Three Arrows-Backed 'Lightweight' Blockchain Mina Launches Mainnet

The mainnet for a blockchain that discards its own blocks is now live.

Mina, a proof-of-stake protocol designed by O(1) Labs, announced the launch of its mainnet Tuesday, according to a release shared with CoinDesk.

Self-titled as a “lightweight,” Mina has a fixed blockchain size of 22 kilobytes, which it maintains by discarding blocks as they elapse. Usually blockchains retain every block mined. Its unorthodox design employs a technology called “zk-SNARKS,” most widely known for its use by Zcash, to preserve its transaction record without saving every block.

Through its SNARK-powered applications – or “Snapps” – Mina aims to “bring new possibilities for internet privacy and data security,” said O(1) Labs CEO Evan Shaprio in a statement.

Mina boasts a long list of notable backers, including Three Arrows Capital, for whom the “lightweight” protocol is one of only four base-layer blockchain investments listed on its website, a group that also includes Bitcoin, Ethereum and Polkadot.

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Mina’s backers also include Polychain, Paradigm, Coinbase Ventures, Naval Ravikant and Bixin Ventures.

Concurrent with its mainnet launch, Mina announced its partnership with CoinList for its upcoming token sale.