In the time past, injustice and unfairness have plagued the financial industry in the sense that the world's finances have remained under the firm grips of few individuals, financial organizations and government institutions thereby depriving the majority of the populace from taking control and dictating the pace of their financial future. Not only that majority of the populace are being denied access to control their financial activities but unnecessary transaction charges and high interest rates are being incurred by the people whenever they engage in any financial dealings with these aforementioned financial power brokers. However, people can now heave a sigh of relief following the advent of the blockchain technology which supports a form of digital currency known as cryptocurrency. Cryptocurrency being a digital currency driven by the blockchain technology allows peer-to-peer financial transactions without interference of any third party i.e financial or government institutions, hence people can now take charge and direct the affairs of their finances. On a quite disappointing note, most of the present blockchain networks that fires cryptocurrencies only process a handful of financial transactions at a time which doesn’t speak good of this new technology. The use of cryptocurrencies has been on the rise in the past few years therefore there‘s an urgent need to improve on the transaction processing capacities of the present blockchain networks in order to seamlessly process the financial transactions of customers which has remained on the increase lately.
INTRODUCING MIXIN
Having seen the need for having blockchain networks to process more transactions within the shortest possible time, Mixin blockchain network has been developed to improve the existing and popular blockchain networks to raise up their transaction processing capacities so that millions of transactions can be confirmed and added to their respective distributed ledgers within the best shortest time.
Mixin's capability to verify millions of transactions much faster than it’s other contemporary blockchain networks is made possible through its kernel. Mixin's kernel also remains a decentralized, public and high performance blockchain nerwork devoid of any centralized manipulations.
Mixing network utilizes a directed acyclic graph mechanism to handle transaction confirmations, which allows different nodes to validate new individual transactions concurrently thereby increasing the transaction handling output in the network. The issue of privacy and security on the Mixin network is not treated with levity therefoe the CryptoNote[0] one time key derivation algorithm is employed to boost privacy on the network, the one time key is usually referred to as a ghost address and its resultant output is known as a ghost output.
For easy account balancing and storing of unspent outputs, the Mixing kernel utilizes a specification payment verification system known as the light node; in addition, the light node can equally act as a light witness which monitors the Mixin kernel and also earns automatic voting rights in cases of attacker appeals, this can only be possible if the light node is a XIN token holder.
XIN TOKEN
XIN remains the utility token that fuels services and governance activities on the Mixin network, a certain amount of XIN tokens (10,000) is required for one to gain a full node rights on the Mixin network. Decentralized Apps creation and its associated Mixin API calls will require some payments using XIN tokens. A XIN token holder can equally take part in the following decision making: amount of kernel node penalty, community development, kernel development and upgrade etc.
XIN has a total supply of 1,000,000 XIN tokens out of which 400,000 tokens was successfully issued out through public sales while 50,000 XIN went to early Mixin messenger's adopters, same amount of 50, 000 XIN were kept for the development team while 500, 000 XIN were remained for rewarding Mixin's full and light nodes.
CONCLUSION
Apart from all this extraordinary features Mixin Network will definitely be the best thing that will happen to world of crypto
Don't waste time thinking about it join this great project now
And You will be very glad you did.
For more information on Mixin blockchain network, feel free to hit the following media channels:
Twitter : https://twitter.com/Mixin_Network
Medium: https://medium.com/mixinnetwork
Bitcointalk ANN : https://bitcointalk.org/index.php?topic=5048498.0
Website: https://mixin.one/
White paper link: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
Author bitcointalk username : alabscrypto
Author bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2235656
