Mina Protocol to Host Community Call on December 18th
Mina Protocol has announced an updated proposal to upgrade the Mina Improvement Proposal (MIP) process. The proposal is to be discussed at a community call on December 18.
Refer to the official tweet by MINA:
Mina Protocol (httpz) 🪶@MinaProtocolDec 16, 2024Joaquin Lopez, Governance Analyst at @MinaFoundation, has shared an updated proposal to upgrade the Mina Improvement Proposal (MIP) process.
Incorporating earlier community feedback, this proposal introduces changes to the MIP process to make protocol decision-making more…
MINA Info
Mina Protocol is a Layer 1 protocol designed to provide scalability and privacy in a distributed network. The protocol utilizes zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge) technology, which allows it to be called the lightest cryptocurrency protocol with a compressed blockchain (22 KB). This constant value makes it incredibly compact compared to other blockchains.
Instead of storing the full blockchain data, participants in the Mina Protocol network only store transaction validation proofs. This enables any device, even mobile ones, to become a full node in the Mina network, significantly reducing the entry barrier and increasing decentralization.
The Mina network is secured by proof-of-stake (“PoS”) consensus called Ouroboros Samisika.
Based on Cardano’s Ouroboros, Ouroboros Samisika is a PoS consensus mechanism that requires far less computing power than Bitcoin’s proof-of-work (“PoW”) protocol.