MIXIN NETWORK

in #messenger • 6 years ago (edited)

MIXIN.png

Mixin Network
As the challenge of Blockchain scalability continues to handicap cryptocurrencies ascension to mainstream adoption, an industry wide arms race has been launched to produce a distributed ledger capable of achieving faster transaction speeds without compromising security or decentralization. Although solutions like the Lightning Network, Raiden and Plasma currently lead the way, they still haven’t been proven to be the definitive solution for achieving true scalability.

In response to this, the Mixin Network brings to market a multilayered platform built to enhance the speed, privacy and security of transactions between digital assets across multiple distributed ledgers.

Mixin provides a messenger app — ‘Mixin Messenger’, where users can store cryptocurrencies in their wallet, and perform lightening fast peer-to-peer transactions between contacts. Developers can also build new Dapps on top of the Mixin Networks infrastructure.

With bold claims of over a billion transactions per second, 0% transaction fees, and an infrastructure for cross chain Dapp development; Mixin is positioning itself to be the dominant solution to the blockchain scalability problem.

Download Mixin Messenger For Google Playstore: https://play.google.com/store/apps/details?id=one.mixin.messenger
Download Mixin Messenger For AppStore: https://itunes.apple.com/app/mixin/id1322324266

How it works
The Mixin Network is composed of different high performance distributed ledgers, with the core ledger called the ‘Kernel’, and the supporting ledgers called ‘domains’ and ‘domain extensions’.

Domains are gateways that feed assets from Bitcoin, Ethereum, other Blockchains, and even central banks into the kernel. The kernel is responsible for verifying and governing the assets and their transactions.

Domain extensions are the distributed ledgers that store Ethereum, EOS and other blockchain smart contracts and trusted applications.

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 Token
XIN tokens are the main token used in the network. Like Bitcoin and Ethereum, the token is paid to those who support the network by validating transactions. XIN tokens are also staked in the proof of stake consensus protocol (at least 10,000 XIN tokens must be staked to join the network as a full node).

The Mixin Network also connects to different Dapps using API calls. These Dapps pay the network in XIN tokens based on the amount of resources the Dapp consumes.

Total Supply: 1,000,000
Circulating Supply: 443,544
For more information Please Visit, https://coinmarketcap.com/currencies/mixin/#markets

Team
The Mixin Network team consists of experienced developers who have worked in the blockchain and tech space for many years and produced a variety of unique multimedia apps. Overall the team has 20 members who are based in China and Japan.

  • Cedric Fung — CEO — Blockchain Architect of Asia’s top emerging exchange BigONE, Co-Founder of Yixia.com, China’s video ecosystem leader with products including Miaopai short video app, Xiaokaxiu dubsmash app and Yizhibo live stream app
  • Danna Li — COO — Earliest blockchain adopter, former 8BTC Columnist, Bitmain Investment Lead, INBlockchain core team member and BigONE Operation Lead
  • Crossle Song — CTO — Former Yixia.com Technology Lead, Vitamio SDK Architecture Lead, seasoned Android and iOS developer
  • Oven Tang — Product Lead — Developer of Miaopai, China’s leading video app with 300M users

Roadmap
2018 mid July — Debut of Mixin Exchange
2018 September — Mainnet beta launch
2019 February — Mainnet launch

Community Development Plan
2018 early July — Mixin Developer Hackathon
2018 July 7–9 Hack Summit

Mixin Messenger

#blockchain #ethereum #token #cryptocurrency
6 years ago in #messenger by
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