Summary of 2020 Mixin Node Alternate Information

Mixin Network full nodes will be forced to exit once a year, while the pledge will be recalculated according to the circulation of the previous year. Nodes could apply to rejoin as soon as they increase or decrease the pledge.

·Start time: 2020 / 02 / 28 / 9: 00 p.m. UCT+8

·Number of pledge: 11000 XIN.

·Mining Pool remaining: 455000 XIN.

·Mining incentive: 45500 XIN.

·Alternate order: by time and name.

·Alternate time: 24h～48h/node ，full rotation：1 month +

·Number of nodes: 32 full nodes before node alternation

1. Current node information

For more information: https://mixin.network

2. Node alternate process:

Step 0: The node raises an additional 1000 XIN in advance for new mortgages.

Step 1: The node waits for the passive exit.

Step 2: It should wait for 12 hours after the node exiting.

Step 3: The node apply for join after increase the pledge.

Step 4: Join successfully after 12 hours of the node application.

Just waiting for an automatic exit if nodes don’t continue running.

3. FAQ

• What do I need to do when the nodes alternate if I participated in the co-construction node?

Please pay attention to the announcements of your node team. You can wait or do nothing if your team continues to operate, and you will not change another node to join.

• Why is there less earning after the node alternation, although the nodes’ number not increasing?

Less remaining on mining pool，less distribution for each node. Mining benefit the 10% of the remaining pool every year, for example, 10% is 50000 XIN in the first year, then 45000 XIN in the following year.

• What is the difference between an active exit and a passive exit?

It will be deducting 1% of the XIN pledge as a handling fee for an active exit, but no deduction for a passive exit. The handling fee will be recycled to the mining pool.

• Will Mixin Network stop running when the node is alternating?

No, because there is only one node exits or joins every 24 hours according to the Network rules.

• Why doesn’t Mixin use DPoS which is safer for ordinary users lock up the vote?

DPoS can not avoid the problem of vote bribery, users could vote casually anyway, there is no risk, and this is not conducive to the network security. The purpose of choosing PoS is to ensure safety, as there’s a large number of assets stored in the network. Assets security is a priority. Every user needs to handle the selecting node with kid gloves, to choose the truly responsible and capable nodes. Every user should be attentively and spend money to participate in it.

• Do you have any suggestions for participating in the common node?

If ordinary users want to participate in the common node, it is essentially a partnership to start a company. You need to have a deep understanding of the team background and choose a team with better credibility, stronger strength, and more secure asset management solutions. For example, you can use multi-signature technology solutions to manage node assets.

• Why is the rate of benefit different between joint nodes?

Different team has different hardware、personnel and bandwidth costs，so, normally, it exists little difference between each node.

• Do you have any information about light nodes? When will the light node be launched?

The main purpose of the light node is to monitor the full node ledger the assets transaction and scheduled to vote automatically. Light node also required pledge XIN to get profit. Please refer to the white paper for details. It may be launched after more than half a year until all assets are spread to the main network.

• Are the nodes too centralized? BigONE has seven nodes.

BigONE’s seven nodes are all co-built nodes, and the participants are platform users. If the platform attacks the node, the users will no longer use the exchange.

• Mixin team promised to exit all their node, will it come into force by this time?

Yes, Mixin Team will not handle any node after this alternation.

• Does the concentrated and intensive alternation of nodes have an impact on the stability of the MainNet?

There is no problem theoretically because of the 24-hour limitation （only one node can exit or join for 24hours), but it is still a test for the mainnet.

• Is there a plan to consider quitting automatically after one year according to the date on which the node joins?

Not for the time being.