Mina was the first cryptocurrency platform that made use of a simple blockchain. The most popular cryptocurrency platforms like Bitcoin and Ethereum contain hundreds of terabytes worth of data, and their blockchains continue to grow in size over time. But Mina is different.
With Mina, it doesn’t matter how large the consumption is in the future. The blockchain will remain the same size, about 20 Kilobytes (the size of a couple of tweets). This means that Mina can be accessed safely on any device, including smartphones and even browsers. It also permits developers to incorporate cryptocurrency into their apps seamlessly.
The MINA token is the Mina protocol’s native currency. It has been featured on numerous cryptocurrency exchanges, which include CoinList, OKEx, and Kraken. However, it is not available to residents in these countries: the United States, Canada, Australia or Japan.
Mina’s Main Objective:
Mina is working towards achieving an efficient distributed payments system that lets users natively validate the platform from the initial block. The whitepaper’s technical description calls it”a “succinct blockchain.”
The protocol is based on Zero-Knowledge Succession Interactive Arguments of Knowledge (zk-SNARKs), an encryption method that allows individuals to verify information without divulging the information.
However, the ability for users to track this platform back to its origin block may not be feasible for a vast network. This is why Mina can gradually compute SNARKS and focus on only the last few blocks.
The core of the Mina protocol lies MINA, the currency of its home country that functions as a utility coin and a medium of exchange.
The MINA Token:
MINA Token serves two main objectives in Mina’s Mina blockchain. These include reducing the computational requirements for developers and also safeguarding the network with PoSmechanisms. Furthermore, since the Mina blockchain uses the OuroborosPoS model, node operators can offer MINA to increase their chance of being chosen as a validator to an upcoming block. Therefore, MINA provides a financial incentive to manage the network.
What Makes Mina Unique?
Mina Protocol claims to be the lightest weight. Because of its lightweight and compact design, it appeared as a decompressed blockchain. Contrary to the other Blockchain protocols, which require an extensive processing capacity to process transactions, the entry barrier for nodes who want to participate in this system is minimal.
This means that anyone can connect, sync and verify the chain nearly immediately. This makes the protocol unique in that it limits the capacity of a block to 22 megabytes. This new technique led to the network being called “the world’s lightest blockchain” by the developers.
Exchanges Where You can buy MINA:
- CoinList:It is Mina Foundation’s official partner for token sales. CoinList allows you to purchase and sell with your MINA token through CoinList. CoinList is a trusted exchange with an intuitive interface that offers a range of token pairs for trade. Community Sale tokens cannot be locked until May 31, 2021, with an initial $0.25 for each MINA.
CoinList’s infrastructure has facilitated over $400 million in investment for more than 30 token sale projects from August 2017. The top projects to have conducted token sales through CoinList are Filecoin, Origin, Props and Blockstack. US, Canada are unsupported countries that allow trading of MINA.
- Kraken:It is one of the five top global exchanges announced that it is now accepting deposits and trading of the MINA token. Kraken is a US-based exchange that offers more than a billion dollars of daily trade volume, with six million customers in 100 countries.
Kraken is certainly a great location to buy and exchange your MINA token at any time. The trading starts June 1 at the time of 00:00 UTC. Trading is not accessible to clients from the US, CA, AU & JP.
- OKEx: This platform will begin listing MINA at 00:30 UTC on June 1. MINA deposits were opened at 2:30 PM UTC on May 31, and withdrawals will start at 10:00 AM UTC the following day, June 2. The limit will increase to $20,000 after an hour and 30 mins, and the limitation is lifted after 2 to three hours. If you have the two platforms mentioned above, it could be designated as an exchange that is Tier-1.
- Gate.io: This platform ranks 4th on the CoinGecko with a score of Trust, with daily volumes of $1 billion. An in-depth review of the fee plan’s usability, design, and usability are available on this page.
- 5. Bilaxy: The Seychelles-based cryptocurrency exchange has declared the support of MINA token trading. It was launched in April of 2018. Bilaxy is a central exchange that claims to serve many thousands of users in more than 80 countries around the globe.
Bilaxy has more than 150 trading pairs and offers decent liquidity, as shown by Coinmarketcap. Reviews on Trustpilot inform customers about the exchange.
- BitZ: It is possible to trade MINA IOUs with BitZ, the Chinese-based exchange for cryptocurrency launched. BitZ traders can access around 140 markets and 160 cryptocurrency trading pairs.
- HitBTC: It is undoubtedly one of the most enduring cryptocurrency exchanges established in 2013. HitBTC has announced that it will support MINA trading as of May 28 2021.
While it is among the first known cryptocurrency exchanges operating, its users have not rated it highly in the reviews posted on Trustpilot. Therefore, traders are advised to take their time to purchase or swap with their MINA through HitBTC.
- LBank:LBank is a Chinese company. LBank also has a cryptocurrency exchange that has announced the support of trading MINA tokens.
However, traders can only trade MINA tokens using the IOU of MINA token at present, as it has not yet publicly listed MINA as a currency on their exchange.
Do you think MINA is a wise investment? If yes, here’s the good news: MINA is among the top 100 cryptocurrencies by market capitalization. This means that it’s available on a variety of major exchanges. It is important to remember that MINA does not have an ERC-20 token that is on Ethereum. It is an individual cryptocurrency that has its cryptocurrency!