As of this morning, trading has started for MINA, the token behind one of the most anticipated blockchain projects of the last few years: the MINA protocol. If you haven’t heard of it yet, today we will explain why MINA has the potential to become one of the best blockchains in the world! First of all, we must specify that the strength of MINA is that its weight is millions of times less than all other blockchains, since we are talking about only 22 kilobytes (fixed)! You got that right! Even though Bitcoin, Ethereum and other blockchains have accustomed us to hundreds of GB or even TB of data, Mina will always have a super small size of only 22 kilobytes. For comparison, this weight corresponds to a few lines of notepad text! A picture taken with the latest iPhone can weigh 300-500 times more than Mina’s entire blockchain! Formidable, isn’t it?
Mina Protocol – The foundation and the idea
The Mina Foundation is a non-profit foundation, founded and run by a first-class team. Key members include the former executive director of ZCash, Josh Cincinnati, Jill Carlson of Slow Ventures and Tess Rinearson of interchain GMBH. The resources available will be used for the good of the protocol as the foundation will issue grants to entities and individuals working to improve the platform. Mina’s slogan is simple and straightforward: The world’s lightest blockchain, powered by participants. What does it mean? Simply that its weight will not go up and scaling will be possible thanks to new participants who will be incentivized to be validators and keep the network secure.
The famous applications on blockchain, usually called dApps, will have a different name on Mina, namely Snapps. These Snapps are SNARK-powered applications but are currently disabled, so they will follow later. Snapps are an improved and optimized version of dApps, as they have different features such as: Dapps + Privacy + Off-Chain Data + Scalability! In short, everything that devs need to create perfect decentralized applications.
Looking at the numbers it becomes clear right away that Mina is a protocol destined to be in the top 20-30 on the various data crypto sites (CoinGecko, CoinMarketCap etc). In just a few years, Mina has managed to gather more than 2000 users in the testnet phase, more than 100,000 followers on various social media, more than 650 members in the foundation with its own node, customers from over 100 countries around the world speaking more than 15 languages and an astronomical sale on CoinList that has seen unprecedented interest, as 350,000 people have requested to participate in the pre-sale, exceeding the previously estimated number by almost 9 times! Definitely a product to keep among your favourites!
The Mina token from Mina Protocol
MINA’s maximum supply is 826,064,812 tokens, while the circulating amount is approximately $150 million. Interest in the MINA token has been sky high since the pre-sale, driving the fully diluted market cap to already frighteningly high prices. The token is now at $3.47, so the marketcap is already over half a billion dollars, while the fully diluted marketcap is over $2 billion. Obviously, even if these numbers are very high, the project has great ambitions and would like to compete with Ethereum and Bitcoin, two cryptocurrencies that are currently worth dozens of times more. Who knows if Mina will be able to earn a place among the big players in the sector!