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Unique Features of the Mina Protocol Token

What is the Mina Protocol Token aiming to accomplish?

The goal of the Mina Protocol Token is to design a decentralized payment system that offers efficient verification of system history without relying on external advice. It achieves this through the following properties:

• A formal concept of a "succinct blockchain"
• Generic functionalities represented as replicated state machines using incrementally computable SNARKs
• An implemented payments system called Mina
• Ouroboros Samasika, a provably-secure PoS consensus protocol that provides bootstrapping from genesis
• Parallel scan state to improve transaction confirmation time beyond proof construction limitations
• Performance evaluation report involving a public community

What makes the Mina Protocol Token unique?

While Mina shares similarities with Bitcoin, it differs in how it handles transactions. It also employs the account model used in Ethereum. Unlike Bitcoin, which maintains a list of unspent coins, Mina's state consists of account balances. Additionally, Mina uses a prover, similar to a miner, to ensure each block commits to the state. The protocol also utilizes Ouroboros Samasika, a PoS mechanism designed for succinct decentralized networks with bootstrapping capabilities. Succinct blockchains have two main functions: verification and updating. Mina optimizes transaction processing speed with a parallel scan state, which involves grouping unproven blocks and assigning the process to parallel provers.