Mina (MINA) Explained in 6 Easy Steps

Known as “the world’s lightest blockchain”, Mina is a protocol with an ability to remain in a fixed size of 22kb despite the growth in use. The network’s native cryptocurrency is called MINA.

1.When was it founded and by whom?

MINA is a project developed by O (1) Labs in June 2017. Originally called the Coda Protocol, it was renamed as Mina in October 2020.

2.MINA’s infrastructure

Although MINA is a Bitcoin-based protocol, it operates based on Ethereum’s ledger model. Instead of mining , it uses a block confirmation system called SNARK.

3.What does it offer to users?

Even though it uses blockchain network due to its structure, MINA takes up a very small space and this is a fixed size. Due to this feature, it is defined as a sustainable and eco-friendly blockchain. It has introduced an innovative approach to Proof of Stake (PoS) algorithm.

4.Can MINA be mined?

MINA is not a type of cryptocurrency that allows mining activities.

5.All-time low, all-time high (ATH), and total supply

MINA’s all-time low price was $0.9233 on July 21st, 2021 while all-time high price was $5.45 on June 3rd, 2021. Circulating supply of the cryptocurrency is 210,736,193 MINA and the total supply is 824,104,972 MINA.

6.How to trade MINA on Paribu?

By clicking on the link, you can trade MINA on Paribu.