Mina bills itself as the “world’s lightest blockchain”. Current cryptocurrencies like Bitcoin and Ethereum store massive amounts of data on their blockchains, and will only continue to increase in size.
Mina however, claims that their blockchain will always stay the same size (about 20 kilobytes), no matter the usage. This will allow the blockchain to be downloadable by anyone who has basic storage and internet access.
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Stake your MINA tokens in a few clicks by following these steps:
Block explorer: hubble.figment.io/mina/chains/mainnet
Web Wallet: clor.io
Minas’ native token, MINA, is used to stake and to participate in on-chain governance.
Staking rewards are enabled at the launch of the mainnet. Transfers will be enabled as tokens become unlocked. Tokens purchased during the Community Sale will be locked for 40 days after mainnet launch. The protocol will unlock 20% of Mina Foundation tokens at the launch of the mainnet. Afterward, the rest of the tokens will be unlocked continuously over the next 3.5 years, beginning six months after launch.
Token holders who stake or delegate without a bonding or lock-up period.
You can self-custody your Mina tokens, ideally using a Ledger hardware wallet.
Figment is partnering with Finoa to serve as a third-party custodian, reach out to support@figment.io.
The Mina Protocol takes control of your MINA tokens while you are staking. As soon as you unbond your tokens, they are returned to you.
No. Mina’s protocol is founded on the Ouroboros algorithm. Slashing is based on regulating the irrational behavior of validators by threatening them economically (aka. threatening their stake if caught with downtime or double signing). Ouroboros, by design, incentivizes all stakeholders to act rationally.
Validators handle payouts, and automatically staking rewards can be automatically staked. Validators can choose not to send rewards or send them when it suits them.
While there isn’t any slashing, delegators will not gain rewards if their validator goes offline.
Mina’s inflation will begin at 12%. Over the next five years, the inflation rate will fall to 7% - unless specified or changed through governance.
Details about governance have not been released yet by the team.
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