Mixin is a platform with very fast transaction processing speed.
This platform provides the ability to program smart-contracts and create decentralized applications. Any blockchain application can run on the Mixin Network. This means that if decentralized applications were created on different blockchains, it can also run on the Mixin blockchain. This unique feature can really interest many people to use this platform, poaching them out of other projects.
Problems
Mixin's developers pay attention to the fact that the authors of most modern cryptocurrencies do not pay much attention to such important components as the speed of transactions, ease of use of the crypt.
There are several problems:
High entry threshold. Even if you know a couple of programming languages, this does not mean that you can easily create decentralized applications for any blockchain platform. This is inconvenient for business and for ordinary users.
Blockchain platforms exist separately from each other. This creates additional discomfort when using them. For example, if you write a decentralized application for one platform it will not work for another.
Many cryptocurrencies still use inefficient consensus algorithms such as PoW.
Recently, there has been a tendency to switch to PoS, DPoS and their modifications, but they are not ideal.According to the developers, the binding of blockchain platforms to the PC somewhat narrows the potential audience. Despite the rampant computerization, hundreds of millions of people still do not have their own computer. At the same time, they may well take advantage of the cryptocurrency, if they are given such an opportunity.
Low - bandwidth. The number of transactions processed by Ethereum is now in the tens, because of this, even a small surge in user activity can literally paralyze the network. There have been incidents in the past. There are solutions to this problem, but it is better to design the network from the beginning so that there are no problems with scalability.
This problem is relevant for beginners who do not particularly want to understand what crypto-wallets, private and public keys are, how to store and use them. If a person just needs to send money, then because of the reluctance to deal with this, he will give preference to the fiat currency.
Solutions
The entry threshold is reduced due to support for multiple programming languages. This should ensure a painless transition from other blockchain platforms.
Mixin will support decentralized applications from other platforms with its own blockchain.
Mixin is a platform that uses the asynchronous BFT consensus algorithm. The essence of the algorithm is that the performance of the network will depend only on a certain group of selected nodes (validators or full nodes). They will share information with other nodes and their decisions cannot be challenged. A similar approach is used in Ripple, Stellar, so it has already proven its effectiveness.
Network nodes are not personal computers, but smartphones. Currently, smartphones are more accessible than PCs, so this approach provides coverage to a wider audience. There is no need to store the entire blockchain on the phone, the BTF consensus algorithm does not require this. The necessary calculations will be carried out directly on the node, that is, on the mobile device, and then sent to the network.
Now you can download the client version for your smartphone ( PlayMarkett and AppStore ) and try to transfer cryptocurrencies via messenger.
Solution to the problem №5
Adding new nodes does not reduce network bandwidth at all. The calculations are performed by the node itself, not the entire network, so there are no scalability limits.
Solution to the problem №6
User does not have to spend time working with keys and comparing cryptocurrencies in Mixin. User can access their account by simply checking their own phone or using pin code.
Mixin Token
XIN provides access to a variety of services, such as full node provisioning, decentralized application creation, and API calls.
Total Supply is 1 000 000 XIN.
Circulating Supply ~ 443 645 XIN.
Market Cap - $61 699 557 USD
You can check XIN Coinmarketcap.com
Conclusion
Mixin catches my attention with very cool features and capabilities. The idea of creating a platform that will support decentralized applications from other platforms with its own blockchain, looks amazing! Definitely the project deserves attention.
More information
Website:https://mixin.one/
Telegram channel: https://t.me/MixinCommunity
Twitter: https://twitter.com/Mixin_Network
Facebook: https://www.facebook.com/MixinNetwork
Whitepaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
My profile: https://bitcointalk.org/index.php?action=profile;u=1364957
