Mixin aims to solve the blockchain scalability by creating a distributed ledger network

Hello Everyone, I will introduce the project about Mixin. If you are willing to join the Mixin project, let's look at the following review:

Mixin was coming out in late 2017, there were several words make people feel confused, such as Mixin, Mixin Network, Mixin Messenger, and XIN. People always misunderstand them, if you agree to it, please continue to read this article, you’ll find the answer.

What is Mixin?

Mixin is the name of the project and the name of the blockchain or we can say it the public blockchain, and Mixin Network is a free and lightning fast peer-to-peer transactional network for digital assets. It distributed a cross-chain solution with built-in smart contracts that facilitates instantly and secure cryptocurrency and crypto-asset transfer. It allows developers to build cross-chain DApps based Mixin Network protocol. As a TEE powered BFT-DAG network, Mixin could connect all existing blockchains with unlimited throughput. It’s now supporting Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, Ripple, Sia. Moreover Mixin will support all popular blockchains shortly.

Mixin Messenger

Mixin Messenger is an example to show developers how to build the DApps on Mixin Network. Users can easily access their kinds of blockchain assets only through a phone number and a 6-digit PIN code. XIN is the sole token used by many services in Mixin, especially full node collateral, the DApp creation and API calls. To join the network as a full node, it should pledge at least 10,000 XIN token to establish the initial trust. Every DApp creation will cost some XIN for one time, the cost is determined by the resources the DApp claimed to consume. The Mixin API calls from DApp may cost some XIN depends on the call type and count. All the XIN penalties and fees charged by the network will be recycled to the mining pool.

How to work Mixin
The platform is designed to offer everyone a fair platform, created on a decentralized network – built for purpose of processing transactions, contracts and businesses within seconds. It is a p2p based system that will make it possible for any third parties to use the system successfully and safely through the use of contracts. The purpose of the platform is to provide an ultra-safe and decentralized environment where people can go to make safe exchanges and transactions.

Mixin is composed of a single theoretically permanent Kernel, many dynamic Domains and different multipurpose Domain Extensions, to formulate an extended star topology.

Mixin Kernel

Mixin Kernel is a high performance distributed ledger and its sole responsibility is to verify asset transactions. That said, the single permanent Mixin Kernel is also a distributed network just like Bitcoin network as a whole. Although Mixin Kernel verifies asset transactions, it doesn’t produce any assets. All assets flow through the Kernel by Mixin Domains.

The core of Mixin Network is the Mixin Kernel, a fast asynchronous Byzantine fault tolerant directed acyclic graph to handle unspent transaction outputs within limited Kernel Nodes.

Mixin Domain

Mixin Domain is a distributed ledger to provide assets for the Mixin Kernel. The assets may be those on Bitcoin, Ethereum or any other blockchains, even central organizations like banks.

Kernel System Calls

Mixin Kernel offers some system calls to communicate with Domains, and it’s the only way the Kernel andmDomains can exchange state. The system calls are defined as standard JSON-RPC interfaces.

JSON-RPC is a stateless, light-weight remote procedure call (RPC) protocol. It is transport agnostic in that the concepts can be used within the same process, over sockets, over HTTP, or in many various message passing environments. It uses JSON (RFC 4627) as data format.

Domain Extensions

With a transaction only purpose Mixin Kernel, and Mixin Domains as assets provider and gateway to external blockchains or any other sources, Mixin has become the most sophistic and high performance distributed ledger to almost all digital assets. However, people need smart contracts, which have been made popular by Ethereum. We allow Extensions to Mixin Domains, something similar to smart contract but with higher robustness, capability and performance.

Domain Extensions are programs running in the Domain Virtual Machine secured by the Secure Enclave in Intel SGX, a popular and secure Trusted Execution Environment.

Due to the possibility to run the “smart contract” in a single computation unit, Domain Extensions can achieve many goals which are almost impossible in something similar to Ethereum.

Much higher performance and lower latency which is only limited by the hardware.
Non-deterministic transactions, e.g. trustable random number.
Interact directly with trusted external sources.

The Objective of the Mixin Coin Project:

Mixin wants to create balance in distributed networks and traditional clusters by combining the advantages of both. The purposes that Mixin wants to accomplish include:

Building all the nodes on the network has authoritative but reliable limits to ensure data transparency and consistency.
Establish a network in which transaction fees are free with high throughput and low latency.
Creates a blockchain inter-communications protocol that connects all common blockchain networks.
Transactions are anonymous and interact directly with trusted external sources.
Easy and secure account verification based on phone number and PIN.
The secure encrypted message system ensures that no one can read the message except the designated recipient.
Creates a friendly code system that facilitates compatibility for all Linux libraries and programming languages, enabling third-party developers to use the system to create powerful, feature-rich applications than.
Become the largest blockchain network for mobile phones.

XIN - The 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: 438,154
Token Sale Date: Nov 25 ~ Dec 25 2017
Market Cap: $231million (rank #45)
Current price: $529

Roadmap

Conclusion

In a highly competitive space where hundreds of protocols are fighting for market dominance, Mixin stands out by providing a multilayered infrastructure that enhances scalability, security, privacy, and cross chain functionality.

At the base layer, Mixin aims to solve blockchain scalability by creating a network of distributed ledgers that function under a highly secure directed acyclic graph design. On top of this high functioning network sits a simple mobile messaging application, which enables users to seamlessly store and transfer a variety of cryptocurrencies between contacts. Lastly, Mixin is aspiring to become a platform for cross-chain Dapp development.

For more information about the Mixin project, please visit the link below: