Bitcoin Global News (BGN)
August 02, 2018 -- ADVFN Crypto NewsWire -- If you’ve been
looking at the Crypto market’s gainers and losers over the last few
weeks, then you may have noticed that most projects fall under the
category of being short-term losers.
At the same time, you may have also
seen that several new projects have been rising closer to the
top.
One of these aspiring big players
is Mixin (XIN). Since April of this
year, they’ve actually been quite reliable in terms of being a
short-term winner.
Due to the fact that their
marketing has not been as aggressive as other projects like
the Tron Network, what Mixin is and
what it plans to do might be unclear at this time.
Essentially, the key vision for
Mixin is for it to be the Blockchain platform of choice for
Cryptocurrency enthusiasts who want to experience instant, and yet
highly secure, Crypto transactions.
With this in mind, their
competition is already quite thick and includes heavy hitters
like PIVX and DASH, among a
multitude of others.
At the same time, Mixin also
aspires to be the Directed Acyclic
Graph version of the Ethereum network, with a few,
possibly, unique twists including reportedly eventually including a
crowdfunding platform and having the capability of doing “coin
shuffling.”
If you don’t already know, in the
context of the Blockchain world, coin shuffling is a feature
that theoretically enhances the privacy of the average Crypto user
by running transactions as they should be run, while at the same
time making it look like user funds are traveling through so many
accounts that they are basically impossible to track.
If this sounds similar to what PIVX
and Monero, among others are touting as their differentiators, that
is because it is. In connection with this, the Nxt Network, which
is currently ranked at number 94 on Coinmarketcap, is actually
using the same feature in what appears to be the same exact
way.
When you add this to the fact that
Mixin is not literally running on Blockchain tech, which it has
rejected in favor of DAGs, the same tech that runs the IOTA
network, then the question becomes: is it as secure as the current
big players in the space?
The easy answer is not
yet.
Given that they have also tried to
get into Telegram’s niche with
Blockchain-backed, encrypted messaging, as well as the e-voting
niche, in which Aragon is effectively
trying to be the first mover, it begins to appear more and more as
if Mixin has spread its resources far too thinly.
As of now, the reasonable course of
action would be to hold off on jumping into this project, despite
its interesting statement of value at over $400 a coin. Wait until Mixin decides
exactly what it wants to be and sticks to one principal area, for
the foreseeable future.
By: BGN Editorial Staff
News:
Mixin (XIN)
Cryptocurrency