Enabling web 2.0 services to listen and react to events on distributed ledgers. TxHash Network allows web 2.0 apps, in a decentralized manner, to track and react on DLT transaction events.
Attention. There is a risk that unverified members are not actually members of the team
Somewhat related competitors, such as Etherscan and Blockseer have large audience and may implement the tools of TxHash. The first app that TxHash aims to develop is an event-tracking analytics solution - TxHash Analytics - which will allow tracking events, accounts, and smart contracts. In this way, TxHash Analytics can become an analog of what Google Analytics does for internet website owners, except on the blockchain. TxHash development started from TxHash Tracker development. This service has been in development since June 2017, when it started as a proof of concept. Then a private alpha was tested before launching the public beta in January 2018. TxHsdh network Test Net is planned for Q1 2019. Mainnet is expected in Q2 2019.
A node operator simply installs the TxHash plugin on a node running a supported client with enabled JSON RPC API. The node then becomes part of the TxHash Network. Nodes in the TxHash Network signal their intention to participate in the network by staking TXN tokens in a smart contract on the Ethereum network. A node then starts monitoring new transactions to the ledger for addresses that match the target of one of its delegated TxHash Tracker instances. TXN tokens are distributed to nodes at a consistent interval from the Node Rewards Reserve.
TxHash soft cap will be $5M, hard cap - $15M. The team aims to sell 40% of the tokens. Therefore the company valuation will be in a range from $12.5M to $37.5M. In our opinion, in case of hitting Hard Cap, the company will be overvalued. We think that the event tracking protocol valuation of $37.5M is too high. For comparison, Blockseer raised $14.5M in March 2018, according to PitchBook. However, Blockseer is a more complex blockchain analytics platform and it offers more analytical tools. There will be 20% of tokens reserved for team and advisors. The team vesting period will be 2 years. It is unclear what kind of a vesting scheme will be used for team bonus. The team will spend 40% of the funds on product development, 25% on marketing, 20% - operations, company reserve - 10%, legal&administrative - 5%. There will be two pre-sale rounds with discount of up to 35%. There will be a lock up of 60 days on the bonus.
Now There are just 3 people working in the team. The whole team size is unclear. Team members are not strong, "all star" experts in software development or cryptography. There are no specialists with deep expertise in blockchain/distributed systems/cryptography.
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