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Mina Protocol, a lightweight blockchain protocol, will launch a mainnet version candidate on March 16

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We are just one step away from the mainnet launch.

BlockBeats news, on March 7th, the lightweight blockchain protocol Mina Protocol (formerly known as Coda Protocol) issued a document stating that it will release its mainnet candidate on March 16, 2021 version (RC), and if all goes well, the candidate version will eventually become the Mina Protocol main network, in addition, all block rewards, SNARK fees, account balances, transactions, etc. of the candidate version will become part of the RC main network 。

After the RC is launched, it will be monitored for several days, and the RC will be officially launched after the following standards are met Upgrade to mainnet:

1. Network must be stable;

2. Necessary to deploy fixes not present Key alert;

3. The quality of the chain must be sufficient. If the quality is insufficient due to low participation rate, RC will not be promoted to the main network. Everyone must treat RC as the actual main network and Participate.

Mina is a zero-knowledge proof that uses ZK-SNARKs to encapsulate blockchains in a single, verifiable, lightweight An order-of-magnitude proof-of-concept protocol that can compress the size of the blockchain from hundreds of gigabytes to only a few tweets.

According to previous reports by Rhythm, Mina Protocol announced the distribution plan of MINA tokens on February 19, with an initial issuance of 1 billion tokens.

1. There is no upper limit on the supply of MINA, and all tokens Token holders can stake or entrust to receive their corresponding proportion of inflation;

2. The main network launch will allocate up to 1 billion MINA tokens (excluding future block rewards), these tokens will be fully unlocked within 8 years;

3. In the first year of the mainnet, with a locked Functional accounts will receive block rewards with a target annual inflation rate of 12%. The inflation rate will decrease over time, eventually reaching a steady state of 7%;

4. During the first 15 months of the mainnet, unlocked accounts will receive twice the block rewards that locked accounts receive. This incentivizes participants new to the network and unlocked token holders To stay true to the ecosystem.