Tixl (Tixl) Review

Tixl: Privacy, Speed, and Zero Fees 

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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

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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

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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.

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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

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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

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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

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• 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.