The currency shortcode of Tixl is TXL. As Tixl is currently under development, we distribute no real TXL but instead Tixl Tokens [TXLT] on the Binance Chain during the token sale. As the currency symbol for exchanges, we use MTXLT whereby 1 MTXLT = 1,000,000 TXLT.
  • How many TXL will exist? 900,000 MTXLT (900 billion TXLT) will be created and later token-swapped 1:1 to 900,000 MTXL (900 billion TXL). There will never be more than this supply.
  • What is the current implementation status of Tixl? We spent a lot of time on developing a cryptographic concept that makes the main features of Tixl technically possible. As the next step, we are currently implementing a fully functional prototype of the Tixl ledger.
  • Is there any roadmap? Even though we are developing Tixl agile and iteratively, you will find a roadmap in our whitepaper.
  • Why is Tixl created? Even though the idea of blockchain and decentralization generally makes sense for different business cases, we see the highest potential in the area of currencies. Due to the technical implementation of existing solutions, no cryptocurrency has yet been able to fulfill the mandatory requirements of privacy, zero-fee transactions and high transaction speed in a sufficiently collaborative manner. We want to change that!
  • How do you profit from the project? We as the founders will own 5% of the overall Tixl currency supply and are thus interested in long-term performance. To ensure long-term motivation, we have a vesting period of 24 months and can only sell small packages of our holdings each month afterward.
  • How does Tixl achieve instant transactions? Essentially, Tixl achieves instant transactions by using a special data structure called Directed Acyclic Graph (DAG). Senders and receivers can write transactions on their blockchains without having to wait for other transactions on the network. However, it should be noted that the recipient must be online if a transaction is to be written to the recipient's blockchain immediately after submission. And of course, direct acceptance of a transaction only makes sense if you can trust the sender. In other cases you must wait for the decentralized consensus algorithm to validate incoming transactions, this might take a few seconds.
Pre-Ico Start dateApril 15, 2019
Pre-Ico End dateJune 17, 2019
IndustryFinance
PlatformSeparate blockchain
Founded2019
Websitehttps://tixl.me/
WhitepaperYes
CountriesGermany
  • Christian Eichinger. Managing Director
  • Sebastian Gronewold. Managing Director
  • Mike Lohmann. Technology Consultant
  • Bernd Strehl. Software Engineer
  • Vihren Stoev. Cryptographer
  • Lennart Brandt. UX and Digital Product Designer
  • Christopher Obereder. Chief Marketing Officer
  • Leon Szeli. Chief Evangelist
  • Q2 2019. First ICO phase - Internal ledger prototype release - External whitepaper audit & result incorporation - Kickoff consensus algorithm development - Kickoff API gateway development - Pitch at ANON Blockchain Summit Austria - Pitch at Bankingclub Cologne, Germany - Release of the first press article - Listings on ICO websites - Creation of VC compatible pitch deck, dispatch to at least 100 VCs - Approaches to at least 100 private investors and business angels
  • Q3 2019. Second ICO Phase - Internal consensus prototype release - Internal API gateway prototype release - Kickoff Tixl web wallet development - Attendance on at least one conference as a speaker or for a pitch - Release of three more press articles - Creation of detailed paper about Tixl’s technology stack - Depending on Q2 approaches to more potential investors - Transfer of the ledger prototype to a production-ready version.
  • Q4 2019. Third ICO phase - Security audit of the Tixl ledger by external experts - Transfer of the consensus algorithm prototype to a production-ready version - Transfer of the API gateway to a production-ready version - Attendance on at least one conference as a speaker or for a pitch - Beta test of the full Tixl software stack (ledger, consensus, API gateway, web wallet) - List MTXLT on at least one regulated exchange - Approaches to potential advisors from the industry - Approaches to potential business partners for Tixl as a payment method, this includes payment providers, exchanges and banks - Improvement of the Tixl web wallet - Start of first marketing bounty campaigns where MTXLT are used as compensation.
  • Q1 2020. Fourth ICO phase - Stress test of Tixl’s software stack in a private network - Another security audit, this time of the full Tixl software stack - Focus on deals with business partners approached in Q4 2019 - Bug fixes and performance improvements for all of Tixl’s software parts - Assembly of an advisory board with people approached in Q4 2019.
  • Q2 2020. Fifth and last ICO phase - Announcement of the token swap date - Stress test of Tixl’s software stack in an open beta - Start of first development bounty campaigns where MTXLT are used as compensation for programming software parts like e.g. desktop wallets.
  • Q3-Q4 2020. Execution of Tixl’s token swap - Tixl network launch - Support of business partners integrating Tixl in their infrastructure - Start to decentralize Tixl by slowly adding the first external nodes to the consensus algorithm.
  • 2021. Tixl is now within the top 5 of all privacy coins in terms of market cap and trading volume - Tixl is listed on different major exchanges and integrated into well-known payment providers.
  • 2022. Tixl is now within the top 2 of all privacy coins in terms of market cap and trading volume.
Tixl
StartJuly 17, 2019
EndSeptember 30, 2019
Expired
TokenMTXLT
Minimum investment100 USD
Tokens for sale45000
AcceptingBTC, 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.

mangust   August 28, 2019  

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.

Barbara   August 5, 2019  

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