Introducing MINA token project. MINA token is the native cryptocurrency and utility token of the Mina protocol. We can group the functions of MINA token under three headings:
Staking: Users can run nodes and stake MINA tokens to help secure the network in exchange for staking rewards. Alternatively, users can indirectly stake their tokens by authorizing a third-party staking service.
Network transaction fees: Users pay network transaction fees required to interact with Snapps (dApps) on the Mina network with MINA tokens.
Block production: Block producers are validators who reach consensus and provide security to the blockchain. They earn block rewards for staking MINA tokens and producing new blocks on the blockchain.
Who are the founders of the Mina project?
The Mina protocol began to be developed by O(1) Labs under the name Coda Protocol in June 2017. Three years later, after intensive ‘testnet’ trials and developments, the final version appeared in October 2020.
The CEO of O(1) Labs is Evan Shapiro. Shapiro, a young computer programmer, previously worked at Mozilla. There is also a Turkish name in the Mina team. Emre Tekişalp starts his career at Intel after completing his undergraduate education in Turkey. Tekişalp, who was introduced to blockchain technology and cryptocurrencies in 2015, joins the Mina protocol team after his work at Ripple.
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