Mina

MINA is a utility token that is associated with the MINA protocol (formerly known as the Coda Protocol). Its technical whitepaper calls this a “succinct blockchain.” It is the lightest blockchain in the world at 22kb and does not need to expand as it uses zero-knowledge proofs to run nodes with limited size. This ensures that users can run a full node on their smartphone. The token MINA can be used to trade in the Snarketplace.

There is concern regarding inflation owing to new MINA tokens being minted, which may lead to dilution. Because the Mina Protocol is PoS-based, users are penalized for simply holding their tokens without staking by increasing inflation.

The token value is down 95% from it’s all-time high as of August 2023.

The transaction speed could be a barrier to scale. It is faster than Bitcoin but far from modern blockchains like SOL and XRP in terms of processing transactions per second.

It is used for utility within the snarketplace.

The protocol delegates tokens to validators who earn staking rewards.

MINA has a fixed blockchain size of 22 KB compared to Bitcoin’s 300 GB, which gives it increased speed and scalability.

Using Snarks to verify and validate nodes on the blockchain is a new technology that may have significant upside.

Due to the Snark integrations, users can validate the authenticity without knowing what the operation is about.