Introduction

Prior to the coming of the blockchain era, the management of values and assets has majorly been taking place on a centralized basis. Blockchain innovation opened our eyes to a whole new perspective and approach in handling and processing assets, taking away control power from the principalities of the centralized system and handing it down to individuals themselves. The elimination of the central controlling power was a very significant aspect of the innovation and contributed in the appeal to users and investors who have chosen to flock into the industry in their drones.
With the Blockchain introduction, the Bitcoin cryptocurrency was launched as well. Bitcoin tried to utilize the features of the blockchain technology to afford users an opportunity to handle transactions in a more effective way and manner. The truth however is that despite the laudable features and qualities of the Bitcoin platform, there yet are several challenges being experienced that cause a drag to the quality of services being offered. This is due to some operational issues such as inability of the network to compensate for the high influx rate and a terrible delay in affirming and validating transactions and the likes.

THE MIXIN NETWORK TOPOLOGY

For the Mixin network, there are three crucial aspects of the network architecture which include the Kernels, the Domains and the Domain extensions. For this particular platform, we are having only one single Kernel that’s made to be somewhat permanent, a couple of domains which are not fixed in nature and several multiple domain extension scattered about. The beauty of this entire setup is that they are all linked together and of a decentralized form. There might be fears that from the nature of this topology the kernel might resemble a centralized format, but that isn’t the case. As with all decentralized systems, the Kernel and its accompanying associates are all distributed systems. This on its own is a key feature of the Bitcoin platform itself.

PROOF OF STAKE AND HOW THEY HANDLE COMPROMISE

The Mixin Kernel operates using nodes which handle the tokens. In some cases, there might be attempts to compromise the network by compromising a single node. When it is suspected that a node might have been compromised, confirmatory measures and deployed. Once confirmation has been attained, the node is rightly labeled as an attacker. When that happens, the assets earlier assigned to that node would be retrieved and returned to the general mining pool. What would lead to this labelling would be any attempt by any node to send out information that does not tally with that which a majority of other nodes are sending out.

EXTRA SECURITY USING THE T.E.E PROTOCOL

The TEE stands for Trusted Execution Environment and is environment within which the nodes of the Mixin Kernel must operate. This is to ensure added security to the platform. He TEE [protocol involves some key principles which include: Ensuring that all nodes have to operate using the exact ruleset replica and they must all be of a consensus nature. Despite the fact there are multiple control being exerted on the kernel from the nodes, the trust of the Kernel is not compromised. And finally, all communication activities entered into by the domains are of a very secure form.

THE XIN TOKEN

For circulation, service and decentralization application services, the XIN token is being employed on the platform. For each new node to be accepted into the network, there needs to be a deposit of tokens to serve as down payment and initialization of trust. The tokens would be in the tune of ten thousand (10,000) tokens.

CONCLUSION

Having established that the solution for the Bitcoin platform does not lie in just establishing a whole new platform but rather in implementing principles and protocols that can work concurrently and hand in hand with the already established Bitcoin platform. This is the basis of the Mixin Network project.

Website: https://mixin.one/
WhitePaper: https://mixin.one/assets/Mixin-Draft-2018-07-01.pdf
ANN Thread: 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/

Writer details
Bitcointalk username. Prudent24
Btt url. https://bitcointalk.org/index.php?action=profile;u=2313831