Mina is an “ultra-light” blockchain that reduces the amount of data that is usually required for a blockchain network to securely operate. Mina utilizes technology known as zero-knowledge proofs (ZK-proofs), which are data-reducing mathematical arguments that also privatize transactions. ZK-proofs reduce data footprints by demonstrating that a transaction occurred merely by seeing specific proofs, which are tiny in size relative to the full transaction. In other words, instead of perpetuating a 1:1 carbon copy of the entire chain from the beginning of time, Mina’s nodes only store a small proof as opposed to the entire chain, which results in the blockchain maintaining a consistent size of ~22kb even as it scales. Mina’s light data footprint is grounds for the argument that it is the world’s lightest blockchain.
*Stated Annual Percentage Reward (APR) is estimated based on reported network data. APR stated is not guaranteed and may fluctuate overtime.
**There is a 2-4 week delay from the time you stake to when you start earning staking rewards.
Learn More About Mina
What is Mina (MINA), and what is it used for?
MINA is the native token used for maintaining and executing transactions on Mina’s Proof-of-Stake network. MINA is required to participate in block production through staking and purchasing of zk-SNARK proofs via Mina’s “Snarketplace”.
What are Mina's staking rewards?
Staking rewards in the form of native blockchain tokens (MINA) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest Mina staking reward figures.
What are the risks of staking Mina?
Like many blockchain protocols, the consensus mechanism used by Mina includes a slashing mechanism whereby any validator that misses too many blocks or double signs a block is penalized by the network, slashing the staked amount on that validator.
What are the current use cases of Mina?
Some of the main use cases for Mina include private voting for payments and Decentralized Autonomous Organizations (DAOs), verified crypto trading history for wealth advisors, and secure document sharing between Know-Your-Customer (KYC’d) verified third parties.
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