By Nathan Ferguson
- The lightweight blockchain network Mina Protocol cheered a record of 200 staking pools and 120,000 blocks during its first anniversary.
- Coinbase listed MINA after the alt reached 100,000 active accounts.
- Mina Protocols developers work on an ETH bridge for Ethereum developers to access the MINA blockchain.
- The alt has gained over 100% over the past three weeks, setting new monthly peaks of $3.5.
Developers have inventive ideas to design a perfect blockchain. Mina Protocol has a unique approach, building a ‘succinct blockchain’ to ensure top-notch computational requirements for dApps to run more efficiently.
Mina developers revealed 22 KB as the blockchain size. Others have their average sizes exceeding 300 GB. Mina terms itself as the lightest network blockchain globally since its size can stay constant despite surged usage.
Latest Developments
Mina had lucrative developments during March as the blockchain celebrated its initial anniversary. First and foremost, the platform secured $92M in funding via private and strategic sales. Three Arrows Capital and FTX Venture led the round.
The company revealed using the funding round to increase Mina adoption and attract developers. Moreover, Mina announced that it achieved a milestone of 120,000 blocks with more than 200 staking pools. It added users either delegated or staked more than 90% of authorized MINA coins.
On 31 March, Mina cheered 100,000 active accounts, acquiring 25,000 of them over the past four months. The blockchain also saw another win this month as the leading exchange, Coinbase, added the currency on 6 April. MINA surged about 10% within 4 hours following the listing news.
The Mina Foundation outlined some events that might take the project to new heights. For now, developers built an ETH bridge. That would allow Ethereum developers to access the Mina platform via the ETH Virtual Machine.
Price Updates
Multiple developments in March had Mina token price exploding over the past three weeks. The alt traded around $1.59 on 15 March. However, MINA touched an intraday peak at $3.5 on 8 April. However, the crypto corrected after the highs, trading near $3.2231 at this publication.