Mina (MINA) is the first cryptocurrency protocol with a succinct blockchain. Regardless of how much the usage grows, the blockchain always stays the same size, which is approximately 22 KB, equivalent to the size of a few tweets. This means participants can quickly synchronize and verify the network.
This breakthrough is possible thanks to a type of succinct cryptographic proof called zk-SNARKs. Each time a Mina node produces a new block, it also generates a SNARK cryptographic proof that verifies the block's validity. All nodes can store a small proof instead of the entire chain. Mina (MINA) protocol allows for a decentralized blockchain at scale without worrying about block size.
Mina (MINA) is a "succinct blockchain" created to reduce computational requirements for running DApps (Decentralized Applications) more efficiently. Because it's designed to stay the same size regardless of usage growth, it is described as the world's lightest blockchain. It also maintains a balance in terms of security and decentralization. The project was rebranded from Coda Protocol to Mina (MINA) in October 2020. The Mina (MINA) network has a size of only 22 KB, significantly smaller compared to Bitcoin’s 300 GB blockchain.
When creating blockchains, developers often have to choose between scalability, decentralization, and security, which seem to be incompatible features when implemented under a single protocol.
For most projects, only two components can coexist, forcing projects to compromise. The coexistence of these three features is known in the blockchain trilemma, as coined by Ethereum co-founder Vitalik Buterin.
One significant reason for this deadlock is the increase in the size of decentralized platforms as usage increases. Large sizes are evident in leading projects like Bitcoin and Ethereum.
Bitcoin uses a Proof-of-Work (PoW) consensus mechanism that is decentralized and secure but lacks scalability. Ethereum is currently moving to Proof-of-Stake (PoS), which is expected to scale better, but the original smart contract network has not yet achieved high scalability with DApps, especially considering the current astronomical ‘gas’ costs for interactions. Other top five cryptocurrencies face similar issues. For example, the XRP ledger scales very well but has been heavily criticized by the crypto community for a lack of decentralization.

Mina (MINA) functions similarly to Bitcoin in how transactions are executed but also uses the account model used by Ethereum. This means the state of the Bitcoin blockchain includes a list of unspent coins, while Ethereum's state consists of account balances.
Mina uses a prover (or snarker) equivalent to miners to ensure each block is stateful.
Since Mina (MINA) boots from a genesis block, it uses Ouroboros Samasika, a type of Proof of Stake mechanism specially designed for succinct decentralized networks.
Succinct blockchains include two main functions, known as verification and update. Verification involves consensus, blockchain summary, and blocks, while the update function interacts with consensus and chain summary.
Moreover, the Mina (MINA) project uses a parallel scanning state to optimize transaction processing speed by batching unproven blocks and assigning the process to parallel verifiers.

Mina (MINA) aims to revolutionize the current blockchain environment, which typically has validators and light clients as external parties validating transactions.
Mina (MINA) adopts a different approach with multiple participants each serving a specific function within the decentralized network.
Mina (MINA) includes three main roles: validators, block producers, and snarkers.

Validators interact with zk-SNARKS concerning the validation of consensus information. Every Mina (MINA) user can be considered a validator as long as their devices can process a 22 KB chain and withstand a few milliseconds of processing time.

Block producers take the form of stakers or miners and earn block rewards and transaction fee payments. The Mina (MINA) project does not diminish incentives that deter producers. This participant category allows Mina (MINA) users to delegate their coins to them.
In addition to allocating transactions into blocks, block producers are required to make an equivalent number of pre-committed SNARKs during block production, as failing to do so would lead to incomplete blocks and rejection of their validity by other nodes.
If a block producer wants to add 10 transactions to the chain, they must also perform SNARK transactions from the front of the queue, though they have the option to produce them or use those created by a special group of participants called snarkers.

Snarkers, also known as Provers, produce the zk-SNARKs used in verifying transactions.
Block producers pay snarkers the total transaction fees collected for adding new blocks but must bid to earn the fees. It should be remembered that the block producer responsible for encouraging the snarker if a snarker's zk-SNARK is to be used in a block. In other words, this situation creates a job economy where multiple snarkers can publish bids related to the same transaction. Block producers are profit-driven and will choose the bid with the lowest fee. As a result, snarkers are forced to produce low-cost SNARKs.

Mina (MINA) aims to achieve an efficient distributed payment system that allows users to verify the platform directly from the genesis block, described in its technical white paper as a "succinct blockchain."
The protocol uses Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk-SNARKs), a cryptographic proof that allows someone to verify information without revealing the said information. However, tracking any network back to the genesis block might not be practical in a large network. Therefore, Mina (MINA) calculates SNARKs incrementally, focusing only on the last few blocks. This means that end-users check the zk-SNARK compressed proof of any block instead of its entire transaction history.
At the heart of the Mina protocol is its native token, MINA, which functions as an auxiliary token and medium of exchange.

Transactions in Mina start when a user initiates a transaction, then goes to the mempool, a pool of valid but unconfirmed transactions.
Then, snarkers take control by making proofs or SNARKS. The transaction continues with the selection of a block producer (BP) to aggregate transactions into a block. It should not be forgotten that a BP sifts through the mempool for profitable transactions.
Next, the block producer selects a SNARK according to the rules in the consensus mechanism.
It should also be noted that a block producer scans bids for the lowest-priced SNARK. Additionally, there is an updated SNARKS order book in the most recently added transactions. Then comes the time to include SNARKS in a block, then add the block to the chain, and update the network. Afterwards, snarked transactions are removed from the chain to help maintain the protocol's size constant, and the block producer upgrades the protocol's zk-SNARKS. Finally, the new block becomes an immutable part of the chain.
To take a closer look at the route through which a transaction is made before it becomes a permanent record on the Mina (MINA) blockchain, it is described step by step as follows:

As of the date this article was written, the live Mina (MINA) price is $5.91 USD with a 24-hour trading volume of $191,137,153 USD. Mina (MINA) has decreased by %4.85 in the last 24 hours. With a live market cap of $1,402,531,383 USD, it ranks 81st at the exchange from which the current data is sourced. It has a circulating supply of 237,251,135 MINA coins, and the maximum supply is not available.

The use of zk-SNARKS allows the verification of the Mina (MINA) state without revealing the content of the blockchain, thus offering a censorship-resistant platform.
Moreover, zk-SNARKS significantly contribute to maintaining a network of fixed size, allowing scalability, security, and decentralization.
The presence of various critical participants like snarkers, block producers, and validators helps streamline different protocol functions.