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Blockchain

What is the MINA token used for?

How the protocol uses the MINA Token. Mina is privacy preserving and lightweight blockchain based on zK-SNARKS.

MINA token is

MINA is the native token of Mina protocol.

MINA token is used for

  • Staking to secure the network (PoS)

How could value accrue to the token?

Locking

  • Staking and delegating

What is Mina protocol?

Mina is privacy preserving and lightweight blockchain based on zK-SNARKS.

How the protocol works

The protocol uses a modified version of Ouroboros Proof of stake. Every user is a full node and verifies the blockchain.

  • Users can stake and delegate to earn tokens.

zK-SNARKS

zK-SNARK are cryptographic proofs of the transactions that have happened earlier. Participants use the proof instead of syncing every transaction to join as a node.

Every block creates of proof of the previous block. This means that the size of the chain (~22kB) always stays the same unlike other Blockchains which are getting larger and larger.

Users of dApps don’t have to provide their personal or sensitive data. They can just sign a proof that they meet the criteria.

Snapps

A combination of Snarks and dApps.

The smart contracts of the protocol enable new uses cases like creating decentralized oracles just using https signatures from existing websites.

The protocol does not yet support smart contracts.

This enables

  • Privacy-preserving dapps
  • Privacy-preserving one-click login
  • Oracles without oracle network

Token Isssuance

Minted supply: 1 000 000 000 tokens

Inflation

  • 12% – 7%

Tokenomics

  • 6% – Mina foundation
  • 7.5% – Labs Endowment
  • 20.5% – Backers
  • 23.6% – Contributors
  • 34.8% – Community
  • 7.5% – Sale

Presale

  • Seed: $0.07
  • Strategic: $0.15
  • Public: $0.25

Docs

Similar projects

MINA token price

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