A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Tachyon (TYX), a cryptocurrency designed to complement Ethereum has arrived.
"Named after the hypothetical particle said to be faster than the speed of light, Tachyon aims to be an accessible token for tipping & micro-transactions. With the Ethereum network rapidly growing, Tachyon hopes to be the light-fuel for the future’s informal digital economy."
Now that I have your attention, let’s get right to it.
What exactly is TACHYON?
Tachyon (TYX) is a new token and currency built on the Ethereum blockchain to streamline peer-to-peer micro-transactions with a focus on ease-of-access, fungibility, and everyday usefulness. Aiming to be an accessible ERC-20 token for tipping and micro-transactions, Tachyon is a cryptocurrency designed to compliment Ethereum. With the Ethereum network rapidly growing, Tachyon hopes to be the light-fuel for the future’s informal digital economy.
Again, Tachyon is one of the cryptocurrency digital money which is essentially built using blockchain technology. Tachyon uses this blockchain technology because this technology has the ease of access and this technology also makes it easier for users to conduct peer-to-peer micro transactions, in this case Tachyon focuses on access performance that is very easy, fungibility and everyday uses. Tachyon aims to be one part of ethereum that uses smart contracts based on ERC-20 which will be useful as tipping and running micro transactions, Tachyon can also be regarded as crytocurrency complement ethereum.
Tachyon aims to be one of the leading ETH-based payment forms with a platform that will easily be plugged into existing web pages, Tachyon will be ‘Ethereum’s little brother’ and currency complement.
Why Choose Ethereum?
Ethereum today accounts for the most popular network in the cryptocurrency space, the highest in network activity, and the 2nd largest cryptocurrency by market capitalization. Their positioning in the global market, via their Enterprise Ethereum Alliance, makes them well-poised to dominate many sectors of the global economy in the future, from supply-side logistics to decentralized applications to corporate record-keeping.
They are not skeptics of Ethereum — in fact, they definitely believe in its long-term viability based on our analysis of its current positioning in the industry. However, they understand its limitations and want to improve on Ethereum’s ability to serve as a network for payment rails. The reality is that, currently, Ethereum cannot exist as a currency.
The Tachyon Economy
TYX’s function is best served as a token for tipping and micro-transactions.
No Inflation or Token Burn
Once code is activated, changes to circulating supply are rendered impossible.
All Coins Minted Upon Activation
We will be airdropping 60% of our token supply over a few successive airdrops. Each token will be divisible by 18 decimal places.
Fair Airdrop Token Parameter
The wide spread of our token distribution means that our airdrop will be fairly placed in as many hands as possible to maximize its use-case.
The Features of Tachyon
Tachyon (TYX) is an ERC-20 token built for the Ethereum network created to facilitate tipping and microtransactions. An ERC-20 token standard allows for the transfer of value between two parties on the Ethereum network. Its code is purposefully barebones, using less data to maximize transaction speeds on the network. What sets Tachyon apart from other projects is that it is exclusively a digital currency with an improved strategy of adoption.
TYX aims to be the de facto tipping and micro-transactional token on the Ethereum network. As such, it strives to not only be in as many wallets as possible, but being a currency, it must also be on as many exchanges as possible to ensure liquidity. All the features of Tachyon, including its marketing, will work towards widespread accessibility and adoption — this means that, yes, we plan to be very active on social media with our community! We want involvement.
Fair Distribution Token Parameter
The wide spread of our token distribution means that our distribution will be fairly placed in as many hands as possible to maximize its use-case. A parameter is built with the ERC-20 standard to integrate the non-ICO distribution model with Tachyon.
The fungibility of Tachyon is one of our highest priorities so that it can exist as a usable currency. Near-instant conversions to ETH and fiat, ample exchange listings, payment plugins, and a sleek light wallet for transfers are all on the long-term agenda for the Tachyon project.
In April of 2018, a BatchOverflow Exploit was found on many Ethereum tokens which caused some exchanges to temporarily halt all ERC-20 token deposits. The exploit allowed individuals to mint additional tokens which effectively ruined the supply. Although this exploit was fixed, Tachyon will make sure that, unlike some crypto projects, the code for TYX is bug-proof and rigorously tested come TestNet. The code is also light to ensure the fastest transaction speeds on ETH.
Tachyon’s goal is to be an umbrella cryptocurrency for a host of tipping widgets and payment processors that can be easily integrated into existing sites, chatrooms, forums, and small marketplaces. Our light wallet for both desktop and especially mobile will work towards these ends. The widgets, wallets, and other interfaces for TYX will be easily integrated into existing digital infrastructure. We want the internet to be powered by the light-fuel that is Tachyon.
A tipping token that rests on use-case and social media exposure must have a memorable name and brand. Tachyon has both of these working to its benefit.
The Tachyon Network
Starting as an ERC-20 token, Tachyon will migrate to its own MainNet blockchain network in 2019/2020. Although it will remain complimentary to Ethereum, this future MainNet will link all the integrated built-in tipping widgets, micro-payment processors, forum plugins, and so on into an overall Tachyon network. Please expect more information on the Tachyon MainNet network when we publish our technical MainNet paper in Q1 2019, as per the roadmap.
Why They Chose Not To Do ICO?
The reasoning is simple. They considered having a token sale, but would that really work with the mission of Tachyon? A few private investors having the majority of TYX, rendering them with little use-case? They didn’t think so. Tachyon is a token for tipping and micro-transactions; it’s not a platform that requires constant investors to fund it. Therefore, the main purpose of an ICO model — to raise speculative venture capital from investors — seemed completely unrelated to Tachyon’s goals and it would have been disingenuous for them to say otherwise.
Instead of having the public ‘trust’ them with an ICO model, they would rather put their trust in the public and the community: they’re distributing TYX tokens, and they will thereafter gain in value as the Tachyon project grows and improves. Thus, the valuation of TYX will be based on real supply and demand, rather than by a purely speculative ICO which is based on future expectations. In short, these airdrops will reward the early adopters of Tachyon and ensure that Tachyon tokens are not concentrated in a small amount of hands.
The distribution model is still new, but it ensures a much fairer distribution on many levels than an ICO. They’re of the opinion that ICOs, as they existed on ETH within the past year and a half or so, are long-gone in their usefulness and most of them are just flagrant cash grabs. The community deserves better.
At the time of writing this, the first complimentary early-bird Tachyon airdrop was completed on September 28th, 2018. Congrats to the early TYX holders!
Tachyon distribution as follows
A total of 60% of the entire circulating supply (299,792,459 TYX) will be distributed in a series of campaigns, tasks, promotions, bounties, and the like. We will also be unveiling our own TYX faucet where you can earn TYX based on a reward system.
5% of the total circulating supply will be used for liquidity on exchanges.
15% of the total circulating supply will be initially locked, but will eventually be used to partly fund marketing and development.
The remaining 20% of TYX tokens will be frozen by the Tachyon team and locked away for reserve.
NB: The entirety of Tachyon’s circulating supply will be distributed through successive campaigns.
With an early, free, and fair distribution at the beginning of its creation, TYX’s goal is to be the easiest-to-use and the most fungible token on the Ethereum blockchain.
Q3 2018 —Begin Phase I
Genesis block! Mint 299,792,459 TYX
Conduct preliminary airdrop to those interested early
Establish all social media channels and their design
Be listed for early trading on decentralized exchanges
Completion of all Tachyon distribution campaigns until 60% of the total supply is circulating
Coordinate community rewards and events - Reward-based system for promoting and using TYX will be rolled out. - Tentative TYX faucet release.
Prototypes for Tachyon plugins and interface(s) for tipping to be released
Continue exchange listings beyond DEXs
Begin development of light desktop wallet for both ETH and TYX
Establish the community-led Tachyon Developers’ Initiative - A community intended for the developers, designers, and translators associated with Tachyon.
Deploy Tachyon wallet for desktop (MacOS and Windows)
Deploy the first Tachyon web plugins - Embedded tipping plugins for WordPress blogs planned for release - HTML helpers and Java applets for Tachyon micro-payments
Publish expanded technical paper on Tachyon’s MainNet
Q2 – Q3 2019
Deploy light mobile wallet (iOS and Android)
Add anonymous functionality to Tachyon wallet - An address scrambler and mixer - Integrate anonymity option into existing wallets
Release the Tachyon Micro-tasking Platform - Stream of micro-tasks posted by users with TYX payouts for complete tasks
Release Tachyon TestNet 1.0! - Bug-tweaking and network expansion with each successive TestNet version
After Q3 2019, Onwards - Begin Phase II
Tachyon MainNet release! - Token swap from ERC20 token to TYX MainNet at 1:1 ratio - Tachyon block explorer
Publish roadmap for Phase II of Tachyon’s development - Planned: Mobile app with instant transfers between TYX-to-ETH - Tentative on how Tachyon develops - Community suggestions will guide us along the way.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Telegram Chat: https://t.me/TachyonTYX
Telegram Announcements: https://t.me/TachyonToken
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.