Mina

What’s Mina?

Mina Protocol stands out as a groundbreaking “succinct blockchain,” meticulously designed to streamline computational requirements, thereby enhancing the efficiency of running DApps. Recognized as the lightest blockchain, Mina maintains a constant size regardless of usage growth, a remarkable feat in the space. Notably, it strikes a delicate balance between robust security and decentralization, ensuring its integrity. Originally known as Coda Protocol, the project rebranded in October 2020, emerging as Mina to reflect its evolving identity and vision. At a mere 22 KB, Mina dwarfs even Bitcoin’s colossal 300 GB blockchain, showcasing its unparalleled efficiency and scalability. Built on zk-proofs and featuring smart contracts coded in TypeScript, Mina represents a pioneering leap in blockchain, offering a promising glimpse into the future of decentralized ecosystems.

Who Are the Founders of Mina?

Mina Protocol traces its origins back to the innovative minds of Evan Shapiro and Izaak Meckler. Their visionary goal was to harness the power of cryptographic computing to empower individuals with control over their digital lives, laying the foundation for Mina’s revolutionary blockchain technology. Evan Shapiro, the CEO of Mina Protocol, brings a wealth of experience that is coupled with a profound understanding of verifiable computation. After graduating from Carnegie Mellon with a BS in computer science and later earning his research MS, Evan has demonstrated his expertise in zk-SNARKs, positioning him as a prominent figure in the industry.

What Makes Mina Unique?

Mina Protocol stands out for its innovative approach to blockchain architecture, leveraging zk-proofs to redefine scalability and efficiency. Unlike traditional blockchains like Bitcoin and Ethereum, which accumulate data over time and balloon to hundreds of gigabytes in size, Mina maintains a constant size of about 22KB, equivalent to just a few tweets. This unique characteristic enables quick syncing and verification of the network’s consensus state, thanks to a single, recursive 22KB ZKP. By harnessing zk-SNARKs, Mina ensures that users can authenticate information without revealing sensitive data. Moreover, Mina’s consensus mechanism, Ouroboros Samasika, based on Cardano’s Ouroboros, employs PoS to secure the network without the need for energy-intensive mining equipment. Participants can stake  $MINA to actively contribute or delegate their stakes to other nodes, promoting decentralization and accessibility. At its core, $MINA serves as a utility coin, underpinning the platform’s ecosystem and facilitating seamless transactions within the network.

How Many Coins Are There in Circulation?

At the time of writing, the circulating supply of MINA  stands at 1,094,714,574 coins, with a market cap of $891,595,158. This figure reflects the total number of MINA actively trading. Although MINA’s value has dipped from its ATH of $9.09 recorded on Jun 01, 2021, marking a 91.05% decrease. It has also surged significantly up to $0.3513 on Oct 11, 2023, representing a remarkable 131.52% increase.

How Is the Mina Network Secured?

Mina Protocol’s transaction process diverges from traditional models, blending Bitcoin and Ethereum elements while introducing novel mechanisms. It employs a prover to ensure block accuracy, utilizing Ouroboros Samasika, a PoS mechanism. Mina’s architecture features succinct blockchains for efficient verification. Transaction speed is optimized through parallel scan state implementation. Verifiers use zk-SNARKS for consensus, while block producers bundle transactions with SNARKS for integrity. Snarkers produce low-cost SNARKS, enriching the ecosystem.

Where Can You Buy Mina (MINA)?

Leading cryptocurrency exchanges like Binance, Bitcoiva, OKX, LBank, and CoinW offer seamless trading for Mina tokens at competitive rates. Other exchanges listed on crypto exchange pages also provide avenues for purchasing Mina, catering to diverse preferences and locations. These platforms provide accessible access to Mina for both seasoned traders and newcomers, enabling participation in the dynamic market.

What’s next on Mina?

Mina is embarking on ambitious developments, including trust minimization to enhance protocol reliability, ZK programmability for privacy, optimizing Settlement Layer performance, creating Minaverse for community engagement, and decentralization via its DAOfication project. Explore the interactive Mina Multi-Year Roadmap for details.