Mina (MINA)
What is Mina?
Mina is, as its developers call it, a succinct blockchain. The size of the entire ledger is 22kB, unlike the hundreds of GB for blockchains like Bitcoin or Ethereum. This is achieved using a protocol where the whole chain is concentrated in the last few blocks. Mina also allows for the development of decentralized applications called Snapps.
Why does Mina have value?
By drastically reducing the size of the blockchain, Mina ensures every user can store a full node, which is the way Bitcoin was meant to work in the beginning. This increases network decentralization, because every node can verify the state of the blockchain, instead of relying on third parties. Mina can be used as a payment method and as a platform for decentralized application and also rewards stakers of MINA.
What are the Pros of Mina?
● Any person can run a full node.
● The protocol offers staking benefits.
● The network is decentralized and scalable.
What are the Cons of Mina?
● There are not many applications built on it.
What are MINA’s tokenomics?
The initial supply of MINA was 1 billion. However, this figure increases with inflation, set at 12% per year. The percentage will reduce gradually, according to community governance.
Who founded Mina?
Evan Shapiro and Izaak Meckler, through O(1) Labs.
Who are Mina’s investors?
Mina has conducted 4 funding rounds, including an ICO, raising $44.7 million. Its main investors are Coinbase Ventures, Paradigm, General Catalyst, Bixin Ventures, Three Arrows Capital, High Naut Capital, and Accomplice.
Concise Crypto Grade:
B :We like Mina’s technology in that it allows very nearly anyone to run a node and contribute to the decentralization of the network. More leading layer 1 blockchains need to utilize, or allow for, similar structures. The one downside to Mina as we noted in the ‘cons’ section is that there just isn’t that many Dapps built on the chain yet. As the competition for developer resources and killer Dapps continues Mina needs to show improvement in the applications being built on its chain.
Where can I buy MINA?
Binance, Gate.io, Kraken, Coinlist Pro, OKEx.
What ecosystem does Mina run on?
Mina