Mina has introduced a novel approach to building a blockchain that is far lighter than any other blockchains using cryptography and recursive zk-SNARKs. This approach has the potential to enable any device to act as a full node and could lower the barrier for any participant to take part in Mina’s blockchain.
Frequently Asked Questions
Here are answers to some of the questions our community has asked us. Get in touch if there’s more you would like to know.
Mina is a blockchain that uses advanced cryptography and recursive zk-SNARKs to reduce its size. Mina’s mainnet launched in March 2021. To learn more, please see their technical whitepaper.
New blocks on Mina are proposed by validators. To enable Mina to run seamlessly, validators need the technical capabilities to offer a secure, always on infrastructure.
Not everyone is able to do this. Some token holders participate indirectly by delegating the tokens they have to a validator. Validators are running a service for delegators. They typically charge a fee to cover their operational costs.
By delegating MINA, you help secure the network. You get part of the rewards provided by the protocol for this assistance. If you are planning to hold on to MINA for some time, delegating will help you accumulate more MINA while contributing to the health of the network.
You are not giving away ownership of MINA by delegating. As a validator, stakefish will never have the ability to move your MINA.
Mina does not have any slashing mechanism that will penalize validators or delegators. However, if a validator does not perform, that validator will lose out on earning rewards.
We charge 8% from the block rewards received by our delegators. For example, if a delegator receives 100 MINA as a reward, stakefish will receive 8 MINA while the delegator will get 92 MINA.
Undelegating (also called unbonding or unstaking) can be done anytime by transferring your MINA to another address. However, since there is a delay on how the protocol perceives staking balances, you may receive some staking rewards on your address even after you have undelegated.
If you have any questions about staking or our validator services, please do not hesitate to reach out to us. We are happy to talk with anyone and help navigate community members through this exciting new ecosystem.Get in Touch