Mixin is a free, fast peer-to-peer cross-chain digital asset trading network that enables other blockchain distributed ledgers to achieve ultra-high TPS, sub-second confirmations, zero transaction fees, enhanced privacy, and unlimited scalability.

Project Introduction

Mixin is a free, fast peer-to-peer cross-chain digital asset trading network that enables other blockchain distributed ledgers to achieve ultra-high TPS, sub-second confirmations, zero transaction fees, enhanced privacy, and unlimited scalability. Like EOS, Mixin balances centralization and decentralization to provide optimal performance. It uses phone numbers and PIN codes for identity verification, eliminating barriers for the general public entering the blockchain space. A key highlight of Mixin is its deflationary mechanism for paying miners through coin burn, which allows users to transact for free, achieving a similar effect to EOSs inflation model. Within the Mixin network, circulating BTC or other digital currencies flow internally among users without interacting with actual BTC networks, enabling fast transfers with no transaction fees (deposit and withdrawal fees still apply).

Mainchain Features

Multi-layer Security: PoS decentralized network, TEE hardware reinforcement, and tens of thousands of light nodes supervise full nodes to prevent malicious behavior;

Ultra-high Throughput: Suitable for large-scale commercial applications, with performance close to traditional centralized servers, and capable of scaling to hundreds of thousands or even higher TPS through hardware and bandwidth upgrades;

Free Transfers: Users can transfer funds for free, suitable for micro-payments and other commercial scenarios;

Instant Settlements: Currently, 31 nodes complete the validation and signature for a single transaction in just 300 milliseconds, with no risk of transaction reversals or double spending;

Rich Support: Now supports 23 mainchains including BTC, ETH, EOS, XMR, and over 100,000 tokens;

Simplified Management: Single-account management of multi-chain assets greatly simplifies asset management for users and automatically supports future added public chains;

Transaction Privacy: Only the two parties involved in a transaction know about it; full nodes cannot determine the identities of the parties, meaning the transaction itself does not reveal the specific parties involved;

Ecosystem-Friendly: No permission required, easy integration, stable services, and predictable costs. Standard REST API interfaces enable developers to quickly implement products and businesses using any familiar language, with the added benefit of predictable costs for developing applications on the Mixin platform, much like AWS cloud services.

XIN - The Token

XIN is the sole token for all services in the Mixin network, used for staking by full nodes, developing DApps, and calling APIs. A minimum of 10,000 XIN must be staked to establish an initial credit for a Mixin full node.

To develop a DApp, a one-time payment of XIN is required, the amount determined by the network resources it will use. Similarly, when calling Mixin APIs, the quantity depends on the type and number of calls. All XIN collected by the Mixin network is burned to ensure a steady increase in the value of XIN. This means that DApp developers pay for using Mixin network services, while regular users do not (though they may pay for using the DApp).

Mixin issues a fixed supply of 1,000,000 XIN. For ease of calculation, the Mixin network uses milliXIN as its primary unit of account, abbreviated as MIX, with 1 MIX equaling one-thousandth of an XIN.

Related Links:

https://beex.zendesk.com/hc/en-us/articles/360035624112-Mixin-XIN-Project-Introduction
https://www.jianshu.com/p/a850b1821883
https://www.jianshu.com/p/9fb578da311f
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