Tixl – ICO Detailed Information

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

• 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.