About Mina Protocol (MINA)
Mina is an L1 blockchain utilizing zero-knowledge proofs (ZKP) with smart contracts coded in TypeScript. It distinguishes itself as the "world's lightest blockchain" due to its compact size (22KB), redefining the conventional resource-intensive blockchain structure.
Mina's primary objective is to democratize cryptocurrency access by reducing the computational demands of running a node and enhancing user privacy. Rather than passive followers, Mina encourages users to actively engage with the blockchain.
The Mina Protocol employs zero-knowledge proofs to craft a more efficient blockchain architecture. Unlike earlier blockchains like Bitcoin and Ethereum, which accumulate data and grow to hundreds of gigabytes, Mina maintains a constant size of approximately 22KB. It verifies the current consensus state using a single, recursive 22KB zero-knowledge proof, enabling swift synchronization and validation for network participants.
Mina's security relies on a Proof of Stake (PoS) consensus called Ouroboros Samisika, inspired by Cardano's Ouroboros. This PoS mechanism consumes significantly less computational power than Bitcoin's proof of work (PoW).
Mina's operational framework incorporates zk-SNARKs, enabling rapid validation of the current network state. The protocol enhaces decentralization, promoting full-chain verification for all internet users. This approach enhances interoperability and forms the basis for privacy-focused, verifiable smart contracts referred to as 'Snapps.'
Mina Protocol contributes to the broader decentralized landscape by constructing privacy-preserving applications (Snapps) and providing blockchain solutions aimed at broad accessibility and inclusivity.
MINA, the native cryptocurrency of the Mina Protocol, facilitates network transactions and fee distribution. MINA holders play a role in guiding the network's direction and governance, contributing to its long-term resilience and potential growth.
The price of MINA is available and updated in real time on Binance.
