Mina (previously known as Coda Protocol) is a blockchain encryption protocol with a constant block size. The Mina protocol compresses the entire blockchain into a snapshot that’s about the size of a Twitter post. This means, regardless of how many transactions are executed, validating the blockchain remains efficient and accessible to everyone.
About the Project
Mina is one of the worlds lightest blockchains, creating a private gateway between the real world and cryptocurrency.
Project Advantages:
1. Lightweight Chain with High Throughput: Keeps the blockchain at a constant size, always around 22KB. Compresses validation data to reduce the amount of data needed to validate transactions, resulting in a lightweight protocol with fast network responses.
2. Easy Accessibility: Mina will build an ecosystem of applications based on zero-knowledge proof (SNARK) technology, called Snapps (SNARK-powered Apps). These can be used for scenarios like credit score verification, document verification, and balance verification. Unlike other blockchains, which require complex protocols and node confirmations, developers can use verified private real data from any website to build decentralized applications with Mina’s Snapps.
3. Decentralized with Full Nodes: In the Mina network, all nodes are full nodes, capable of receiving and validating zero-knowledge proofs. Mina’s design enables participants to engage in proof-of-stake consensus, achieving true decentralization.
4. Dedicated and Powerful Applications: Mina supports a new category of applications optimized for privacy and scalability.
5. Programmable Currency for Everyone: Participants can directly build tokens and interact with them without needing centralized wallets, exchanges, or intermediaries.