How & Where to Buy Mixin (XIN)
Mixin Price & Information
Current XIN price and historical price chart
Why Should I Buy Mixin (XIN)?
What is Mixin?
Mixin is a next generation blockchain based multi-coin transaction platform that features free, lightning fast peer-to-peer transactions for a wide assortment of cryptocurrencies and digital assets. Its native currency, XIN, is an EOS-based token which is used to access features within the platform. All transaction processed through the Mixin network are free and confirmed within a matter of seconds. Mixin’s goal is not to create its own cryptocurrency but rather empower others by increasing the speed of their transactions, and thus is not a competitor to traditional coins in any way. Similar to bitcoin’s Lightning Network, Mixin allows any coin network to process a huge volume of transaction off-chain, with zero fees or confirmations required.
History of Mixin
The Mixin project began in November 2017 with the goal of speeding up sometimes lengthy transaction confirmation times as experienced by the likes of bitcoin. Its ICO was launched on the EOS platform, at a price of 1 XIN per 10 EOS. The ICO lasted for a period of 1 month, from November 25th to December 25th, 2017. In April 2018, XIN’s market capitalization briefly surpassed $600 million, making it one of the most successful cryptocurrency transaction processing platforms ever created. Since launch, the Mixin network has processed over 100 million transactions, all of which were free and confirmed in the period of a few seconds. As of the time of this writing, the Mixin network has a capacity of over 1000 BTC.
How Mixin Works
The Mixin network is composed of two primary components, the Mixin Kernel and Mixin Domains. The Mixin Kernel is a distributed ledger and its only responsibility is to verify the transactions of assets sent through its network for processing. There is one single, theoretically permanent Mixin Kernel which is a distributed network, just like any cryptocurrency network. The Mixin Kernel does not produce its own digital currency. The second component is Mixin Domains, each of which is also a distributed ledger, each one responsible of providing a certain type of digital asset (bitcoin, ether, DASH, etc.) to the Mixin Kernel. It can even send transactions from centralized organizations, such as banks, to the Mixin Kernel for processing.
Mixin varies tremendously from other cryptocurrency platforms in that it was not created to be a means of transactional value but rather to enhance the transactional capacities of other cryptocurrencies. In this way, it provides the following advantages over other blockchain-based platforms and businesses:
Free, lightning fast transactions. Once registered with their network, any cryptocurrency can use Mixin to act as a coordinator for their transactions, which are cost-free and performed within a matter of seconds after initiation.
High scalability. By moving transactions off-chain and processing them through their own network, Mixin can increase the transactional capacity of any cryptocurrency network compatible with its services by thousands of times, potentially capable of handling trillions of transactions per second.
Highly secure. Using a Proof of Stake model combined with CryptoNote’s anonymity features, the Mixin Kernel and Domain structures can provide secured, high performance transactions by implementing non-reusable addresses during their transaction procedure.