The Mina Protocol—the world’s lightest blockchain—is powered by participants. The Mina Foundation—a public benefits corporation responsible for stewarding the Mina protocol—is committed to providing transparency to the community regarding, among other things, its token activities, operations, holdings and protocol developments. This annual report covers a period between February 2021, when the Mina Foundation was first launched, to December 1, 2021.
Starting from the calendar year of 2022, the Mina Foundation will issue quarterly reports that highlight certain key information, including token activities and other updates relating to the Mina ecosystem.
About Mina Protocol
Mina Protocol is being incubated by O(1) Labs, the leader in zk-SNARKs and verifiable computation. Mina Protocol, the world’s lightest blockchain, provides a foundation for the decentralized digital economy (Web 3.0), by affording all participants fully P2P, permissionless access to the chain, from any device. By utilizing recursive zk-SNARKs, the Mina blockchain always stays the same size — about 20 kilobytes (the size of a few tweets). Recursive zk-SNARKs allow nodes to rapidly share and update proof of the correct blockchain state across the network. This breakthrough application of zk-SNARKs solves the issues of scalability and high barrier to entry for nodes that have plagued legacy blockchains to-date. By making it easier for nodes to participate, Mina improves decentralization and therefore security of the network. The Mina blockchain can be easily accessed from any device, including phones and browsers, and can be seamlessly integrated into new decentralized applications (dapps).