Mixin – The Mobile Cryptocurrency Payments App
What is Mixin? In object-oriented programming languages, a Mixin is a class that contains methods for use by other classes without having to be the parent class of those other classes. … Mixins are sometimes described as being “included” rather than “inherited”.
Mixin is a mobile app which will allows people to transfer cryptocurrencies and tokens between each other privately via an encrypted blockchain.
Mixin will allow super fast, lightening swaps of any cryptocurrency between two interested parties.
Although, at the moment, it Mixin is allowing only 40 Transacations Per Second (TPS). That is because DAGs receive higher throughput with higher adoption of the network.
So, Bob could send Bitcoin to Alice or swap his Bitcoin for Alice’s Ethereum via his smartphone. The idea is to connect all the crypto blockchains and allow super fast swaps via it’s Byzantine Fault Tolerant Directed Acyclic Graph (DAG) distributed ledger.
Mixin may well lead the future of mobile cryptocurrency payments. Much in the way MPesa in Africa and Paytm in India transformed their economies with mobile payments, Mixin may revolutionise the world with lightening fast cryptocurrency mobile to mobile payments.
The BFT DAG blockchain allows millions of transactions per second (TPS). At the moment, Mixin is still in its infancy, like many cryptocurrency projects and you cannot send cryptocurrencies, only upload them and chat with friends in its messenger, but you can download the app to check it out. This is definitely a project to keep your eye on.
It uses a mobile phone number and pin security for ease of use. Many people can get confused with so many private keys from different blockchains and Mixin may be the antidote, making it easier to send cryptocurrencies with just a phone verification code and pin number.
This probably means instead of remembering all the private keys of several cryptocurrencies, you can just transfer your altcoins through the Mixin mobile payment network via a verification code and pin.
The ultimate aim is to enable users to develop and curate cross-chain decentralized applications (dApps).
The Mixin App
At the moment, you can only upload your cryptocurrencies, not send them and only these wallets are supported, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, Ripple and Sia Coin.
The Chief Operating Officer of Mixin, Danny Lee, recently announced that Mixin,a distributed instant messaging and digital asset mobile payment terminal will be collaborating with City Express Money, an instant messaging payment system in Nepal.
City Pay is a digital mobile to mobile payments system for Nepalese with transfers available to 15 countries around the world, with over 5,500 payment points and cash pick up locations all around Nepal.
According to Mahesh Kumar Shrestha, director of City Express Money Transfer, the mobile payments industry in Nepal is in desperate need of an upgrade: 28.2% of the nearly $20 billion GDP generated every year is used for cross-border payments to overseas workers. Mobile payments would be more convenient for the Nepalese.
The collaboration aims to solve Nepalese regulatory issues involved with account opening, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) policies in Nepal.
The Mixin Messenger
The Mixin Messenger has many features such as live chat which is encrypted end to end for private conversations, QR code payment for accepting e-cash payments, cryptocurrency top up and withdrawal services in over 5,500 city branches in Nepal. It transfers cryptocurrencies with an end to end encryption.
This means only the recipient can see the messages. Furthermore, all of the messages will be deleted once all of the recipients have seen it.
Media files like photos and videos will be encrypted with an AES key before it’s uploaded to their cloud storage.
At the moment, you can only load up the Mixin app with cryptocurrencies and withdraw in Nepal, but I expect more partnerships to materialise as the app is developed. Eventually, you will be able to swap cryptocurrencies, send cryptocurrencies and pay with cryptocurrencies as well.
Mixin Coins – The Mixin Cryptocurrency
The Mixin coin is XIN and is currently only available on the Big One exchange. XIN dropped 40% on June 13th, 2018. As this project is still under development, investment is ultra high risk.
Cryptocurrency & Blockchain Enthusiast | Licenced and Regulated Investment Manager
Cryptocurrency trading is highly speculative. The long term outcome is unknown. Any information contained in articles is for educational purposes only and is not investment advice. Please consult with a financial adviser before making any trading decisions.