There was a serious crisis in the Bitcoin and crypto money markets, and the crypto money market lost between 15% and 20%. After the crisis, while Bitcoin is navigating the $50,000 resistance line, the market seems to be calm in general. In this calm environment, some altcoins attracted attention. One of them was Mina Protocol's coin.
Traded at approximately $3.38, Mina climbs to the top of CoinMarketCap with a market size of $1.1 billion. Mina has been listed on CoinMarketCap since June 1, 2021. It saw its highest value at $ 9.91 in the first days of its introduction to the market. Mina, which decreased to 0.92 cents on July 21, was able to increase its value more than 5 times after this date.
Mina total supply: 824,104,972, Mina traded in the market: 210,636,851 MINA (9 September 2021) 327,743,355 MINA (22 December 2021).
It is noteworthy that since September, Mina dumped 117 million Mina tokens on the market. 39% of the total Minas have been released and the remaining 61% are waiting to be released.
Mina Protocol aims to minimize the requirements to enable blockchain-based applications (dApps) to work more effectively, and for this purpose, it builds a "self-chain". Mina describes itself as the lightest blockchain network. Despite its lightness, it tries not to compromise on security and privacy. Mina was founded as Coda Protocol in 2020 and changed its name to Mina.
Every time a Mina node generates a new block, it also generates a SNARK proof that verifies that the block is valid. All nodes can store small proof as opposed to the whole chain. Mina Protocol provides a decentralized Blockchain at scale without having to worry about block size.
We can compare the Mina network to Ethereum rather than Bitcoin. Mina manages its operations on a kind of PoS (Load of Asset) system. Mina network has 3 important actors. These are: Validators, Blockers and Snarkers. Mina has a more complicated mining system.