Mina protocol is a next-generation Proof-of-Stake blockchain that stores transactions in succinct form. Mina protocol is a minimal “Succinct blockchain” built to curtail computational requirements in order to run Dapps more efficiently. Succinct blockchain contains two major functions, which are verify and update. Mina has been described as the world’s lightest blockchain since its size is designed to remain constant despite growth in usage. The Mina network has a size of only 22 KB, which is miniscule when compared to Bitcoin’s 300 GB blockchain.
The goal of Mina is to design a decentralized payment system that offers efficient verification of system history from genesis without relying on any external advice. Mina protocol uses Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk-SNARKs), a cryptographic proof that enables someone to authenticate information without revealing said information. MINA is the native currency of Mina protocol, which functions as a utility coin and medium of exchange.
The Mina Ecosystem operates the “lightweight” Mina blockchain. Mina (formerly Coda Protocol) is a project of O(1) Labs. O(1) Labs is a leader in verifiable computation. Mina Protocol is founded and led by the following 2 key people in the leadership positions:
Evan Shapiro
Currently, he is the Chief Executive Officer of Mina Foundation. He is the Co-Founder and former Chief Executive Officer of O(1) Labs. He graduated from Carnegie Mellon with a BS in Computer Science. He then obtained his research MS while working in the CMU Personal Robotics Lab, where he did research for the HERB Robotics Platform. He has also worked as a Software Engineer for Mozilla.
Izaak Mekler
He is the Co-Founder and Chief Technology Officer of O(1) Labs. He is a Mathematician and Computer Scientist, formerly a PhD student studying cryptography at UC Berkeley. He wrote OCaml as a Software Engineer at Trading Firm Jane Street, and has contributed to numerous open source projects including the Elm compiler. He has also worked as a Programmer Teaching Assistant for University of Chicago.
