The developers of Mina have exciting news for the cryptocurrency community, as they’ve announced a significant update that will soon be implemented on their mainnet. This update is the result of recommendations and voting from the Mina altcoin community, and it aims to introduce robust zero-knowledge (ZK) smart contracts to the platform.
According to the developers, this update will empower developers to create zkApps (zero-knowledge applications) that are not only secure but also highly efficient and programmable.
ZK smart contracts represent a groundbreaking development in the world of blockchain technology. They rely on ZK proofs to verify transactions without revealing sensitive input and output information, enhancing privacy and security.
Mina (MINA) Developers Prepare for Upcoming Major Update
The upcoming Mina update will bring several noteworthy features to the platform:
- Enhanced Security and Efficiency: The update will introduce “Kimchi,” a new proof system that offers improved speed and versatility compared to its predecessor. This advancement is expected to enhance the overall security and efficiency of Mina’s protocol.
- Removal of Supercharged Rewards: In the early stages of the Mainnet, supercharged rewards were introduced as a temporary incentive to boost staking adoption. With this update, these incentives will be removed, reflecting the platform’s maturation.
- Streamlined zkApp Programmability: Mina’s developers are introducing “o1js” to simplify the creation of zkApps. Previously, developers relied on “SnarkyJS,” a TypeScript library for crafting ZK smart contracts.
Currently, the update is in the testing and auditing phase within Testworld Mission 2.0, which consists of four parts. The first two phases, zkApp End-to-End (E2E) Testing and External Security Audit, have already been successfully completed. The development team is diligently working on the remaining two segments: Protocol and Performance Testing, as well as “Preparation for the Upcoming Upgrade.”
Please note that this information is not intended as investment advice.