MIXIN – A Free and Lightning Fast P2P Transactional Network for Digital Assets


Mixin Network is a powerful blockchain chain, the purpose of which is the systematic increase in the speed of sending cryptocurrency avts between the wallets of their owners. In order to show the power of its blockchain network, the developers of the Mixin project developed their own Messenger. Initially, it has more than 40 cryptocurrency wallets built in, which you can recharge easily.


Mixin Messenger overview

Access to the wallet is possible by entering 6 digits. 6 digits are very important not to lose, it is the only option to enter all your wallets in the Mixin Messenger application. You can find the Mixin Messenger application in the Play Market or the apple store. The size of the Mixin Messenger application is no more than 12 MB. It is enough no more than 14 minutes to download, install and configure the application Mixin. Due to this application, it is possible to write messages to your friends or to each person who also has the Mixin application on their smartphone. All messages are supplied with a secret cipher. Even the most creative hackers will not be able to get it. The main advantage of owning wallets in the Mixin Messenger application is obvious: when sending a crypt, you never need to go to the wallet portal and enter a long password, the digital code in the Mixin Messenger application perfectly replaces it. Another advantage is the high speed of transmission and receipt of cryptocurrency avts to addresses in Mixin Messenger. All shipments take a few seconds.


Mixin Kernel

The Kernel is a core component of the Mixin network. It uses a directed acyclic graph design to scale digital asset transactions.

A directed acyclic graph (or DAG) is a structure consisting of nodes that are connected to each other in a non-linear pattern. With DAG’s, information is dispersed using a ‘gossip protocol’ across multiple nodes simultaneously, allowing consensus on transactions to be achieved faster.


Consensus Protocol

The Mixin Kernel distributed ledger uses a proof of stake consensus protocol. Kernel Nodes stake at least 10,000 XIN as collateral in exchange for the ability to validate transactions on the Kernel distributed ledger.

Each Mixin Kernel Node represents 10,000 XIN, which is approximate 2% of the network stake. The Kernel can only operate with at least 7 nodes joined, which is about 15% of the whole networks stake.

Privacy

For privacy, Mixin kernel uses a 1-time key generation algorithm, which allows the system to generate a ‘ghost address’ that can be discarded after each transaction a user makes.

Mixin Domain

The Mixin domain communicates with the kernel via system calls.

In order for an external asset (from the Bitcoin blockchain for example) to become associated with the Mixin kernel, a Mixin public key is first produced to connect with the domain, and then an asset specific public key (i.e a Bitcoin public key) is produced to connect the asset to the Mixin Kernel. If someone wants to send funds from their Bitcoin wallet to the Mixin network, the domain will create a transaction to the Mixin public key, and the Mixin kernel will verify the transaction.

Mixin Domain Extension

The Mixin domain extensions enable users to setup ‘smart contracts’ from a single computational unit (i.e your laptop or iPhone). These smart contracts are higher performing and more robust than those currently offered on the Ethereum blockchain.

XIN - The Token

XIN is the sole token used by many services in Mixin, including full node collateral, DApp creation and API calls. To join the network as a full node, one must pledge at least 10,000 XIN token to establish initial trust.

Every new act of DApp creation will have a one-time cost in XIN, the amount of which is determined by the resources the DApp claims to consume. The Mixin API calls from DApps may cost some XIN well, depending on the call type and count.

All XIN penalties and fees charged by the network will be recycled to the mining pool. 1,000,000 permanent total XIN token is issued to the world at one time, and 400,000 of them have been successfully distributed to holders from 25/11/2017 to 25/12/2017 with rate 20 EOS/XIN.

50,000 XIN have been distributed to early Mixin Messenger adopters. 50,000 XIN are reserved for the development team. The remaining 500,000 XIN will be the incentives for all Mixin full nodes and light nodes.

Economic Conference held by COINJINJA in Tokyo, Japan On September 15, Cedric Fung, founder and CEO of Mixin Network.

The summit aims to strengthen the exchange of global blockchain technology between developers and promote the development of global blockchain. Bringing together the world’s best blockchain developers and projects to prospect and advance the development of blockchain applications.

At present, many entrepreneurs of traditional projects have approached Mixin Network, and most of these entrepreneurs have more mature products. The Mixin Network will fully embrace developers and provide full support.


For more information and join MIXIN NETWORK social media today please follow these resources:

Website: https://mixin.one/
WhitePaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5028456.0
Twitter: https://twitter.com/Mixin_Network
Facebook: https://www.facebook.com/MixinNetwork
Telegram: https://t.me/MixinCommunity
Github: https://github.com/MixinNetwork
Reddit: https://www.reddit.com/r/UNetwork/
Youtube: https://www.youtube.com/channel/UCg67cC-GO8wNEOdgGH5IRew

https://bitcointalk.org/index.php?action=profile;u=826971

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