Mixin Network - Lightning Fast Transactional Network For Digital Assets

Blockchain is the revolutionary technology in the history of mankind. It's immutable, incorruptible and unhackable nature makes it more superior than any other technology. Blockchain technology backed Bitcoin is known as the future of financial transactions. In the recent years the popularity of Bitcoin and Blockchain all around the world allowed people to widely accept these revolutionary technology.

Even though the Bitcoin is more superior but still there is no practice application present in any part of our society. The reason for this is the Bitcoin has significant problems such as:
• insufficient transaction volume;
• slow transaction confirmation rate;
• high transaction fee;

However the Bitcoin network is highly inflexible which makes it more difficult to fix the above mentioned issues. That's why many projects created alternative blockchains to address the shortcomings of Bitcoin network. But there are very few projects which provided solution to original Bitcoin network such as lighting network, which improved transaction speed of the bitcoin network - which helps in micro payments; another solution from Liquid project which provides sidechain feature.

Now Mixing Network will provide a perfect solution to Bitcoin network shortcomings.

Project objective

The main aim of the project is to create a public distributed ledger which allow other public blockchains to gain millions of transactions per second, increase transaction volume at zero fee, transaction confirmation in mili seconds while maintaining highest level of security and privacy.

Principle of operation

The main part of Mixin Network is Mixin kernel; it's main purpose is to verify asset transactions. The single kernel is like a whole distributed network. Even though the kernel verifies asset transactions but it cannot generate any new assets. Each Mixin domain is like a distributed ledger whose main job is to provide assets to the Mixin kernel. The assets includes Bitcoin, Ethereum, Stellar, Ripple and other blockchains.

The Mixin kernel and domain are the components of each other. It is worth noting that there is central authority to control these distributed ledgers.

Mixin kernel is the core of Mixin network which provides highest level of security and privacy. It detects any unspent transactions on the network.

The Mixin Network provides highest level of security from BFT consensus algorithms and Proof of stake (PoS) concepts. The security of the network is enhanced by TEE (Trusted execution environment) system. It helps to detect any fraudulent attacks on any node.

The Mixin networks light mode feature helps to simplify payment verification process SPV. It stores all the unspent outputs in order to simplify account balance procedures.

Mixin kernel has ABFT consensus DAG system which helps in instant execution of operations. Which not only enhances the security but also provides 1 million TPS with 1 second transaction confirmation time.

The key features of Mixin network:
• the Mixin network provides highest level of security with TEE, light witness
• it processes billions of TPS with just 1 second final confirmation; which solves scalability issues
• it supports 12 main chains and 40,000+ cryptocurrencies
• there is no transaction fee on the network transactions
• the network kernel uses UTXO model of Bitcoin to handle private transactions

In order to provide user friendly transaction solutions the Mixin network created:
• Mixin Messenger
• OceanOne

Mixin Messenger, is a decentralized application built on Mixin network. It acts as a messaging application as well as a cryptocurrency wallet. It has all the features of messaging service and crypto wallet; it currently supports 12 major cryptocurrencies.

OceanOne, is a decentralized cryptocurrency exchange built on Mixin network. Which provides simple user interface with highest level of cryptographic security.

XIN is the only token used on the Mixin platform four all its operations.

Team

Conclusion

Mixin network provides a perfect and necessary solution to blockchain problems. Mixin helps different blockchain's to improve their transaction speed, capacity and fee issues. Mixin solves the core issues of Bitcoin network. Mixin network plays an important role in making blockchain implementation in mainstream society.

Learn more about Mixin Network:
Website: https://mixin.one
Read Whitepaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
ANN thread: https://bitcointalk.org/index.php?topic=5048498.0
Telegram: https://t.me/MixinCommunity
Facebook: https://www.facebook.com/MixinNetwork
Twitter: https://twitter.com/Mixin_Network
Medium: https://medium.com/mixinnetwork
Reddit: https://www.reddit.com/r/mixin/
YouTube: https://www.youtube.com/channel/UCg67cC-GO8wNEOdgGH5IRew
GitHub: https://github.com/MixinNetwork

About Author:
Bitcointalk username: Abhijeetcg
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ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d