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What is Mixin(XIN)?

August 2, 2018

 

If you’ve been looking at the Crypto market’s gainers and losers over the last few weeks, then you may have noticed that most projects fall under the category of being short-term losers.

 

At the same time, you may have also seen that several new projects have been rising closer to the top.

 

One of these aspiring big players is Mixin (XIN). Since April of this year, they’ve actually been quite reliable in terms of being a short-term winner.

 

Due to the fact that their marketing has not been as aggressive as other projects like the Tron Network, what Mixin is and what it plans to do might be unclear at this time.

 

Essentially, the key vision for Mixin is for it to be the Blockchain platform of choice for Cryptocurrency enthusiasts who want to experience instant, and yet highly secure, Crypto transactions.

 

With this in mind, their competition is already quite thick and includes heavy hitters like PIVX and DASH, among a multitude of others.

 

At the same time, Mixin also aspires to be the Directed Acyclic Graph version of the Ethereum network, with a few, possibly, unique twists including reportedly eventually including a crowdfunding platform and having the capability of doing “coin shuffling.”

 

If you don’t already know, in the context of the Blockchain world, coin shuffling is a feature that theoretically enhances the privacy of the average Crypto user by running transactions as they should be run, while at the same time making it look like user funds are traveling through so many accounts that they are basically impossible to track.

 

If this sounds similar to what PIVX and Monero, among others are touting as their differentiators, that is because it is. In connection with this, the Nxt Network, which is currently ranked at number 94 on Coinmarketcap, is actually using the same feature in what appears to be the same exact way.

 

When you add this to the fact that Mixin is not literally running on Blockchain tech, which it has rejected in favor of DAGs, the same tech that runs the IOTA network, then the question becomes: is it as secure as the current big players in the space?

 

The easy answer is not yet.

 

Given that they have also tried to get into Telegram’s niche with Blockchain-backed, encrypted messaging, as well as the e-voting niche, in which Aragon is effectively trying to be the first mover, it begins to appear more and more as if Mixin has spread its resources far too thinly.

 

As of now, the reasonable course of action would be to hold off on jumping into this project, despite its interesting statement of value at over $400 a coin. Wait until Mixin decides exactly what it wants to be and sticks to one principal area, for the foreseeable future.

 

 

By: BGN Editorial Staff

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