MINA

Mina Protocol price

MINA
|
3.2/5
TokenInsight
3.2
05/31/2023
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USD
USD
$0.53290
+3.03%
1h
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Mina Protocol price live data

The current price of Mina Protocol is $0.53290. Since 00:00 UTC, Mina Protocol has increased by +3.04%. It currently has a circulating supply of 1,132,386,510 MINA and a maximum supply of 1,174,023,585 MINA, giving it a fully diluted market cap of $603.22M. At present, Mina Protocol holds the 81 position in market cap rankings. The Mina Protocol/USD price is updated in real-time.

Mina Protocol price performance in USD

Time periodChange amount%Chg
Today$0.015700 +3.03%
7 days$0.064500 +13.77%
30 days-$0.11630 -17.92%
3 months-$0.24450 -31.46%

Mina Protocol market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.51010
Last price $0.53290
24h high$0.53390
Heat index ranking
185
Market cap ranking
81
Market cap
$603.22M
Favorited rate
Percentage of users who favorited this asset to all users
2.80%
All-time high
$9.6000
-94.45% (-$9.0671)
Jun 1, 2021 (3 years ago)
All-time low
$0.34770
+53.26% ($0.18520)
Oct 11, 2023 (9 months ago)
ICO date
04/13/2021
ICO price
The price at which this crypto was first traded
$0.25000
Circulating supply
The amount of this crypto that is publicly available in the market
1,132,386,510 MINA
Market cap at circulating supply
Market cap = Circulating supply × Last price
$625.41M

About Mina Protocol (MINA)

In the ever-evolving cryptocurrency landscape, the volume of data stored within blockchains is rapidly expanding. As individual blockchains grow, they amass an increasing number of transactions, which can pose challenges for certain projects seeking seamless scalability. Mina Protocol (Mina) is at the forefront of tackling this issue. Through its innovative consensus mechanism and efficient data processing capabilities, Mina is pioneering a path for widespread blockchain adoption.

What is Mina

Mina is a lightweight blockchain protocol designed to minimize storage requirements and maximize accessibility. Utilizing zk-SNARKs technology, Mina compresses its entire blockchain into a fixed size of approximately 22 kilobytes, often called a “succinct blockchain.”

Using zk-SNARKS, Mina has developed a payment-orientated blockchain that doesn’t require each node to record the complete record of historical transactions. This essentially lowers the computational requirements needed to support the network.

Additionally, Mina allows its users to access money from anywhere in the world. Thanks to their 22kb Mina chain, users can access peer-to-peer (P2P) stablecoins and tokens through a smartphone, enabling Mina users to enjoy the platform wherever they go.

The Mina team

Mina is developed by O(1) Labs, a team of experienced engineers, researchers, and entrepreneurs dedicated to creating innovative blockchain solutions. Evan Shapiro, the CEO and co-founder, leads the team along with CTO and co-founder Izaak Meckler.

How does Mina work

Mina relies on the zk-SNARKs technology, a form of zero-knowledge proof cryptography, to maintain a constant-sized blockchain. The protocol allows users to confirm they have certain data without revealing it to each other. For Mina specifically, it means the network does not have to verify a transaction with every block it creates. This ultimately reduces the amount of computational power required and increases the efficiency of the protocol.

Validators create and verify zk-SNARK proofs, which represent the current state of the blockchain, while stakers support the network’s security by delegating their MINA tokens to validators.

Mina Protocol’s native token: MINA

MINA is the native cryptocurrency of the Mina Protocol. It facilitates transactions, staking, and network governance.

MINA tokenomics

The maximum supply of MINA tokens is set at 3.79 billion. MINA tokens are distributed through various channels, including the initial token sale, community grants, the Mina Foundation, and team allocations. The token is vital for securing the network and incentivizing user participation.

Mina use cases

Mina allows developers to build decentralized applications (dApps) on the blockchain, ranging from financial services to games and social media platforms. Furthermore, through Mina’s Snapps (SNARK-powered apps), developers can create applications that interact with real-world data securely.

With Mina’s zero-knowledge proof method, users can validate transactions without revealing the associated information, ensuring privacy. To enhance user privacy even more, participants can leverage Mina to prove the authenticity of critical data without storing the actual data on the blockchain.

MINA distribution

MINA is distributed through various means, including:

  • 1.89 billion MINA tokens were sold in an initial token sale.
  • 1 billion MINA tokens were allocated to community grants, which will be used to support projects and initiatives that help the Mina ecosystem grow.
  • 500 million MINA tokens were allocated to the Mina Foundation, a non-profit organization responsible for overseeing the development and maintenance of the Mina protocol.
  • 200 million MINA tokens were allocated to the team that developed the protocol.

Mina’s road ahead

Mina is focused on building a more accessible and equitable internet. The team plans to continue refining its succinct blockchain technology and foster its vibrant community. Mina’s roadmap includes enhancing the development of Snapps, bolstering the robustness of the network, and forging strategic partnerships to expand Mina’s utility and ecosystem.

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MINA FAQ

How does Mina Protocol ensure a consistent blockchain size?

Mina Protocol achieves a constant blockchain size through the utilization of zk-SNARKs, a type of zero-knowledge proof cryptography. Validators within the network generate zk-SNARK proofs for each new block, succinctly representing the entire blockchain's state. This approach allows Mina to retain a fixed blockchain size, regardless of the volume of transactions, by efficiently encoding the data in a compact proof.

What are Snapps in Mina Protocol?

Snapps, short for SNARK-powered applications, represent a distinctive feature of the Mina Protocol. These applications empower developers to build dApps that are private, lightweight, and verifiable. Snapps have the capability to interact with various websites while enabling confidential access to real-world data. This innovation expands the possibilities for creating privacy-preserving and efficient decentralized applications.

Where can I buy MINA?

Easily buy MINA tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include MINA/USDT and MINA/USDC.

You can also buy MINA with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), are also available.

Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for MINA with zero fees and no price slippage by using OKX Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into MINA, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

How much is Mina Protocol worth today?
Currently, one Mina Protocol is worth $0.53290. For answers and insight into Mina Protocol's price action, you're in the right place. Explore the latest Mina Protocol charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Mina Protocol, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Mina Protocol have been created as well.
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