Mixin (XIN) Review : Coin Review : It Is Good Or Bad Review

About Mixin (XIN)

Mixin (XIN) Kernel is a high performance distributed ledger and its sole responsibility is to verify asset transactions. That said, the single permanent Kernel is also a distributed network just like Bitcoin network as a whole. Although Kernel verifies asset transactions, it doesn’t produce any assets. All assets flow through the Kernel by Domains. Each Domain is also a distributed ledger, whose job is providing assets to the Kernel. The assets may be those on Bitcoin, Ethereum or any other blockchains, or even central organizations like banks. While each Domain is a component to provide assets for Kernel, the Kernel itself is also a component in the Mixin Domain to verify and govern its assets.

Unlike most existing gateway based solutions, Kernel and Domains are all public available distributed ledgers, with no central authorities. From the Kernel to Domains, the Network is all about assets and transactions. The Domain Extension is where the magic happens, whether for Ethereum contracts, EOS contracts, a distributed exchange on somewhat trusted instances, or anything else

Mixin (XIN) Storage Key Points

Mixin Kernel

Mixin core of Mixin Network is the Kernel, a fast asynchronous Byzantine fault tolerant directed acyclic graph to handle unspent transaction outputs within limited Kernel Nodes.

Ghost Output

Mixin Kernel utilizes the UTXO model of Bitcoin to handle transactions, and CryptoNote[0] one time key derivation algorithm to improve privacy, since there is no address reuse issue. They call the one time key a Ghost Address and the output associated with it a Ghost Output. In the algorithm, each private user key is a pair (a, b) of two different elliptic curve keys, and the public user key is the pair (A, B) of two public elliptic curve keys derived from.

Asynchronous BFT Graph

Each Mixin Kernel Node is required to pledge 10,000 XIN, therefore due to the 500,000 XIN circulating supply[0], no more than 50 Kernel Nodes will exist. To prevent extremely centralized authority, the Kernel can only be booted with at least 7 Kernel Nodes.

Punitive PoS

Mixin Kernel node takes 10,000 XIN, which is approximate 2% of the network stake. The Kernel can only operate with at least 7 nodes joined, or about 15% of the whole network stake.

Trusted Execution Environment

Mixin Kernel is already an ABFT consensus DAG. To ensure further security, Kernel nodes must run in Trusted Execution Environment[1]. Specifically, Mixin uses Intel SGX[2] as the TEE implementation.

Light Witness

Mixin Light node is a simplified payment verification (SPV) node to Mixin Kernel. It typically stores all its unspent outputs for easy account balance query. If the Light node is a XIN holder, it has the chance to act as a Light Witness. The Light Witness will actively monitor the Mixin Kernel, and will be scheduled to vote automatically on the attacker appeals. The Light Witness vote is weighted on their XIN stake. And the vote is mostly on the attacker node’s network