MINA
No. 105Price
Markets
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- Coin Introduction
1. Project introduction
Current cryptocurrencies like Bitcoin and Ethereum store hundreds of gigabytes of data, and as time goes on, their blockchains will only increase in size. With Mina however, no matter how much the usage grows, the blockchain always stays the same size - about 22kb (the size of a few tweets). This means participants can quickly sync and verify the network.This breakthrough is made possible due to zk-SNARKs, a type of succinct cryptographic proof. Each time a Mina node produces a new block, it also generates a SNARK proof verifying that the block was valid. All nodes can then store the small proof, as opposed to the entire chain. By not having to worry about block size, the Mina protocol enables a blockchain that is decentralized at scale.
2. Team introduction
CEO: Evan Shapiro
Linkedin: https://www.linkedin.com/in/evan-shapiro-451731176/
Crypto Engineering Lead: Tess Rinearson
3. Investment institution
Multicoin Capital, FTX Venture, CIRCLE, Coinbase Venture, etc.
4. Distribution
In order to motivate participants to begin staking, Mina’s nominal inflation will begin at 12%. Then, over the course of the first five years, the inflation rate will fall to 7% and remain at 7% thereafter by default, subject to changes via the chain’s governance.
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