TxHash

TxHash is entering the market of Blockchain platforms analytics tools. TxHash aims to create a protocol that will allow getting notifications about blockchain transactions into social networks or email. Currently, this tool has not yet been implemented in any of the main blockchains Thus TxHash now does not have direct competitors. However, there are in some way similar projects already operating on the market, such as EtherScan and Blockseer. These somewhat related competitors, such as Etherscan and Blockseer have a large audience and may implement the tools of TxHash. TxHash also aims to create incentives for Full Nodes operation. Currently, the costs of a full node operation are extremely high.

TxHash.com is a blockchain as a service (BaaS) that allows users to create rules that track and act on transaction-based distributed ledger events. There are two basic components of TxHash: firstly, the TxHash Tracker (the core BaaS of the project), and secondly, the TxHash Network (the yet-to-be-realized fully decentralized network). The TxHash service already functions in a centralized proof of concept, and the upcoming Token Generation Event (TGE) seeks to implement the TxHash Network. The existing application is a set of microservices written in Node.JS and allows users to monitor distributed ledger events that meet particular conditions and to perform a corresponding action when the event-conditions pair is triggered. The long-term goal of TxHash is to create a cross-chain, decentralized network that web developers can tap into to integrate Web 2.0 services. 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.

The founder of TxHash - Diego Araos - has long tech entrepreneurship experience and previously founded several projects in AR, IoT and related fields. He preivously worked as a Full-stack developer at several mid-size companies. He holds a degree in Industrial Engineering. Ernane Luis holds BS and MS in computer science and previosuly worked as a front-end developer and has experience in iOS development. He has been working at StarbaseCo since March 2017 as a front-end developer. According to his Linkedin, he is still employed at StarbaseCo. The third team member - Norbert Ritter - holds a bachelor's in Industrial Engineering and Masters in Business Management. Prior to joining TxHash, he has been working as a software developer at GetSmarter - an educational platform. According to the company's website, there are only 3 people working on TxHash development. The team did not respond on telegram about the whole team size and the team expansion plans. Overall, the team does not have "star" developers and is very average.