MINA - Mina Protocol

22kB Blockchain

  • lightweight blockchain maintains a constant size of 22 kB regardless # of TXs processed

  • the blockchain is represented with an easily verifiable cryptographic proof zk-SNARK

  • zk-SNARKS proof represents the state of the whole chain rather than the latest block

  • it doesn’t require each node to record complete record of historical TXs so to keep small size

  • as the blockchain doesn’t increase in size over time, lower barrier to entry for validators

Simple Zero Knowledge Explanation

  1. Q: 1+1+1+1+1=? A: 5, put X=5

  2. Q: 1+1+1+1+1+1=? A: 6

  3. Q: X+1? A: 6

  • MINA’s newly joined node download a proof (i.e. X) that had verified the blockchain

  • proof+1 = zk-SNARK + new block

  • new zk-SNARK = previous zk-SNARK + current block

Block Generation

  • rather than verifying data by running through the data, verifying data by looking at the proof

  • rather than adding new blocks to ledger, a SNARK to record the new state of the blockchain

  • Verifiers

    • everyone who uses Mina Protocol can be considered as a node, to verify transactions

  • Block producers

    • stake MINA, be selected to validate TXs to be include in next block & win block rewards

    • use the current zk-SNARK to prove the validity of a blocks

    • bid the cheapest zk-SNARK from snark workers that includes the new block of TXs

  • Snark workers

    • dedicate computing power to help compress network data & generate proofs of TXs

    • snark workers sell zk-SNARK and paid in MINA

SnApps

  • a new type of SNARK-powered decentralized applications developed by Mina

  • built using zk-SNARKS (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge)

  • Snapps verify data trustlessly and privately from any website signed with an HTTPS signature

  • this proof delivers enhanced security and privacy

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