icon - Mina
$ 0.74400482
Volume 24h
Circulating supply
Change 24h
Graph (7d)
  • 81
    $ 0.74400482
    $ 652,110,720
    $ 23,714,459
    876,487,226 MINA
What is the Mina Protocol?
In order to run DApps more efficiently, Mina Protocol has been built. Mina is the world's lightest blockchain since it is designed to remain constant despite growth in usage. It is balanced in terms of security and decentralization.
To learn more about this project, check out our deep dive.
The Mina network has a small size of 22KB, which is not very large compared to the size of the block chain.

What is Mina Protocol's main goal?
Mina is working on a distributed payment system that will allow users to verify the platform right from the beginning.
Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk-SNARKs) is a proof used in the protocol. It can be difficult to trace the platform back to its origins in a large network.

The native currency of Mina is MINA, which is a utility coin and medium of exchange.

How does Mina Protocol work?
Mina uses the account model used in Ethereum, which is similar to how it handles transactions.
The difference between the states of the two criptoms is that the state of the criptom is made up of unspent coins, while the state of the criptom is made up of account balances.

The Ouroboros Samasika is a type of PoS mechanism that provides bootstrapping from a genesis block.
verify and update are two major functions of Succinct.
The project uses a parallel scanning state to improve transaction processing speed by grouping blocks and assigning the process to parallel provers.

Major Mina Protocol Participants
Mina is all about changing the current landscape of the internet with verifiers such as miners and light clients who act as third parties.

Mina uses multiple participants to handle a specific function on the network.

Verifiers, block producers and snarkers are the three major roles.

Verifiers are used. Verifiers interact with the consensus information.

The producers are called block producers.
Block producers earn block rewards and transaction fee payments by stakers or miners. Incentives that go to block producers are not slashed by the protocol.

If a block producer wants to incorporate 10 transactions on the chain, they need to trade from the front of the queue.


Snarkers are paid by block producers when they add new blocks. To qualify for the fees, they have to post bids.

Multiple snarkers can post bids for the same transaction. Block producers want to make money and will choose the lowest bid.

There are transactions on Mina.
The process begins with a transaction and ends with the mempool, a pool of valid but unconfirmed transactions.
Snarkers take over by making proof. After the selection of a block producer, transactions are bundled into a block.

The producer scans through the bids for the lowest price.
Next, it is time to add the block to the chain and update the network.
The block producer makes an upgrade to the protocol.
The new block becomes part of the chain.