Mina Protocol is a lightweight, "succinct" blockchain implementation that aims to enable broader network participation than possible with earlier networks. Its native currency is known by the ticker symbol MINA. It serves as a medium of exchange and creates an incentive for transaction validators to commit resources to the protocol.
Self-described as the "world's lightest blockchain," Mina Protocol uses a variation of a delegated proof-of-stake consensus mechanism called Ouroboros Samasika and an implementation of recursive zk-SNARKs to maintain a consistent total blockchain size of around 22 KB. Much smaller than Bitcoin's blockchain — which is already hundreds of gigabytes and still growing — Mina aims to foster greater decentralization by ensuring node operators' hardware requirements remain low.
The data-storage demands of previous blockchain systems are cumulative. Node operators must reference ever more data as block producers add new blocks to the chain. As a result, many users must trust transaction verification to those users operating hardware capable of storing large volumes of data. By contrast, Mina Protocol seeks to ensure that anyone can participate in transaction validation, including those with less powerful hardware, such as mobile phones.
The network also leverages zk-SNARKs technology to support decentralized applications. These so-called "snarkified applications" — or Snapps — can interact with existing websites and online services without compromising a user's privacy. Additionally, Mina Protocol's Snapps are more efficient than Ethereum's DApps, for example, because the entire network does not need to perform every computation.