Mina is a layer-1 solution to the scalability and privacy issues that the current blockchain networks face. The main takeaway from Mina innovation is its introduction of zk-SNARK (zero knowledge Succint Non-Interactive Argument of Knowledge) into the blockchain which reduces the entire blockchain size into a fixed size of just 22 kilobytes. In comparison, other blockchain size is always increasing with time because the validators will have to validate the entire blockchain if they were to start as a full node. In addition to the small blockchain size, Mina allows for the development of SNARK-powered decentralised apps or Snapps where users keep their privacy by only sharing proof of their data instead of the actual data itself. The MINA token will be used to incentivise users for validating the blockchain.

Evan Shapiro, Izaac Meckler.

Three Arrows Capital, Bixin Ventures, Accomplice, Paradigm, General Catalyst.