Why?

Mina Protocol is a lightweight, private and verifiable blockchain protocol. It aims to make DApps run more efficiently. Unlike existing blockchains, the Mina Protocol blockchain does not grow with each new transaction. Instead, each new blockchain state is compressed from the previous blockchain state. In this way, Mina Protocol's blockchain size is small and transaction and storage costs are low.

What is it for?

  • Provides faster and cheaper transactions using fewer resources: Since Mina Protocol's blockchain size is small, verifying and validating transactions is faster and cheaper. This allows DApps to run faster and users to pay less transaction fees.

  • Protects users' privacy: Mina Protocol protects users' privacy by using a cryptographic technique called zero-knowledge proofs. While zero-knowledge proofs allow a user to prove that they performed a transaction, they do not reveal the content of the transaction.

  • Makes it easy for anyone to verify transactions on the blockchain: Mina Protocol makes it easy for anyone to verify transactions on the blockchain using a cryptographic technique called snarks. Snarks are short, compact proofs that prove that transactions are mathematically correct.

How does it work?

  • Zero Knowledge Proofs: Used to protect the confidentiality of transactions. For example, a user might use a zero-knowledge proof to prove that they performed a transaction, but without revealing the content of the transaction.

  • Snarks: Used to keep the size of the blockchain small. Snarks are short, compact proofs that prove that transactions are mathematically correct. This prevents the size of the blockchain from growing and enables faster and cheaper transactions.

  • Recursive Zero Knowledge Proofs: Makes it easier for anyone to verify transactions on the blockchain. Recursive zero-knowledge proofs allow a user to prove that they performed an operation and that the operation is consistent with previous transactions.

Who Uses It?

  • Developers: They can use Mina Protocol to develop DApps. The lightweight and private nature of Mina Protocol enables DApps to be faster, cheaper and more secure.

  • Investors: They can support Mina Protocol by purchasing MINA tokens. MINA token is the native cryptocurrency of Mina Protocol. Token holders can participate in blockchain management and receive a share of transaction fees.

  • Users can: Enjoy the benefits of Mina Protocol using DApps. Mina Protocol's DApps are faster, cheaper and more private.

When was it founded?

Founded in 2017 by Evan Schwartz and others.

Additional Information:

  • Mina Protocol's blockchain is only 22 KB in size. This is 2.7 million times smaller than the size of the Bitcoin blockchain.

  • Mina Protocol is designed to balance privacy protection and decentralization.

  • Mina Protocol is still in development.

Mina Protocol is a new and exciting project that has the potential to make blockchain technology more efficient and accessible.