Introducing Mixin Network’s architecture and cross-chain technology
The Next Economy Conference 2018 held by COINJINJA in Tokyo, Japan On September 15th. Cedric Fung, founder and CEO of Mixin Network, was invited to the summit and delivered a keynote speech about: Better Lightning Network via PoS and DAG.
At the meeting, Mixin focused on how the Mixin Network architecture can achieve better lightning network. In the keynote speech, Cedric shares the same idea with Lightning Network to improve Bitcoin by moving transactions off the Bitcoin blockchain and onto the Mixin Network, which is a distributed ledger network powered by PoS and DAG.
Mixin is composed of a single theoretically permanent Kernel, many dynamic Domains and different multi- purpose Domain Extensions, to formulate an extended star topology.
Mixin Kernel is a high performance distributed ledger and its sole responsibility is to verify asset transactions. That said, the single permanent Mixin Kernel is also a distributed network just like Bitcoin network as a whole.
Although Mixin Kernel verifies asset transactions, it doesn’t produce any assets. All assets flow through the Kernel by Mixin Domains.
Each Mixin Domain is also a distributed ledger, whose job is providing assets to the Mixin Kernel. The assets may be those on Bitcoin, Ethereum or any other blockchains, or even central organizations like banks.
While each Mixin Domain is a component to provide assets for Mixin Kernel, the Kernel itself is also a component in the Mixin Domain to verify and govern its assets.
Unlike most existing gateway based solutions, Mixin Kernel and Domains are all public available distributed ledgers, with no central authorities.
From the Kernel to Domains, the Mixin Network is all about assets and transactions. The Mixin Domain Extension is where the magic happens, whether for Ethereum contracts, EOS contracts, a distributed exchange on somewhat trusted instances, or anything else.
We started this project from November 2017 and the network has processed about 100 million transactions, all transactions are free and confirmed within seconds. As this writing, the Mixin Network has a “huge” 1000 BTC capacity.
Similar to what Lighting Network is for the Bitcoin blockchain, Mixin is a public distributed ledger to allow any public distributed ledgers to gain trillions of TPS, sub second final confirmation, zero transaction fee, enhanced privacy and unlimited extensibility.
The summit aims to strengthen the exchange of global blockchain technology between developers and promote the development of global blockchain. Bringing together the world’s best blockchain developers and projects to prospect and advance the development of blockchain applications.
At present, many entrepreneurs of traditional projects have approached Mixin Network, and most of these entrepreneurs have more mature products. The Mixin Network will fully embrace developers and provide full support.
English Mixin Telegram: https://t.me/MixinCommunity
Mixin Network： https://github.com/MixinNetwork