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