Mixin Network Testnet Released, Overseas Community Building Officially Launched

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Mixin Network

4 min readSep 30, 2018

In the booming Blockchain scene, Bitcoin is not perfectly suitable. Its main issues include insufficient transaction capacity, slow confirmation, and high handling fees. Due to the highly distributed nature of Bitcoin network, it is not feasible to fix existing key issues. As a result, people tend to create new projects instead of constantly patching up the original Bitcoin project to solve these problems.

Current Challenges

Despite many projects like Ethereum, Monero, Stellar, Cardano have overcome some of the problems of Bitcoin and added some new features, but they didn’t solve the inconvenience of Bitcoin itself, and these projects cannot benefit from each other.

Mixin Network tackles Bitcoin’s issues as well as the interaction of other blockchain projects

Mixin Network is a simple UTXO transaction network, focused on transaction functionalities and privacy protection, which is composed of a single theoretically permanent Kernel, many dynamic Domains and different multipurpose Domain Extensions, to formulate an extended star topology. Kernel has a simple logic, it can achieve almost unlimited concurrency performance.

Besides solving Bitcoin’s inconvenient problems, Mixin Network is also supporting 12 blockchains including BTC, ETH, EOS, XRP, ETC, SC, BCH, LTC, DASH, Doge, ZEC and XEM. As a result, it supports transactions of over 40,000 cryptocurrencies, which let those projects benefit from each other.

Besides blockchain projects, as a next-generation transaction network, Mixin Network also provides transaction solutions for other non-blockchain projects.

In the next step, Mixin Network will support other top 50 blockchains in CoinMarketCap. Besides the blockchain, Mixin Network provides transaction solution for the instant transaction with the full-currency selection for developers, entrepreneurs, businesses and financial institutions.

Mixin Network is almost one year old. The team has reached one milestone after another. Now Mixin has its own DApp and decentralized exchange, supports 12 public chains, have several partnerships with 13 blockchain projects, traditional financial and business organizations.

Testnet Officially Launched

Now, we are going to announce another milestone. Our Testnet is officially launched today!

The Testnet has implemented the BFT-DAG transaction verification function, and the test performance reached 10,000+ TPS in 7 global nodes. All the transactions could complete the final irreversible confirmation in hundreds of milliseconds.

This proves that the high-performance BFT-DAG transaction network declared by Mixin Network in its Whitepaper is feasible.

With the release, anyone can now:

Deploy and verify the performance and Concurrency of the transaction network
Create Mixin Network test accounts
Send testnet XIN tokens

What are you not (yet) able to do with this testnet?

The Kernel validation full node requires 10,000 XIN pledge, and this function is not implemented in the testnet yet.

Mining policy is not finalized yet. For now, the mining reward for a full node is based on the snapshots count, its validation and its snapshots count is referenced by other nodes.

There is no verification of integrated TEE yet.

Those features will be released in the near future.

How to use the testnet and report issues?

You are welcome to verify our source code, the documentation is on Github. We welcome community members to join our Gitter and share about how to use Mixin Network Testnet.

Overseas Community Building Officially Launched

Based on statistics, we have over 4 million registered users over the network. Mixin Network is determined to provide the transaction network solution to global users. As the testnet is released, the project has officially started building its overseas community in order to introduce Mixin Network to the whole world.

Currently we have a very mature full-currency and exchange development plans. We welcome entrepreneurs, businesses and financial institutions to contact us.

For developers, you can refer to our social DApp ‘Mixin Messenger’ to develop a full-currency wallet for your business, you can also refer to our decentralized exchange OceanONE to develop your own exchange.

Our DApp OceanONE has been verified by SlowMist Technology for its security, it’s currently running a loophole bounty program. We will continue to announce incentive programs and competitions for developers.

Besides developers, other users are welcome to join our Social bounty program.

If you want to find out more information about Mixin Network or discuss technical problems with us, feel free to contact us through official channels below:

Mixin Network CEO Cedric Feng will join live broadcast to share about Mixin Network with our overseas community members. There will be surprises during the broadcast, please remember to tune in!

Conclusion:

Mixin Network is focused on the implementation of blockchain technology to bring more users into the blockchain world, and transaction is always the most effective way to achieve this goal. As the new-generation transaction network, we will continue to cooperate with industry peers and technical communities in the spirit of open source cooperation to jointly promote the development of blockchain technology and industry.