Mixin - cryptocurrency messenger with pass-through encryption

Mixin is a crypto project whose main goal is to create a global platform with unlimited bandwidth and functionality that will allow connecting all existing blockchain projects to the network.


Mixin is an instant messenger that can now be downloaded from Google Play and the App Store.
The program allows you to transfer all types of cryptocurrency using end-to-end encryption technology. This feature allows the most comfortable and easy to enter the sphere of use of cryptocurrency, even for those who do not have a sufficient level of knowledge and experience, which are usually essential for this.

XIN - the main coin which is used by a variety of services within a single platform mixin. This currency is used both to create network nodes (you need to have at least 10 thousand tokens on your wallet), and to create each decentralized application (there is a price dependence on the amount of resources consumed).

Basic currency information platform:

Trading symbol - XIN.

Available for trading - from January 9, 2018.
The total number of coins currently in circulation is 440,718 XIN (total of 1,000,000 XIN coins).
Capitalization - $ 192,027,289 USD.
Cryptocurrency exchange rate XIN - $ 435.71 USD (as of 08/01/2018).
Official site - https://mixin.one/
History of creation and development
Mixin platform is a development of the Japanese company Mixin Limited. The official launch of the project took place in 2017. Unfortunately, the information on the developers of the application and technology is still unknown. There is no clear data about the company itself. For modern cryptocurrency projects, this feature is not uncommon
so, no wonder.

Despite the absence of such important data, quite good statistics on the number of transactions has been demonstrated since the launch of the project. Although it is worth noting that the lack of transparency in most cases is a sign of not very successful and not too successful projects.

As for the main coin platform, then it was released on January 9, 2018. At that time, its rate exceeded $ 2,300. Later, there was a general decline in the market and XIN fell to its minimum price tag of $ 209 per unit. Now the course has stabilized and is being held at around $ 460, with occasional fluctuations in one direction or another.

Technical details and mechanism of work

As we noted above, the creators of the platform set themselves the task of making the use of blockchain technology as simple and accessible as possible for the maximum number of users. It just so happened that to understand the intricacies of using wallets, private keys, features of stock trading and other aspects is quite difficult. And not everyone has and uses a good computer, which is required for these purposes.

If we consider Mixin as an instant messenger, then this is a program that uses the algorithms of the sensational messenger in due time. In this case, the protocol works only on the client side, and messages are removed from the network immediately after the recipient reads it. All media files undergo complex encryption and receive a special key before uploading to the cloud. Extract it can only be the recipient.

As for the blockchain aspect, Mixin is a platform with two consensus algorithms (DAG and BTF). Its technical potential allows you to use smart contracts and create decentralized applications. Also, users can create DApps in the Mixin network and then use them in other blockchain projects.

The main advantages for ordinary users:

a simple mechanism for transferring cryptocurrency to other people;
the ability to transfer cryptocurrency, even to those who are not yet registered in the system, only need a phone number;
easy access to all services and applications in the cryptocurrency space;
one of the most advanced message encryption technology.
The platform can be used exclusively as a good anonymous messenger.
In theory, all these aspects should attract users of various cryptocurrencies to the site and ensure a good future for it.

Comparison with the main competitor

Over the past couple of years, several different messengers have been released,
which added blockchain features to its core technology. Most experts are inclined to believe that the main competitor of Mixin is the Chinese E-Chat, which was released around the same period.

Common signs that are characteristic of E-Chat and Mixin:
Both messengers have an increased aspect of anonymity of correspondence: they encrypt all transmitted data and do not store them on centralized servers.
Both platforms have the functionality for third-party developers that allows you to create decentralized applications for both Mixin and other blockchain projects.
Mixin and E- Chat allows their users to send each other cryptocurrencies.

Differences between the two competitors:

Mixin, unlike E-Chat, allows you to create applications for different blockchain projects. At the same time, the competitor has only one programming language and applications based on it will fit only the block of Ethereum.
In the Mixin system, the account binding goes to the mobile phone number. At the same time, the E-Chat privacy preservation system is much more complex and uses IPFS, P2P and End-to-end.
In E-chat, content authors are rewarded for likes.
E-chat is a more decentralized project due to the scheme with the distribution of all 100% of tokens between users. At Mixin this indicator stopped at 50%.
In general, it is impossible to allocate an obvious favorite. Each project has its advantages and disadvantages, which slightly share their potential audience and users.

Mining mixin

Mining cryptocurrency is not provided. Initially 1 million coins were issued and this number is the maximum. At the time of writing, a little over 440 thousand XIN are in circulation.

There are two main ways to get coins at the current stage of the project development:
Periodically, the platform team distributes them for free through their official twitter account.
The most affordable and easy way to get XIN is to buy coins through a cryptocurrency exchange.

In the future, it is planned to pay a certain remuneration to the miners for maintaining the network operability,
but no precise technical details have yet been reported.


How and where to buy Mixin

Buying coins is only available on the BigONE exchange. Now users are provided with the following cryptocurrency pairs:

To purchase, create an account (the Create Account button in the upper right corner of the screen).
Next to complete the transaction, complete the following steps:

Expand the list on the top and select the cryptocurrency pair you are interested in, or simply use the link to the exchange page that we provided above.

Next to the bottom of the screen will appear a window for purchase, in which, after the “Price”, the price tag of one XIN is displayed (the indicator can be changed manually, but this option will become something like your bet and you will have to wait), and in the “Amount” field you will enter the number of coins you need. As a result, the amount in Bitcoins or Ethereum, which you will need to pay, will appear in the lower Total section.
After pressing the big green Buy XIN button, an automatic purchase will be made if the price matches the market one. If it does not match, the order will be sent for processing.

Mixin Wallets

To store XIN cryptocurrency, you can use the program itself from the Google app store or Apple.

But this is not the only option.
Since the token itself is based on the ERC-20 technology, you can take advantage of common variants of cryptotographs, which were originally intended for Ethereum and currencies based on it.

The best options are:

MyEtherWallet is the most popular and well-known wallet for ERC-20 tokens (browser-based, but rather safe).
ImToken is one of the best options for those who prefer mobile wallets.
MetaMask is a convenient wallet extension for various browsers. Not too safe, but extremely convenient option for purchases on various Internet services.

Development prospects

At the present stage of the project development it is rather difficult to predict the success of its further development. The official site does not feature a roadmap that is common among successful blockchain projects, and the whitepaper doesn’t look very presentable due to its small size and scarcity of information.
Currently, users only have access to the beta version of the platform, which does not create additional responsibility for developers who should be responsible for its performance.

The only sources of information about the future of the project are the Logs section on the official website and two accounts: on Twitter and Facebook.
But there are not too specific and vague data.

In general, if the project develops in a given direction and implements a couple of features that competitors possess and which he himself is deprived of, he will be able to occupy his niche, and maybe even become extremely successful. The only thing that developers need to think about is
this is an improvement in communication with their community and an increase in openness, at least in the information aspect of this issue.

Mixin Network Link:
Website: https://mixin.one/
WhitePaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
ANN Subject: https://bitcointalk.org/index.php?topic=5028456.0
Twitter: https://twitter.com/Mixin_Network
Facebook: https://www.facebook.com/MixinNetwork
Telegram: https://t.me/MixinCommunity
Github: https://github.com/MixinNetwork
Reddit: https://www.reddit.com/r/UNetwork/
Youtube: https://www.youtube.com/channel/UCg67cC-GO8wNEOdgGH5IRew

My profile - pushka - https://bitcointalk.org/index.php?action=profile;u=1166061

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