Leading US-based cryptocurrency exchange platform Coinbase has finally listed the “world’s lightest blockchain,” Mina Protocol, after a two-week delay.
The listing news is a privacy-focused payment protocol that is only 22 kilobytes in size. At Mina Protocol (MINA) Despite the trend in the crypto market, it made a splash. MINA rose nearly 15 percent to $3.48 from $3.04, a 24-hour low.
What is Mina Protocol (MINA)?
Mina Protocol is a platform that aims to be a lightweight blockchain with a fixed size of 22 kB, regardless of the number of transactions committed to the network. This size allows anyone to run a node and contribute to the security of the network without requiring complex computer hardware.
By keeping the entire blockchain at a smaller size than most images on your phone, Mina plans to overcome the blockchain size issues that plague other projects as they grow. Mina Protocol’s native cryptocurrency, MINA, is used to facilitate network transactions and distribute fees among users.
According to the crypto project’s website, MINA’s small size allows anyone to connect to the internet using their smartphones to verify the blockchain’s transactions. Mina Protocol to secure user data while executing smart contracts
It uses Zero Knowledge Proof.
Zero-Knowledge Proof allows a party to prove to the verifier that a given statement is true without revealing any extra irrelevant information.
Listing is delayed
MINA was originally expected to launch on the platform two weeks ago, but some delays were encountered in the process. The original launch news made the smart contract platform jump 25.4 percent from $2.16 to $2.71.
Commenting on the delay, Coinbase said that the buying and selling capability of the world’s lightest blockchain has been delayed to ensure the launch is successful:
“To ensure the successful launch of MINA, we have made the decision to continue postponing the launch of trading.”
Eventually, however, Coinbase announced in a statement yesterday that MINA trading will begin if proper liquidity conditions are met. These conditions were met, and as a result, the altcoin officially started trading on the exchange today.
Update: Trading for MINA will begin on or after 9am PT on Wed April 6th if liquidity conditions are met. As a reminder, deposits and withdrawals are enabled for MINA. https://t.co/vpaWkOqJkM
— Coinbase Assets (@CoinbaseAssets) April 5, 2022
The cryptocurrency has stabilized since it started trading and is trading at $3.41, up over 7 percent at the time of writing.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.