Mina Protocol (MINA) - blockchain and cryptocurrency like a feather

Not yet a year has passed since the debut on the largest cryptocurrency exchanges, a Mina's token is already worth $ 1,5 billion. How did one of the lightest distributed registers charm the market? Is it just starting to grow or is it already sufficiently appreciated by investors and is it better to be cautious about it? We check.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Mine Protocol - blockchain, which was already worth USD 600 million on its debut, and those who assumed then that it was an overestimated would be wrong. 

What is Mina Protocol (MINA)

Mina Protocol is a response to one of the biggest problems of the blockchain market, i.e. low scalability. As interest in cryptocurrencies grows and they are used more and more for daily payments, network bandwidth problems are also growing. The problem is that most blockchains, such as Bitcoin, weighs up to 300 GB. Meanwhile, the Mina protocol is advertised in this group with a weight of around 22 KB. This must impress even those for whom these values ​​are quite abstract and tell them little. 

"Mina is building a gateway to protect the privacy between the real world and cryptocurrencies - and the infrastructure for a secure, democratic future that we all deserve." - we can read in the description of the project on its official website.

But it's not just an advertising slogan. It is followed by specific solutions that make Mina more and more popular blockchainem, and the token based on it is gaining not only in popularity, but also in value.

Why? The first advantage is, of course, the lightness of the chain. Mina doesn't need to use intermediaries to activate nodes. Despite this, their power does not decrease and they can work as efficiently as in other cryptocurrencies. This allows you to quickly connect to the blockchain on an P2P, thanks to the rapid synchronization and verification of the blockchain. Access to the blockchain is unchanged all the time, regardless of the number of inquiries in the network.

However, Mina Protocol chain synchronization allows much more. In fact, it is sufficient for verifying transactions in the same way as full nodes. 

Of course, decentralized applications also run on the Mina Protocol blockchain. They are based on snark (snapps), thanks to which both sides of the transaction are automatically checked not only on the basis of the data sent, but also their past. Most of the calculations and logical checks take place outside the main blockchain, hence there are no problems with its scalability. It also significantly lowers transaction costs.

Internet access? No problem

Most blockchains do not allow a direct connection to the internet for security reasons. Because of this, many applications cannot be fully utilized and lose much of their value. Mina has no problems with this thanks to Snapps, which allow access to verified data and content from public websites. This changes a lot, because it allows you to use, for example, the latest codes that can be implemented into your IT solutions. 

Also thanks to this, more and more users are gathering around Mina Protocol, but also developers who see the potential in its development.

“Our community unites people around the world with a passion for a decentralized blockchain. In fact, we have one of the largest and most active communities of any project launched in the last two years. " - convince the creators of the project. 

And it must be admitted that these are not exaggerated words. The whole thing is managed by the fund Three Arrows Capitalwho invested, inter alia, in Ethereum (ETH) i Polkadot (DOT) but also Aave, Synthetic (SNX) and KeeperDAO (ROOK).

Mina Cryptocurrency Quote

Blockchain Mina Protocol is based on the Mina cryptocurrency, a network fee that can be traded on 9 cryptocurrency exchanges from around the world. Along with its development, the interest in tokens also grows. As of October 26, 2021, 275 of the target 253 tokens are traded, valued at $ 816 apiece. This translates into a capitalization of USD 865 billion. The peak of trading was September 198, 253, when you had to pay $ 5,36 for each Mina token.