The popularity of cryptocurrencies has grown at an incredible rate in recent years. Many big players have entered the field to witness the exponential growth. Thus, crypto adoption has grown very rapidly. In terms of adoption, Turkey is one of the leading countries in the world. One of the altcoin projects that took an important place in the hearts of Turkish investors was Mina Protocol (MINA).
Turks loved this altcoin project!
cryptocoin.comAs you follow, Turkey has an important place in the world in the field of crypto. Therefore, Turkish crypto communities are among the targets of most altcoin projects. Jane Everstake from the Everstake Pool team shared Mina’s 5 biggest communities on Twitter by country. According to the data, the Turkish MINA Twitter community is by far the leader.
According to the post, Turkey is one of MINA’s largest communities on Twitter with a rate of 65%. According to the data, Turkey is followed by Ukraine (11.6%), India (6.6%), China (6.3%) and Russia (4.8%).
However, according to data, Turkey is not as active on Telegram as Twitter. On the other hand, it still managed to rank first with a rate of 27.5%. This time, Turkey is followed by Vietnam, Russia, Korea and China on Telegram.
What is Mina Protocol?
Mina Protocol is a minimal concise Blockchain. Developers created DApps with the aim of reducing computational requirements to run more efficiently. In addition, the developers designed Mina to remain constant in size despite growth in usage. That’s why it’s described as the world’s lightest Blockchain. The Mina network has a size of only 22 KB, which is very small compared to Bitcoin’s 300 GB Blockchain. It also remains balanced in terms of security and decentralization. In the meantime, let us remind you that the altcoin project changed from Coda Protocol to Mina in October 2020.
What is the main purpose of the altcoin project?
Mina is working towards achieving an efficient distributed payment system that allows users to authenticate the platform locally directly from the genesis block. The whitepaper calls it a ‘mini Blockchain’ for Mina.
The protocol uses Zero-Knowledge Concise Non-Interactive Information Arguments (zk-SNARKs), a cryptographic proof that allows someone to authenticate information without disclosing said information. However, having a user trace the platform back to the starting block is impractical on a large network. That’s why Mina is calculating SARKS incrementally, focusing only on the last few blocks. This means that end users check this zk-SNARK-compressed proof instead of the entire transaction history of a block. At the heart of the Mina protocol is MINA as a utility currency and medium of exchange.
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