XIN cryptocurrency is part of the Mixin cryptocurrency project. It was developed specifically to solve the problems existing within the cryptocurrency industry. Mainly, the authors of Mixin focus on new software tools that can significantly increase the speed of financial transactions with crypto and make such transactions more secure. The authors of Mixin are going to implement their ideas by introducing a new cross-chain technology, which will make it possible to combine various technical solutions and functions of other cryptocurrency platforms within one crypto platform.
Features and characteristics of the Mixin cryptocurrency
The authors of the cryptocurrency platform were initially going to offer the market special software tools that would improve the operation of the crypto market by accelerating it and increasing the security indicators of transactions carried out within the crypto network. Also, the developers of this crypto project are trying to simplify the algorithm of user interaction with the crypt. In addition, not all participants in the crypto market have a personal computer that can handle the calculations required to ensure the normal operation of crypto wallets.
The Mixin project can also be used for messaging by analogy with modern instant messengers. All messages received by users will be automatically deleted after reading. At the same time, media files uploaded to the Mixin cloud storage undergo a complex encryption procedure to prevent third parties from gaining access to them. Only the recipient or the sender can access media files.
It is worth noting that the Mixin crypto project works based on two software algorithms DAG and BTF, which are responsible for ensuring the operation of the blockchain of the crypto platform. The technical potential of the platform makes it possible to use smart contracts if necessary. In addition, platform participants can create DApps for their further use in third-party blockchain projects.
As for the mining of this asset through cryptocurrency pools (pools), it is worth noting that Mixin mining is impossible. So there is no information yet on how to mine XIN on Nvidia and other hardware. The creators of the token initially released a million tokens on the market.
Advantages of the Mixin cryptocurrency
The Mixin cryptocurrency and its parent platform of the same name have many advantages that allow this token to stand out from other similar crypto assets.
The main advantages of Mixin and the Xin token include:
- the use of new technologies to find a balance between distributed payment clusters and traditional technologies for accepting payments and exchanging financial resources;
- using the advantages of cryptocurrency and fiat money to create a unique digital financial ecosystem, characterized by high levels of security and reliability;
- preservation of the sequence of the transmitted information and the openness of the structure of the crypto network;
- using a zero-knowledge proof algorithm;
- no commission fees for financial transactions;
- high speed of processing and confirmation of transactions, regardless of their size;
- introduction of an improved interblock communication protocol to ensure the possibility of joining the most popular types of blockchains to the project structure;
- within the crypto network, transactions are non-deterministic. At the same time, the platform interacts only with trusted sources;
- user authorization is carried out by entering the PIN code sent to the phone number linked to the user account;
- the exchange of messages between the participants of the crypto network takes place within an encrypted channel;
- developers have access to convenient and versatile Linux tools to help ease the process of building decentralized applications.
Thanks to the listed positive aspects of the crypto project, it will have to quickly attract the attention of investors and ordinary users, which, in turn, will ensure stable growth in the value of XIN.
Disadvantages of the Mixin cryptocurrency
In addition to mentioned advantages, the Mixin cryptocurrency has the following disadvantages:
- lack of factual information about the technical component of the project and about the identity of the developers, which leads to the emergence of various rumors and doubts about the future fate of the project on the part of ordinary users;
- there is no contact information on the official website of Mixin Limited, the developer of the Mixin project. For this reason, no one can even find out the location of the office of a commercial organization. Also, there is no data on the developers of the coin and the people acting as consultants. Due to the lack of any information about the developers and the company Mixin Limited, investors will not invest significant funds in the development of XIN;
- lack of technical information about the token. On the network and the official web resources of the project, one cannot find any mentions that the crypto-coin operates based on the SHA-256 software algorithm, as well as that the coin belongs to the ERC20 standard cryptocurrencies. In addition, the cryptocurrency is built on top of the EOS platform;
- using a weird master node cryptosystem;
- lack of a well-developed roadmap.
The prospect of the XIN cryptocurrency, of course, will largely depend on the listed shortcomings, as well as on how quickly and efficiently the authors of the project will be able to eliminate the existing problems.
