$0.08196330

Mina Protocol is a layer-1 blockchain platform launched in 2017. It aims to tackle the problem of blockchains needing significant computing resources to validate transactions. Today, many nodes keep the full transaction history for verification, so the ledger continually expands with every new validated transaction. Mina Protocol addresses this with a lightweight approach that decentralized applications can run on, including on top of Bitcoin and Ethereum-like ecosystems. 

The network calls its design a “succinct blockchain” because of its very small footprint compared with other systems. Each block is set to a fixed size of 22KB. Zero-knowledge technology makes these smaller blocks practical. Using this approach, developers can build zkApps on the Mina Protocol. 

MINA is the protocol’s native cryptocurrency, with a total supply of 946,246,493. It functions as a utility token for network activity and also serves as a reward mechanism for participants that help secure the network.

What are Mina Protocol’s key features and how does it work?

Mina Protocol keeps its footprint small by relying on zk-technology, specifically zk-SNARKs. The system is made up of nodes that validate transactions. As nodes create new blocks, a SNARK proof is generated for each new block. These SNARK proofs also serve as verification for recently produced blocks, while remaining far smaller than storing the entire transaction history of the chain. This is because the proofs contain far less information than a complete ledger record, as is typical on many other chains. By storing these reduced proofs, nodes can keep the network decentralized while also maintaining a lightweight structure. 

With smaller block sizes, running a Mina Protocol node becomes easier, since transaction validation demands less computational power and can rely on less expensive hardware.

What can Mina Protocol be used for?

Like other blockchains, Mina Protocol supports building and deploying decentralized applications. Teams can create applications across a variety of areas, including DeFi, governance, social media, and more.

Where can you buy MINA?

MINA can be traded on the CEXs and DEXs shown here. Among the most widely used platforms with the highest liquidity are Binance, Huobi Global, MEXC Global, Gate.io, and CoinBase Pro. MINA’s trading price changes depending on the selected exchange and broader market conditions. For current and historical information on MINA market prices, please check the price charts on this page.