Turkey crypto community Ethereum From Tobbykitty, one of the anonymous accounts he knows and loved as his maximalist MinaThere is a post about .
Underlining that Mina’s real value is far below, Tobby explained in a language that everyone can understand what problem Mina has created a solution to.
“Blockchains are beautiful, but far from perfect.
A blockchain cannot be decentralized, secure and scalable at the same time.
Each block has a certain capacity and if the capacity is exceeded, the transfer fees start to increase.
In this respect Ethereum DeFi Remember your article.
Each transfer made fills a gap in the block, transaction fees will be low if there is enough space in the block. However, if the traffic increases, the transaction fees will also increase. It’s that simple.
So, can we overcome this problem by increasing the block sizes?
Actually yes. Bigger blocks mean cheaper transactions.
So why don’t Ethereum and Bitcoin reduce transaction fees by growing blocks?
It sounds logical, but there’s a problem, and that’s the size of the blockchain.
If the blocks get bigger, each block will carry more transfers, which will increase the size of the blockchain.
If the size of the blockchain grows, it will be difficult to establish a node on that blockchain. The harder it is to set up nodes, makes the blockchain more centralized.
So in summary: Blockchains with cheap transactions are cheap because no one uses them. It becomes expensive on those networks when used, or they are centralized because their blocks are so large.
So what are we gonna do?
To solve this problem, Ethereum wants to process transfers over Layer-2 protocols and keep proof of transfer on the mainnet.
Now, our main topic is Mina, it is actually the same as Ethereum. We call these zkApps.
What is ZkApps?
zkApps are smart contracts on the Mina protocol. They are just like Ethereum’s smart contracts but they execute Tx off-chain and avoid mainnet congestion.
You can think of them as Mina’s L2s.
So what exactly makes Mina stand out from the rest?
Mina uses zKSNARKs for the blockchain size. With SNARKs, Mina always stays a fixed size and is only 22 KB.
This means that participants, i.e. nodes, can quickly sync and validate the Mina blockchain.
It is enough to download the 22 KB zk-Proof of the entire blockchain to start the verification.
This makes Mina more decentralized and censorship resistant. This distinguishes Mina from other blockchains and makes it unique.
In addition, thanks to Mina’s fixed size, other blockchains/L2s can use Mina as a Data Availability network by sending proofs of Txs to Mina.
They have an extremely hardworking team and large community, and they plan to do everything on their roadmap this year.
I can elaborate further. But I think that’s enough for beginners.”
Adding a warning after sharing his thoughts on Mina, Tobby reminded that he is not a financial advisor and wanted this post not to be perceived as investment advice.
*Not Investment Advice.