Mixin is a distributed transactional network for digital assets. The assets can be other cryptocurrencies like Bitcoin, Ethereum, and Litecoin. And it helps other public distributed ledgers to achieve trillions of transactions per second; that too with zero transaction fees. Later in this article, we will give expert analysis on Mixin coin — also represented as XIN token.
The Mixin network consists of three parts:
- Domain Extension
The Kernel is a distributed ledger which takes care of verifying the asset transactions. However, the Kernel will not produce any sort of assets.
Each Mixin Domain is also a distributed ledger. And a Mixin Domain is responsible for providing assets to the Mixin Kernel. The assets can be any type and can belong to anyone, even the assets that belong to central banks around the world.
The Mixin Kernel oversees and verifies the assets given by a Mixin Domain.
So, Mixin Domains and Mixing Kernel are all about verifying transactions and, governing and tracking the assets.
And the Mixin Domain Extensions are something similar to the smart contracts on the Ethereum platform.
XIN Token (aka Mixin Coin)
XIN token is the sole coin used in the MIXIN networks for various activities. For example, for API calls, distributed application creation (dApp), and collateral for a full node, etc.
Mixin network runs on proof-of-stake consensus. And to join as a node in the network, one must vest 10,000 XIN token.
The Mixin whitepaper or blog does not talk about any Mixin ICO. However, 1 million XIN token has been issued at once, and 400,000 Mixin coin has been distributed between 25 Nov to 25 Dec of the year 2017, at a rate of 20 EOS/XIN. Plus, 50,000 Mixin coin is given to early adopters of the Mixin messenger, and 50,00 XIN token are reserved for funding the project’s development.
According to CoinMarketCap, the Mixin price is 131.15 USD, at the time of writing.
currently, you can purchase mixin coin only on big.one exchange
So, what do you think about Mixin coin? Let us know by commenting below.