Mixin is a project that is not like the others. Where many blockchains are focused on distribution and secure key management; Mixin is looking to strike a balance between distributed networks and server clusters.
Mixin is a zero-knowledge proof blockchain that is free of transaction fees, has a high throughput and relatively low latency. It is an inter-blockchain communication protocol working on connecting the major players in the blockchain world seamlessly. The account model is based on PINs and phone numbers as the project is aiming for a mobile-audience. The fundamentals of Mixin are based on trusted full nodes that work in a trusted execution environment. Mobile nodes act as validators to approve of transactions by these full nodes. On top of this, Mixin has an in-built messenger service that works on end-to-end encryption for added security.
DApps of course can be built on the Mixin blockchain. For developer’s and their applications, DApp creation requires payment in XIN tokens. The size and resources needed to run these DApps are what determine the amount developers must pay to host their applications on the Mixin network. Because normal users of XIN are not charged for transactions, developer’s of DApps are able to charge for the use of their own applications. Calls to API’s hosted by Mixing are also charged XIN to perform. XIN fees are ultimately burned to increase the existing value of XIN tokens.
In terms of Account and Security/Identity management, Mixin has taken note of the frustrations that many blockchain users experience with different platforms. The most populated blockchain networks work on a system that is complicated and hard to figure out for newer end users. Complex hash addresses have been replaced with phone numbers, verification codes and 6-digit PINS to help in remembering account information. Mixin also intends on including Touch and Face ID for mobile phone users.
So the main advantages Mixin provides for blockchain enthusiasts and the business world is its security within a Trusted Execution Environment, inter-blockchain communication capabilities, and its mobile and PIN-based identity system. Its innovative Messenger service is Mixin’s official first DApp on their ecosystem. Very interesting concept behind this blockchain model! Check out the Mixin whitepaper when you got some time!
