Sign Up For Newsletter

Blog

Post / 2021-07-22 / Mina Foundation

What are Snapps?

Cryptocurrency’s scalability and privacy is one of the most pressing issues across any blockchain ecosystem — whether that’s Bitcoin, Ethereum, or a DeFi token. In this article we go over how Snapps solve the industry’s greatest challenges.

Cryptocurrency’s scalability and privacy is one of the most pressing issues across any blockchain ecosystem whether that’s Bitcoin, Ethereum, or a DeFi token. In this article we go over how Snapps solve the industry’s greatest challenges.

Watch this short video to learn about Mina’s Snapps.

What are Snapps?

Snapps are a new type of decentralized application (dapp) that use cryptography to conduct trustless blockchain transactions. Using the power of zk-SNARKs, or zero knowledge Succinct Non-interactive Arguments of Knowledge, Snapps can prove knowledge without needing to expose all pieces of information. Only the bare minimum of details need to be shared, no more than is absolutely required, to complete the transaction. You have complete control over which data you want to share and under what terms or conditions you want to share it.

Blockchain Scalability Needs Privacy

In today’s digital world we are increasingly concerned about the element of privacy. Many times, more information is exposed than is required for the most simple transactions, with no expectation that the information will be kept safe. In fact, the number of data breaches in the USA alone has totaled over 1,000 consistently every year since 2016 (Statista).

Snapps will let you keep your credit score and other sensitive information private, only proving that they meet the necessary criteria, but not actually sharing the underlying information.

Consider this: how much detail do you share with the bank when you apply for an online loan? Typically, you are required to exchange information such as proof of income, social security number, and credit score without knowing whether or not your personal information would be kept safe. 

Mina is specifically addressing the issue of confidence with Snapps, or a SNARK-powered app. In the case of an online loan, Snapps will allow you to keep your credit score and other sensitive details private by only showing that you meet the necessary requirements and not revealing the underlying data. 

Snapps are More Scalable and Privacy Centric Dapps

The types of privacy-enabled transactions offered by Mina’s Snapps are not only highly secure and private, but also highly scalable, even in comparison to Ethereum dapps.

Mina is more scalable than Ethereum dapps because Snapps are executed only once by its author, after which all other nodes will verify the SNARK proof associated with it. Mina’s zk-SNARKs support a concept of recursion — that a proof can refer to itself — and doing this doesn’t increase the size of the proof, no matter how many times we refer to the initial one.

As a reminder, in order to check the execution of a dapp, all nodes and miners on the Ethereum network must perform the same calculation, wasting both energy, time, and money. Mina allows a Snapp to be executed only once by its author, after which all other nodes will verify the SNARK proof associated with it. Additionally, because the SNARK and verification is small in size, verifying the execution of a Snapp is fast and energy-efficient, no matter how complicated the proof is.. As technological improvements drive SNARK proving time down, we’ll see more efficiency improvements with regards to traditional smart contract computations.

How do Snapps solve blockchain’s scalability and privacy issues?

With Snapps, computations are run once by a single person rather than the whole network making it energy efficient, and cost effective.

And finally, with Snapps you won’t be beholden to centralized players anymore. No more handing over your personal data. 

Stay updated on Snapps’ progress by signing up for our newsletter.

About Mina Protocol

Mina is the world’s lightest blockchain, powered by participants. Rather than apply brute computing force, Mina uses advanced cryptography and recursive zk-SNARKs to design an entire blockchain that is about 22kb, the size of a couple tweets, ushering in a new era of blockchain accessibility. With its unique privacy features and ability to connect to any website, Mina is building a private gateway between the real world and crypto—and the secure, democratic future we all deserve. Mina is stewarded by the Mina Foundation, a public benefit corporation headquartered in the United States.

More from our Blog

BLOG / 2021-09-22
Update on Mina’s Supercharged Rewards Schedule
As of September 2021, an update in the supercharged reward schedule was made. Find out more about it here.
Read more
BLOG / 2021-09-15 / O(1) Labs
10 Snapps Use Cases on Mina Protocol
Read more
BLOG / 2021-08-19 / Mina Foundation
What is Ouroboros Samisika?
Read more
BLOG / 2021-08-09
Least Authority Concludes Security Audit on Auro Wallet
Read more

About the Tech

AboutTechCta

Mina uses advanced cryptography and recursive zk-SNARKs to deliver true decentralization at scale.

Get Started

GetStartedCta

Mina makes it simple to run a node, build and join the community.