In its statement, OKEx, a crypto exchange platform, announced listing MINA, a Mina Protocol native coin. Keep in mind the OKEx has unveiled backing up the MINA coin throughout this week. For now, the exchange supports MINA deposits, MINA withdrawals, and MINA/USDT spot trading.
The MINA Crypto Token
Market players describe the MINA Protocol as a light blockchain that limits computational needs for DApps to perform efficiently. MINA aims to be the leading lightest blockchain designed to support increased usage, while its size remains unbroken. The protocol compressed the crypto blockchain size to 22 KB, a fraction compared to BTC’s 300 GB network.
Also, MINA token focuses on decentralization and security, striving to create a gateway that preserves privacy in the crypto community.
Keep in mind that the MINA crypto blockchain was the first compressed platform launched in 2017. Its lightweight design ensures quick verification and syncing. Moreover, the chain uses a constant-sized cryptographic proof for a constant size regardless of more platform usage.
Nevertheless, the chain uses zero-knowledge-of-proof micro-certificates that can verify crypto transactions efficiently and privately. The protocols aim to exclude the cross-channel transactions bulkiness, certified at the start of each network. It will replace that concept with an idea of nodes that store small proofs. The proofs, referred to as zk-SNARKs, compresses the entire blockchain into a lightweight version. The MINA protocol ensures lighter and quicker computational efforts by alleviating the need to send the whole chain for verification.
The proofs capture the blockchain network as a light snapshot. The MINA network creates new snapshots upon the creation of another block.
The previous snapshot remains in the chain’s background, covered by new ones. MINA team declared that the strategy allows processing huge information while not affecting the snapshot’s size.
Launched in 2013, OKEx is an exchange platform that supports multiple token activities. Besides futures, the company provides spot, DeFi, lending, options, perpetual swaps, mining services, and margin. Based in Seychelles, this firm has been expanding rapidly as a leading crypto exchange.
Keep in mind that OKEx has been supporting emerging digital assets in its platform since last month.