Cryptocurrencies over the past years has been able to create a niche for itself with its fast rising and gaining of popularity all over the world.It really has become a great help and a game changer in the world's economy.
From the creation of bitcoin in the year 2008,more have emerged over the years,talking about the likes of ethereum, litecoin, ripple, neo & a host of others and these actually come with different characteristics of which bitcoin doesn't have some of them,so this fills in the gap where bitcoin lags.Bitcoin despite being in the world for a long time now still comes with its challenges and problems. For instance, it cannot handle transactions if they become so many and this poses as a big problem because more transactions are going to go on on a daily basis as bitcoin gets more popular so if a solution isn't found as soon as possible it may discourage people from actually using it for exchanges. Another problem is that of transactions being made on it's network taking too long for confirmation and also bitcoin tholes the attraction of fees charged for transactions taking place being on a high side which can be very discouraging for users. These are problems more crypto brought up nearly everyday are trying to solve and some people who still hold on to hope for the bitcoin crypto have suggested solutions by the use of lightning network and liquid project from blockstream. The former is a financial transaction for a very small amount of money which is constructed on the network of bitcoin without changes being made to it's code, while the latter is United under a body.
Despite these being solutions that could actually help the network, another solution has been brought unto the table to also help the network and this solution is known as Mixin.Not being one of them out there, Mixin is a ledger that is spread out to the public and offers fast confirmation of transactions, attracts no fee for transactions made, ensures personals of users stay personal, and is very extensible with no limitations.
This network has some features which makes it up and these are the kernel, domain and domain extension. The kernel is the core of it all. It is a ledger that is spread out and has an elevated form of execution. Its job is to confirm the accuracy of transactions made and also making sure it's free from errors.With this being it's job, the kernel does not produce assets.Every asset which goes through the kernel is made so by the domain. The domain is also a ledger which is spread out and takes on the job of making provision of assets for the kernel. Example of these assets may be the blockchains like bitcoin or centralized corporation like the bank. The last of it being the domain extension is the place where exchanges are made.
It is somehow identical to the smart contract just that it has a higher quality of resistance to failure regardless of unexpected conditions, ability to generate wanted outcomes, and also higher execution. Because of these qualities, it can accomplish a lot of objectives that seem nearly not possible for other cryptocurrencies. This being that it has little or no delay and this delay stems from hardware setbacks,it can produce digits that can't be guessed,it can converse with the outside which is trustworthy.
There's no necessity for monitoring of the processes on the mixing network but in conditions where the application can't take care of, vectors are used in checking the various problems that may occur on the network. The token used on the mixing network is called Xin.
The security provided by mixin is better for use by the public on a daily basis than other solution of cold storages(private keys that are not shown on the net and controlled by a lot of people working in the same enterprise).Also all things written here which mixin brings in to help the world of cryptocurrency is not self invented but are fully developed in other projects in existence.
An app which has been developed by mixin called the mixin messenger app has demonstrated true everything written here and given the assurance that it is safe to use in the outside world not like most of the other projects out there which have a lot of wonderful things written that they have to give to the world but can't put what they've said into action.
Website: https://mixin.one
✓ Whitepaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
✓ Explorer:** https://mixin.one/snapshots
✓ Twitter: https://twitter.com/Mixin_Network
✓ Medium: https://medium.com/mixinnetwork
✓ Github: https://github.com/MixinNetwork
Writer's Info
Bitcointalk Username: bluecrab