Mina jumps 33% as OpenMina node browser concept gains traction

Mina has risen over 33% to $0.855 in 24 hours since the announcement of the OpenMina node browser concept.

Since January 8th, MINA has been on an upward trend reflecting the general crypto market uptrend. However, the price action exploded on January 25, when the daily candle rose 34% above $0.741. He ended the day at $0.687, holding up most of the gains.

After three days of selling that followed, Mina’s bull market returned on January 29, sending the price up 23%. The bullish momentum continued on Jan. 30 as the price climbed to his $0.951 high, a 24-week high.

mina daily chart
Source: MINAUSDT on TradingView.com

Anyone can run node through a browser

January 26th, Mina announced a partnership with Viable Systems to launch OpenMina, a web node browser concept. The accessibility of this concept is expected to attract more node operators and facilitate network decentralization.

Evan Shapiro, CEO of the Mina Foundation, said decentralization is a “core value” of the project. By allowing nodes to be joined via a web browser, node growth is expected, and network decentralization and security are improved.

“Decentralization has always been a core value of the Mina ecosystem. Making node-level participation in the Mina network more accessible promotes decentralization and increases security across the ecosystem.”

OpenMina removes the barriers to node operation, such as expensive hardware investments and complex technical setups, allowing blockchain nodes to run on browsers such as Chrome and Firefox.

Low minimum hardware requirements mean OpenMina can run on mobile phones.

What is Mina?

Mina was rebranded from Coda Protocol in October 2020. However, the project’s goal of “replacing” traditional large-scale blockchain setups in favor of cryptographic proofs remains.

of white paper We discussed building a “more ideal blockchain architecture” using zero-knowledge proofs. In traditional blockchains such as Bitcoin and Ethereum, the accumulation of data leads to chains that are hundreds of gigabytes in size and grow over time.

“Mina is a layer 1 blockchain with a 22KB blockchain written in TypeScript and zero-knowledge smart contracts (“zkApps”). “

Mina is different in that it has a blockchain that remains 22 kilobytes. Current network consensus can be verified via the Cardano-based Ouroboros Samisika Proof-of-Stake consensus mechanism.

Supporting this is the Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk-SNARK). It provides cryptographic proof of authenticated data without revealing the data, but enables trails to the genesis block and records network state.

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