MINA Protocol is a minimal succinct blockchain built to curtail computational requirements in order to run the DApps more efficiently. It has been described as the world’s lightest blockchain since its size is designed to remain constant despite growth in usage.
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Why is MINA Protocol Better than Others
- Unlike first-generation blockchains, such as Bitcoin or Ethereum, with heavy chains, Mina uses a chain that is, and always will be, 22 kb so participants can sync the entire chain in seconds.
- The deployment of this mathematical proof is what allows Mina to scale while retaining the highest levels of resiliency, privacy, and security while not compromising decentralization.
- Mina is also the first production system to implement a recursive zk-SNARK with no trusted setup, an achievement that has advanced the entire blockchain ecosystem.
Reasons For Further Growth Of MINA Protocol
Labs previously raised a $3.5 million seed round in May 2018, followed by a $15 million Series A in April 2019 from leading investors including Polychain, Paradigm and Coinbase Ventures.
Labs’ lightweight blockchain project Mina, formerly known as Coda Protocol, has raised $10.9 million in a funding round co-led by Hong Kong-based Bixin Ventures and Singapore-based Three Arrows Capital.
Mina’s lightweight design, it only takes 22kb to store a copy of the Mina blockchain thanks to its reliance on zk-SNARKs is meant to foster widespread adoption.
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