Bitcoin is the first cryptocurrency to come out and it is the most highest prize crypto assets in the crypto world. This particular cryptocurrency opens door to millions of cryptocurrency that exist today currently.
It opened a way to both the investors and the traders to the extend that many people today can comfortably on their own manage their crypto assets themselves without any sort of assistance.
So because of this both the public and the professionals they have all accepted the great idea that is behind bitcoin and the blockchain technology network and the users of the cryptocurrencies have grown drastically.
However,this rapid growth of the crypto users have really affected bitcoin in so many ways such as insufficient transaction capacity,slow confirmation and high transactional fees.
Bitcoin is a flexible distributed cryptocurrency and because of this it is actually impossible to fix some critical flaws. To many rather than fixing this issues they rather invent new projects that is totally addressing a different perceived shortcomings of bitcoin.
Many people have even went to the extend of bringing an excellent solution such as lighting network which is a micro payment system that is built on bitcoin network but still no solution was made.
All this solution brought have put the entire bitcoin network forward without sacrificing the security and distributed nature of the original bitcoin vision. However,out of the my attempts made by people to bring solutions to this but still no way.
So because of this ,that is the main reason why the Mixin platform was created to bring a solution to this. The Mixin platform will not create another cryptocurrency or a competitor to any distributed ledgers rather the platform is a distributed ledger that will allow other public distributed ledgers to gain trillions of TPs, zero transaction fees,sub second final confirmation,enhanced privacy and unlimited extensibility.
THE MIXIN PLATFORM
This is a public distributed ledger system that is made up of single theoretically permanent kernel,dynamic domains and many different multi purpose domain extensions which formulate an extended star topology. The diagram below summarizes the whole design of the platform.
To start with the kernel,it is a high performance distributed ledger and it's work is to verify assets transactions but it can never produce assets rather all assets flow through the kernel by mixin domains.
This domains is also a distribution ledger and it's work is to make assets available to the mixin kernel. Every each of the mixin domain is a component that provide assets to the mixin kernel which mixin kernel itself is also a component in the mixin domain that verifies and govern its assets.
Starting from the kernel to the domains,the mixin network is all about assets and transactions. In the case of mixin domain extension ,this is where the magic happens,whether for ethereum contracts, EOS contracts or even any thing else.
THE MIXIN DOMAINS
This is a distributed ledger that provides assets for the mixin kernel. This assets may be the ones found on thr bitcoin,ethereum or even any other blockchain,even the central organization such as the banks. The diagram below explains more to this
It has many components that it uses t work such as the domain extensions and the kernel system cells.
THE TOKENS
The token name of the mixin tokens is XIN and it is used by many services such as the full node collateral,DApp creation and API calls. It has a market cap of 170 million $ with a circulating supply of 406,156 XIN and a total supply of 1,000,000 XIN.
HOW MIXIN WORKS
The website specifically describes the mixin network as a complete trusted execution environment that is powered by the algorithm BFT-DAG and this makes it possible to connect blockchain for optimal throughput.
This proves that it is an inter blockchain communication system for helping users connect to other networks. Below are the components that helps the mixin platform work more efficiently.
Non deterministic transactions that interact directly with trusted sources.
Zero knowledge proof
Inter-blockchain communication protocol
Secure end to end encrypted messaging channels
THE ROADMAP
TEAM MEMBERS
CONCLUSION
The mixin platform is really an interesting one and it has many features and also with the help of the blockchain technology. It is really introducing a better and incomparable ideas in the crypto world. For more information about this project, please follow the links below.
USEFUL LINKS
Website-- https://mixin.one
Whitepaper-- https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
Ann thread-- https://bitcointalk.org/index.php?topic=5028456.20
Twitter-- https://twitter.com/Mixin_Network
Telegram-- https://t.me/MixinCommunity
Medium--- https://medium.com/mixinnetwork
Reddit-- https://www.reddit.com/r/UNetwork
Author details
Bitcointalk username--- ifeoma
Bitcointalk profile link-- https://bitcointalk.org/index.php?action=profile;u=1616375
