What is the Mina Protocol?
Mina, a lightweight blockchain, is also considered the very first cryptocurrency with a succinct blockchain in the world. All other cryptocurrencies like Bitcoin, Ethereum blockchains will eventually increase in size. But with MINA, no matter how much data is stored on the blockchain, its size will not increase, making network verification and synchronization easy and fast.
|24H price change||+12.57%|
|Price change 7 days||+18.68%|
|Circulating Power||721 184 875 MIN|
|All time top||$9.91|
|all the time low||$0.9233|
|Mina ROI||No data|
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MINA, an open source and layer 1 protocol, was created in June 2017 to ensure decentralization, scalability and security. This was achieved using a cryptographic proof called zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARK). Each time Mina produces a new block, the SNARK proof verifies that it is valid. The Mina network allows block producers to prove consensus on issues.
In Mina, users can delegate instead of betting. It is not necessary to keep a node always connected to the Internet. Mina users can deploy a full node on their smartphones. People who want to be part of the Mina ecosystem can join as block producers to earn rewards.
How does Mina work?
Instead of sending the total chain, zk-SNARKS captured a snapshot of the entire blockchain and sent it. Similarly, when the next block has been created, it will itself take a snapshot. The background of the last snapshot will be the previous state of the blockchain. The size of all snapshots will remain the same. Mina has a modified Ouroboros Proof-of-Stake protocol. All participants act as nodes so anyone can be part of the consensus. Mina Protocol CEO Evan Shapiro, along with his four-member team, is working hard to secure the future of blockchain. The three main use cases of Mina are listed as follows,
- End-to-end data privacy, online to blockchain: The Mina Protocol placed importance on confidentiality and the protection of personal data. Onchain services of the Mina protocol are accessible without compromising the confidentiality of personal information; Mina can be used to access online data and prove that service provider requirements have been met without any data vulnerabilities.
- Authorization less Oracle Web: With Snaps, developers can leverage verified real-world private data from any website to develop decentralized applications. Without permission from this website, publicly available information on the web may be posted anywhere. Accessibility, use and protection of sensitive data can only be achieved by sharing relevant evidence. It eliminates the need for oracles or custom website integration.
- One-Private-Internet-Log-In: Normally, users need to create accounts to access the Internet. With the MINA protocol, users can access any website or Internet service privately, without providing personal data, login data, and no service provider can block them. Channel developers can integrate this option into their development services.
This project was previously known as Coda Protocol, and it was renamed Mina Protocol in October 2020. MINA is the native cryptocurrency of the Mina platform. The MINA cryptocurrency functions both as a protocol utility crypto as well as a means of payment and exchange of funds. MINA uses the Ouroboros Samasika PoS mechanism designed for sparse decentralized networks. It provides seeding from the genesis block. The lowest storage concept and its technology make Mina unique.
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How did transactions happen on Mina?
When the client initiates a transaction, it will be redirected to the meme pool. The meme pool is a valid proof but an unconfirmed transaction. Then this will be supported by snarkers by showing or SNARK. Next, the block producer will be selected to aggregate the transactions into blocks. The block producer then chooses a SNARK, incorporates SNARK into a block. This block will be added to the chain and updated on the network. SNARK transactions will be removed from the chain to keep the size constant. Finally, the block producer will update the zk-SNARK protocol. A new block is part of the chain.
MINA Technical Analysis
The current price of MINA is $2.72, a 24-hour trading volume of $57,571,200.26 with a market capitalization of $1,185,896,749.12. Today’s price change is $0.1615. The all-time high of the MINA price is $9.91 and the all-time low is $0.9233.
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The cryptocurrency market has been on a major downtrend since November 2021. Price changes are necessarily reflected on the volume front. The MINA protocol has huge price changes that have been decreasing. November 10-11 shows a strong green candle, but the rise in MINA price cannot be sustained, traders have started selling Mina digital coins, and a drop to the same reversal level is visible on the daily chart. However, currently a slight recovery is observed since March 2022.
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If the decline in MINA price continues, immediate support is placed at $2.40, further decline may take Mina Protocol price to $2.05. major support is placed at $1.59. At the top, immediate resistance is placed at $3.71, and if Mina Protocol price can break above this level, it will reach $4.32.
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Looking at some of the most popular technical indicators, MINA Protocol price is moving in the positive direction. The RSI placed at 65.58 and the MACD line are trying to cross the signal line from below, which means that the Mina Protocol is slowly turning to the buy side, but remains slightly bearish. If the current session ends in green, then after a trend confirmation, traders can initiate a short-term buy Mina protocol.
Mina Price Prediction: 2022-2026
MINA’s long-term forecasts show a huge deviation from forecasts. There are two sides, one which shows that MINA will fall in the future and the other which shows that the price of Mina may rise. Accurate long-term price predictions are difficult in the crypto space. The long-term forecasting system cannot guarantee that the coins will reach the forecasted price. Let’s take a look at the Mina Protocol price predictions for the next five years, keep in mind that crypto trading is still a significant risk.
Mina Crypto Price Prediction 2022
The MINA price was around $2.71 at the beginning of 2022. Later, it might show a good sign after the second half of the year and reach a maximum price level of $3.77 by the end of the year .
Mina Price Prediction 2023
Mina crypto is expected to start 2023 with a price of $3.88. Later, the coin will soon recover and trade higher to a maximum price level of $4.37 by the end of the year due to major network upgrades and efforts from the community.
Mina Coin Price Predictions 2024
With significant adoption and collaborations with the other influential networks, the price of the Mina would increase enormously. The Mina Protocol forecast for 2024 starts at $5.63. The price of MINA is expected to reach a maximum price level of $5.94 by the end of 2024, according to our MINA price prediction.
Mina Coin Price Prediction 2025
This year, a slight correction in the price is expected compared to the year 2024. The Mina price could initially reach $4.67. The coin could reach a level of $5.78 by the end of 2025.
Mina Price Predictions 2026 and Beyond
It is not easy to predict crypto price trends for the next five to six years, but nevertheless, based on historical data, current price trends, fundamentals, and forecasting systems, we can speculate on future price levels. It is strongly predicted that the Mina price may drop to $5.74 by the end of 2026 which would be lower than in 2025. The Mina Protocol price prediction beyond 2026 and the price prediction of Mina 2030 coins also appear optimistic based on the current analysis. Mina is not very convincing in the long term. Still, based on the MINA 2030 price predictions from influencers and crypto experts, the coin might breach the minimum price level of $11.99.
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Frequently Asked Questions
Is Mina a good investment?
Yes, Mina Protocol is a good investment because it is one of the most advanced blockchains with solid fundamentals. Mina price predictions show that MINA/USD will be a very profitable investment in the long run. However, the future price development depends on the market scenario on that date. Compared to other market instruments, the growth of digital coins is still experiencing high volatility. MINA is not a bad investment option for the future, but before investing or trading, investors should be careful. For a good return, decide wisely before entering, do your own research and take a little investment advice if necessary.
Where can you buy Mina coins?
Traders and investors can buy MINA on major crypto exchanges like Binance, Kraken, OKEx, WazirX, Mandala Exchange, ZT, HitBTC, etc.
Who created Mina Crypto?
Mina crypto was created by Evan Shapiro and Izaak Meckler in 2017.