*This post is a review of a project, and it does not include any investment or financial advice.
Tixl is a European cryptocurrency project, which intends to bring private, instant, and zero-fee transactions to people.
Tixl, the worlds most advanced digital asset. Manufactured in Germany — Tixl provides instant transactions for everyday use.
Source — https://tixl.me/pitch-deck
Today…
None of the cryptocurrencies we know can provide all of the properties mentioned above (privacy, speed, and free of charge).
Plus, in the modern world, where it’s a natural step for our growth as a civilization to move towards cryptocurrencies, we must be more than ever assured that what we do with our money is our own business.
We must be able to send it instantly, and we have to be sure it’s very well secured, so nobody could rob us or cheat us out of it.
And, for sure, we don’t want to pay ridiculously high fees for using money-transferring tools. Which is the case at this point.
Tomorrow…
Tixl is here to fix that.
It’s using the most advanced technologies that have been developed in the last few years and is refining them to elevate the cryptographic technology to a new, much higher level.
For the instant transactions to be possible, Tixl is taking advantage of a directed acyclic graph [DAG] data structure, which simultaneously works with the Stellar Consensus Protocol [SCP].
To make transactions private, Tixl uses zero-knowledge protocols with a commitment scheme. This is a method in which one party [the prover] can prove to another party [the verifier] that they know a value x, without disclosing any information, other than they know what x is.
Plus, stealth addresses and coin shuffling protect both the senders and the receivers of transactions.
On top of that, Tixl has an upgradable quantum secure system, which also assures that the transactions are actually confidential.
So, Tixl is the only cryptocurrency that combines fast, feeless, and private transactions, and truly solves the problems other projects have.
Purpose. Tixl is a new privacy coin that allows instant and zero-fee transactions.
Source — https://tixl.me/pitch-deck
*For in-depth technical information about how all of this works together, you should take a look at Tixl’s whitepaper.
Mining Tixl…
Tixl doesn’t use the traditional mining [proof of work] method. Its solution doesn’t involve any heavy energy-consuming algorithms. It’s pre-minted.
The mining reward is not going to just only one node [who had mined a given block], but instead, Tixl uses a consensus algorithm, which is decentralized between a network of nodes who vote for or against transactions on the blockchain.
Thus, every node gets rewarded for securing the chain and is paid from the total token supply.
A big advantage of the consensus algorithm is that every node is also able to decide which other nodes to trust and which not to trust.
First steps…
Tixl is in its development stage, so for its pre-launch introduction to the world, the team has issued a token [MTXLT].
They are doing token sales through their website, and they are giving some great benefits to those who decide to become their investors.
Token distribution explained in an info-graph.
Source — https://tixl.me/pitch-deck
*How exactly the token sales work you can find on their page.
MTXLT is listed on Binance DEX [BNB pair] and on ProBit exchange [BTC pair] too. So, you can get some tokens from there, but you won’t be able to take advantage of the bonuses.
The total MTXLT supply is 900,000, and there will never be more of them.
The current circulating supply is 44,721 MTXLT.
Follow the data on Coinmarketcap.
*MTXLT stands for 1 MILLION TXLT. And when the actual Tixl blockchain is up and running, we will be able to transform our tokens into coins. That means 1 MTXLT will be 1 000 000 TXL on the actual Tixl chain.
Product…
A huge firs step for everybody interested in the project came on the 19th of December 2019. The Tixl Prototype was released for testing.
However, the current stage of development already goes beyond just a prototype, so they are calling it a “Testnet Release Candidate”.
With this move, Tixl will literally demonstrate that it’s technically possible for the core characteristics we have been talking about [privacy, speed, no-fees] to be combined and used for real money transactions.
To begin the tests, the team will provide us with a web wallet in which we can put some test tokens. We will get them from a telegram bot, and they will not have any real value.
The team…
Tixl is a subsidiary company of the elbstack GmbH, which is a software engineering & design company.
They are based in Hamburg, Germany and the team consists of experienced software engineers, technologists, cryptographers, product designers, entrepreneurs, and marketers.
They have a solid board of advisors too.
You can get familiar with them here — https://tixl.me/team.
Competition…
There are a bunch of “privacy” coins we are all hearing about lately.
They are using different technologies, and have different solutions.
However, all of them have many problems, whether it’s with transaction speed and fees, or with their actual privacy.
Tixl’s team has done a great info-graphic to get us familiar with all of their possible competitors.
Tixl’s competitors showed in a table.
Source — https://tixl.me/pitch-deck
Final words…
Till now, I have seen only one crypto project, which has a team with any experience in the real business world.
Tixl’s has exactly that, plus a bunch of professionals working on every single aspect of the project.
In my opinion, that is the most important part for a team to possess, in order to create a useful, and successful product.
Also, there is one other thing, that I’ve actually never seen before — a cryptocurrency backed by assets.
Tixl is planned to be backed by Bitcoin [BTC], and for every portion of tokens sold in their sell phases, a corresponding share of Bitcoin is deposited into the Tixl Global Reserve.
They have decided to use Bitcoin as their main backing asset because they truly believe in decentralization, and Bitcoin is by nature decentralized. Combined with its public traceability, Bitcoin has excellent attributes to be a transparent way of communicating certainty in the project.
In addition, the team is working on even more ways to create revenue streams, which will also benefit the Tixl Global Reserve, but also the investors.
See their blog on Medium for updates on this awesome project.