TM Rating: 80% I
January 21st, 2021
Previously named Coda Protocol, Mina Protocol is known as the world’s lightest blockchain. It allows anyone to connect, sync, and verify the chain in seconds, which is totally different from what we are used to when running nodes of other heavier protocols. It manages to do so by using recursive zk-SNARKs, with no trusted setup, to ensure the blockchain will always remain the same size, 22kb. Mina Protocol’s approach is fascinating and tackles one of the big issues encountered with well known protocols that are leading the market currently.
Currently, in testnet, the platform allows the deployment of SNARK-powered smart contracts. The technology looks good and the project has been in the works for a long time now, but it needs a huge effort on community building or a killer app to attract developers and end users on it.