MixinMixin is a mobile app which will allows people to transfer cryptocurrencies and tokens between each other privately via an encrypted blockchain.
What is Mixin?
Mixin is a mobile app which will allows people to transfer cryptocurrencies and tokens between each other privately via an encrypted blockchain.
How does Mixin work?
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 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.
Each Mixin Domain is also a distributed ledger, whose job is providing assets to the Mixin Kernel. The assets may be those on Bitcoin, Ethereum or any other blockchains, or even central organizations like banks.
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. Each Mixin Kernel Node is required to pledge 10,000 XIN, therefore due to the 500,000 XIN circulating supply, no more than 50 Kernel Nodes will exist. To prevent extremely centralized authority, the Kernel can only be booted with at least 7 Kernel Nodes.
The Kernel nodes make up a loose mesh topology, and are responsible for transaction validation and persistence. Unlike a blockchain, there are no blocks in the Mixin Kernel, all transactions will be exponentially broadcasted as soon as possible.
The Kernel BFT consensus is secured by a strict punitive PoS, if a Kernel Node is determined to be an attacker, all its collateral will be recycled to the mining pool. The node will be identified as an attacker if it tried to broadcast an obvious double spend snapshot.
The Native token on Mixin network is XIN. XIN is the sole token used by many services in Mixin, including full node collateral, DApp creation and API calls.