Mina header image

Mina

MINA

Crypto

Decentralised Networks

USD 0.58-4.65%

Mina
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About
Decentralised Networks
Category
Proof Of Stake
Consensus Mechanism
L1
L1/L2
Other
Sub-cateegory
n/a
Ecosystem
2021
Year of creation
Description

Mina (MINA) is a Decentralised Networks crypto coin. The coins can be earned through the process of staking and validating. Mina`s origin block was generated on 2021-03-02. More information can be found at https://minaprotocol.com/.



Key Technical Advantages:

Recursive zk-SNARKs: Mina Protocol uses recursive zk-SNARKs (zero-knowledge Succinct Non-Interactive Argument of Knowledge) to provide constant-time correctness-verification of a historical ledger. This allows users to verify the current state with just a small zk-SNARK, reducing the resource requirements for participants. Network Roles: Mina Protocol has three main network roles, each incentivized differently: Verifiers, Block Producers, and Snarkers. Verifiers can achieve full-node security by simply downloading a zk-SNARK, while Block Producers are responsible for adding transactions to blocks and generating SNARKs for them. Snarkers are network participants who produce zk-SNARKs that verify transactions and are compensated through fees. Incentive Design: Block Producers are incentivized by protocol distributions in the form of block rewards and network fees. Snarkers are compensated by posting fees called bids and receive payment when their SNARKs are used in a block. This creates a marketplace, the Snarketplace, where participants compete to produce the most cost-efficient zk-SNARK proofs. Censorship Resistance: Mina Protocol ensures censorship resistance similar to Bitcoin, as transactions can be included in a block by paying a high enough fee or waiting long enough. The protocol's design makes collusion among Snarkers difficult, maintaining the network's decentralized nature. Ouroboros Consensus: Mina Protocol uses the Ouroboros consensus algorithm, which relies on proof-of-stake and does not require slashing to incentivize participation. This allows for a more energy-efficient and decentralized network compared to proof-of-work-based systems like Bitcoin. Content summarized by AI chatbot

Source:

https://minaprotocol.com/docs
Key figures
-59.2%1Y
-82.3%3Y
-89.1%5Y
Performance
0/ 01D
1/ 01M
1/ 01Y
Highs/ Lows
30.08.2022
USD 6.15
All Time High
9.35%
% of All Time High
-94.35%All Time
-79.59%1 year
Max drawdown
#124
Ranking by Market Cap
709.44 M
Market cap (USD)
0.00%
% of Market
862.463 B
Category Market Cap (USD)
0.08%
% of Category
1206315005
Circulating Supply
1199916277
Liquid Supply
99.47%
Liquid/ Circulating Supply

N/A

Not Available Currently
Max Supply

N/A

Not Available Currently
Circulating/ Max Supply
45498761
Volume Traded
5.95%
Volume Traded/ Market Cap

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