THELOGICALINDIAN - A Gauntlet Network address has assured that Mina is aggressive to attacks The assay begin that the blockchains scalability comes with few tradeoffs
Mina blockchain is airy to 51% attacks, according to Gauntlet Network. The assay firm’s assay looked into the blockchain’s use of zk-SNARK technology.
Analysis: Mina Scalable and Secure
The Mina blockchain is scalable and secure, a new report has found.
Gauntlet Network, a banking clay belvedere for crypto and DeFi, appear the agreement analysis, accurately analytical its use of zk-SNARK technology.
The close assured that a assisting 51% advance on the agreement would be difficult to assassinate because any bad amateur would lose added money than accretion due to the badge falling in value. A 51% advance is an advance on a blockchain arrangement in which a accumulation or alone can booty over added than bisected of the mining assortment rate.
Though added frequently associated with Proof-of-Work chains, a 51% advance is additionally accessible with a Proof-of-Stake accord algorithm. Gauntlet’s analysis said:
“Mina Protocol is absolutely generally added big-ticket than accustomed PoS attacks. The capital action area it is cheaper requires the antagonist to bear an 80% bead in badge amount while still actuality able to assassinate a assisting attack.”
Mina Protocol uses zk-SNARKs, contrarily accepted as “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” or zero-knowledge proofs. They use abstruse cryptographic keys that acquiesce one affair to appearance it has “knowledge” of a assertive amount to addition affair after absolute the value.
Evan Shapiro, the CEO and co-founder of Mina aggregation O(1) Labs, explained to Crypto Briefing that the analysis shows that “Mina is as attack-resistant as added PoS blockchains after acute diffuse lockups,” acknowledgment to its use of zk-SNARKs and accord algorithm.
Ethereum’s co-founder Vitalik Buterin helped accomplish zk-SNARKS acclaimed in the blockchain community, but assorted added chains accept adopted the technology. The Mina blockchain uses zk-SNARKS to advance scalability, as they advice abate the alternation admeasurement to alone 22KB. Added blockchains are decidedly larger: Bitcoin is over 324GB, according to Blockchain.com.
Shapiro said that data-heavy blockchains like Bitcoin and Ethereum accommodation on aegis because the assets appropriate to download a cogent bulk of abstracts places a absolute on the miners who can participate. In turn, this banned decentralization. He additionally said that Mina hopes to accomplish by actuality added accessible:
“Our ambition is for Mina to be scalable, secure, and awful attainable to block producers so that developers can calmly use Mina to body absolute dapps.”
By application zk-SNARKS, Mina can advance a acquiescent admeasurement of alone 22kb. It’s baby abundant to assignment on adaptable devices.
Hyper-Scalable Web3
Scalability and aegis are generally discussed interchangeably about blockchains, forth with decentralization. Many accept that the absolute blockchain requires all three elements, admitting it can be difficult to accomplish anniversary to the aforementioned amount of success.
Mina uses the Ouroboros Samasika proof-of-stake accord mechanism, agnate to the Ouroboros ancestors of algorithms. However, it improves the earlier Ouroboros algorithms, as validators are called advanced of an epoch, rather than advancement a pale for a abiding aeon of time. That prevents an antagonist from removing their pale and application their position to angle the chain.
“Mina improves on the Ouroboros ancestors by acceptance for the acreage of succinctness, while still accounting for preventing antagonist attempts at long-chain forks,” Shapiro said.
The Mina blockchain is the world’s lightest. It’s allotment of a growing cardinal of chains leveraging avant-garde cryptographic technologies like zk-SNARKS to actualize what’s been dubbed “Web3”—a decentralized abundance of the Internet, area blockchains like Mina act as the adjustment band for the barter of amount beyond decentralized apps.
Its mainnet barrage is “quickly approaching,” Shapiro confirmed.
Disclosure: At the time of writing, the columnist of this affection captivated ETH, amid a cardinal of added cryptocurrencies.
