FTX Ventures, Three Arrows Capital lead $ 92 million for Mina Blockchain
FTX Ventures, Three Arrows Capital lead $ 92 million for Mina Blockchain
- The participants include Pantera, Brevan Howard, Alan Howard, Amber Group, Blockchain.com, Circle Ventures and Finality Capital Partners
- According to Evan Shapiro, the capital is used by the Mina Foundation to "open more funding programs, such as a solid funding program to support developers".
The Blockchain Protocol Mina secured $ 92 million in a financing round listed by FTX Ventures and the Singaporian Hedge Gunde Three Arrows Capital.
The capital will flow into the "opening of further funding programs" to "support developers," told Evan Shapiro, Managing Director of the Mina Foundation.
"This [Investment] of some of the most respected companies in the crypto area supports our goal to ensure that Mina becomes the first contact point for data protection and end-to-end security level for Web3 and is also powered by the participants," said Shapiro.
Other investors in the round are Pantera, Brevan Howard, Alan Howard, Amber Group, Blockchain.com, Circle Ventures and Finality Capital Partners.
Mina is the creator of a proof-of-stake protocol that describes itself as the "lightest blockchain in the world". The project uses recursive zero-knowledge evidence to keep the condition of the network on tiny 22 kilobits (KB)-about 2,800 characters or 10 tweets. For comparison, the blockchain from Bitcoin is just about 396 GB, while Ethereum weighs at 601 GB to synchronize the entire chain.
Imagine that you take a photo of a sunset on Hawaii on vacation to prove that you were there. Now someone takes a photo of your picture. Only, unlike snapshot photos, a cryptographic procedure, the so-called ZK-Snarks with certainty that they certainly also enable them as well Hawaii were there as they could.
Theoretically, this means that Mina could be more easily decentralized, since node operators do not need significant investments in hardware. Developers of Ethereum and Bitcoin have plans, so-called " light customers ", which would use similar techniques to do without a complete copy of the chain curve function.But on Mina, all participants act as complete nodes and participate in the maintenance of the consensus, Proof-of-stake protocols that was first developed for Cardano.
The system relies on another network participant who is referred to as a "prover" (a bit like a Bitcoin miner, but without the energy consumption), which has to save the full state.
The calculation of zero-knowledge evidence has a disadvantage: Minas 1 transactions per second (TPS) rate makes it considerably more slow than alternative layer Like Cosmos and Solana and even slower than the 7 TPs of the Bitcoin network.
The team prefers to focus on another mental model for scalability, You call scade for scalability per decentralization unit.
MINA is "designed for mass acceptance at both user and application level," said Brian Lee, a partner at FTX ventures, to block works and added that "it would enable a new generation of web3 applications".
Last year the blockchain collected in his token sale on coin list.
Macauley Peterson controlled the reporting on this story.
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The Post Ftx Ventures, Three Arrows Capital Lead 92 million $ Raise for Mina Blockchain is not a financial advice.
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