The Mina Protocol (MINA) team recently shared details of a significant upgrade. The announcement titled “A big upgrade is coming” is driving the altcoin price.
Mina team adopts ZK smart contracts
According to the official announcement, Mina is preparing to bring powerful ZK smart contracts to the mainnet that will significantly enhance products built using MINA. Key features of the upgrade include greater privacy and the construction of zkApps for the altcoin network. According to details:
- Easier zkApp programmability with o1js – Previously “SnarkyJS” was a TypeScript library for writing ZK smart contracts.
- Safety and efficiency enhanced with kimchi – a new proof system.
- Removal of overloaded rewards – a temporary incentive to increase staking adoption in the early stages of the mainnet.
A major upgrade is coming to Mina soon 👀
TLDR — it’s bringing powerful ZK smart contracts to mainnet which will substantially increase community activity and products built using Mina.
Here is everything you need to know ↓
Key Features of the Upgrade:
➡️ Easier zkApp…— Mina Protocol 🪶 (@MinaProtocol) September 8, 2023
What’s changing in the altcoin network?
The upcoming upgrade is characterized by three key features. These include new applications for the altcoin network and its investors:
- Improved zkApp Programmability: The upgrade will simplify zkApp development through the integration of o1js. This tool was previously known as “SnarkyJS”, a TypeScript library designed to prepare ZK smart contracts.
- Introduction of kimchi. Mina is ready to adopt Kimchi, the new proof system that promises to increase both security and efficiency.
- Phase Out Overloaded Rewards. Mina offered hefty rewards in the mainnet’s early stages in an attempt to encourage staking adoption. However, this incentive is planned to be removed in the next upgrade.
Preparations started with testnet
In preparation for this momentous leap, Mina launched Testworld Mission 2.0. This altcoin testnet is divided into four separate parts, with the first two zkApp End-to-End (E2E) Testing and External Security Audit already completed. The remaining parts focus on Protocol and Performance Testing and final preparations for the upcoming upgrade.
Mina has seen significant advancements since its mainnet launch, particularly spearheaded by @o1_labs. His contributions include the adaptation of the Pickles recursive layer to Kimchi, ensuring universality, implementation of zkApp processing logic, and significant changes to complementary modules originating from zkApps. They also played a crucial role in equipping the o1js frontend to support zkApps and connect seamlessly to the protocol and proof system layers.
Upgrade news adds momentum to altcoin price
Ranked 86th by market cap, it was rising around 2.5% in the hours around the announcement. Meanwhile, the overall market, including BTC and ETH, is moving sideways with low volatility. The altcoin is now waiting for new buyers after the “major upgrade” announcement.
For detailed information about Mina Protocol (MINA) cryptokoin.comYou can access it from this article.
