Mixin Network Testnet By Ceo Cedric Fung
Beijing October 31th , 2018. Cedric Fung, the founder of Mixin Network introduced Mixin’s Testnet release, focusing mostly on the kernel and answering the community questions.
“Hey, I am Cedric Fung the founder and CEO of Mixin Network, as you might know the Testnet was released and I’m here to highlight the most important points and address all of the questions you have sent us through our social platforms.
First of all the Testnet released is the Kernel part of the white paper, people can join as a full node to sync and validate transactions as snapshots graph.
The domain interfaces and other mining reward details are not finalized in this release yet, and will be updated in upcoming months. And the final main net will be launched early next year.
We are already running these Testnet nodes in our private data center to provide service for the Mixin Messenger API and finally the Mixin Messenger API will be replaced by the public mainnet.
• So here is the first question: Can funds be frozen by the government at any time since we don’t hold private key?
Simply is no, nobody can freeze the funds because we actually hold our private key, presented in simple form 6 digit pin code
• Next one: Can we create token in MIXIN network in the future? like Ethereum.
No because Mixin network is a transaction network there is no smart contracts and our own token XIN is also an Ethereum token and will never be swapped by some native coin in the Mixin network main net.
• The Mixin messenger is using the phone number and pin as private key. In case that I am travelling and I lost my phone, and I cannot get a replacement sim card with the same phone number, is there a way for me to have access to my funds?
If you have lost your phone number, there is no way to access the funds right now. But we will provide a solution to this situation in future Messenger updates.
• Do you have any plan to add more crypto currency pair in Ocean One?
Ocean One has already supported all assets in Mixin Network. No need to add a specific currency to the exchange if the currency is already supported by Mixin Network.
• How does the xin holder get profit?Could you give us some example？except the xin token price raise.Thanks.
The XIN holders will get reward if they join the network as a light node when main net is online .
- What Is The Benefit Of Running Mixin Node, Other Than Receiving XIN Incentives?
For example if you withdrawal 1 BTC to another exchange, the Mixin Network charge you 0.0005 BTC as fee, but the actual transaction fee on Bitcoin network may be only 0.0001 BTC, the 0.0004 difference will also go to the node incentive pool.
Several campaigns are planned for Mixin Network Testnet.
There is a Developer bounty : producing on-line courses, debugging, developing dapps based on Mixin Network, developers can get XIN as a reward for their hard work. And An upcoming Developer Competition will be online soon. By submitting high-quality DApps in Mixin Network, developers can get XIN from Mixin Network. Almost 1000 XIN in total which is more than 100k usd will be distributed in this program.
Thank you for tuning in and talk to you later, bye guys.”
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