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Mina Protocol aims to create a compact blockchain that stays at a constant size of just 22 kB, no matter how many transactions it processes. This small size means that anyone can run a node to help secure the network without needing powerful computers. By keeping the entire blockchain smaller than many of the photos on your smartphone, Mina hopes to solve the problem of bloated blockchains that other projects face as they expand. Mina Protocol’s own cryptocurrency, MINA, is used to carry out transactions on the network and to distribute transaction fees among users. As blockchain technology has become more popular, the amount of transaction data stored on most platforms has grown considerably. For example, the size of the Ethereum blockchain grew from just over 5 GB in April 2016 to more than 220 GB by April 2021, accumulating millions of transactions during that period. As blockchains grow, running a node, which requires storing the full transaction history, has become more demanding. This complexity discourages average users and raises concerns about centralization, as those with advanced computing resources can better manage large blockchains. To tackle this, Mina Protocol uses a cryptographic method called zk-SNARKS to create a payment-focused blockchain that doesn’t require nodes to keep a complete transaction record. This approach lessens the need for high computing power and aims to make node operation more accessible, promoting a more decentralized and secure network. In this article, we’ll explore Mina price prediction with an in-depth analysis of the MINA coin price and its future market sentiment.  Mina Protocol: A Quick Introduction The Mina Protocol, developed by O(1) Labs, is a new blockchain protocol that enables anyone to participate with full node security using minimal resources. Even smartphones can join the Mina network because syncing only involves downloading a few kilobytes…

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Filed under: News - @ September 9, 2024 5:28 pm