Market Analysis of Mina Protocol: Lightweight Privacy-based Blockchain Protocol

[RyanHuang]

I.Introduction

Mina Protocol, formerly known as Coda Protocol, is a lightweight privacy-based blockchain system based on zk-SNARKs (zero knowledge proof). Mina Protocol’s biggest advantage of is that when compared to the blockspace used by Bitcoin and Ethereum which is calculated in GB, Mina protocol only needs 22KB (equivalent to the size of several tweets) to run the nodes.

Mina's approach in using zk-SNARKs is to create SNARK (that is, recursive) for SNARK, then iterate and nest them over and over again, linking these SNARK proofs together in a recursive structure, achieving a fixed blockchain size of about 22 KB.

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[ilovealtcoins]

The file structure is meant to be stacked so how can each block be 22KB. In my understanding, over time this structure will make the blockchain heavier and heavier. Another problem is that this blockchain is so light, what will it be used for?
I prefer a blockchain of moderate size because it can ensure applicability and security.

[Ucy]

The file structure is meant to be stacked so how can each block be 22k. In my understanding, over time this structure will make the blockchain heavier and heavier. Another problem is that this blockchain is so light, what will it be used for?
I prefer a blockchain of moderate size because it can ensure applicability and security.

I guess Op is referring to block size limit rather than a whole Blockchain.
I think a proper size should depend on participants producing their own Blocks, which would work great on multi-chain Network with custom Blockchains.

[ilovealtcoins]

The file structure is meant to be stacked so how can each block be 22k. In my understanding, over time this structure will make the blockchain heavier and heavier. Another problem is that this blockchain is so light, what will it be used for?
I prefer a blockchain of moderate size because it can ensure applicability and security.

I guess Op is referring to block size limit rather than a whole Blockchain.
I think a proper size should depend on participants producing their own Blocks, which would work great on multi-chain Network with custom Blockchains.

I corrected the typo. There's a blockchain that's custom-sized, that's Lamden. Read through this document to better understand how they work.

https://blog.lamden.io/high-performance-and-scalability-on-a-python-blockchain-47c0200c3ef6


Mina said that each block is always 22KB so how will the transactions being translated add data. Bitcoin per block is 1MB and it's still congested.