Mixin Network: A Fast Free Lightening Peer-To-Per Transactional Network Used For Digital Assets
Mixin is made up of: A single theoretically permanent kernel, a lot of dynamic domains and several multi-purpose extensions of domains which is used to formulate an extended star topology.
This said topology, may result to a concern that Mixin happens to be a centrally controlled network, but the said functions are made different, because kernel works in a different way.
Mixing kernel happens to be a distributed ledger of high performance, it has a basic responsibility of verifying asset transactions.
Despite the fact that Mixin Kernel verifies the transaction of asset, it does not produce assets at all. Assets flow through kernel by mixing domains.
Mixin Domain is a component that is used to provide assets for the Mixin of Kernel. The kernel is a component used for the Mixin Domain and it is for the verification and governing of assets.
The most important area of Mixin Network is the Mixin Kernel.
Mixin Kernel is a fast asynchronous Byzantine fault tolerant with a directed acyclic graph that will handle an unspent transaction output available within limited kernel Nodes.
Mixin Kernel makes proper use of the UTXO model of Bitcoin in the handling of transactions, CryptoNote [O] is a one-time key derivation algorithm that is used to improve privacy and this is because there is no address reuse issue.
The existing three Ghosts Outputs thresholds, delivers a better privacy, it also forces the outputs of random amounts.
Every individual Mixin Kernel node takes about 10,000 XIN and this happens to be approximately 2% of the network stake.
The operational nature of kernel can be with at least 7 nodes joined and around 15% of the entire network stake.
Mixin Kernel is an ABTF consensus DAG already, and in order to ensure further security, the kernel nodes have to run in only trusted execution environment.
Mixin specifically makes use of Intel SGX as the TEE implementation.
Mixin light node is a simplified payment verification (SPV) node that is used for Mixin Kernel. This in its own way, typically stores every output left unspent for the query of easy account balance.
The vote of light witness is weighed on XIN stake, this vote is however majorly on the attacker’s node’s network that is connectively state to determine the behaviour of the attacker is as a result of delay in network.
The reason why the light witness is incentivized to carry out these votes is because they could get reward of mining if adequate work is done for the network.
Mixin Domain can be described as a distributed ledger that provides assets for Mixin Kernel. The assets discussed may be those available on Bitcoin, Ethereum or any other blockchains.
A domain can only become registered to the Mixin Kernel if every of the Standard Domain Interfaces is implemented.
XIN is the major token that is used by a lot of service in Mixin, which includes a full node collateral, the creation of DApp and the calls of API.
In order to join the network as a full node, a minimum amount of at least 10,000 XIN token must be established as initial trust.
Every XIN penalties and fees that is charged by the network will be recycled into the mining pool.
The team has proposed the Mixin Network as a multi-layer distributed network. The major layer of Mixin Kernel is a highly distributed transactional network that is designed according to the ABFT directed acyclic graph.
Mixin is secure for everyday use when compared with almost every other existing cold storage solutions.
The messenger application for Mixin has proved that the paper is feasible for real world implementation, when compared with other projects.
Authored by: geeboy88
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