For details about delegating with our institutional partner, check out our full delegation and staking guide.
Delegating via CLI
Second, make sure you’ve unlocked your account and enter the following in the terminal:
mina account unlock -public-key $MINA_PUBLIC_KEY
Then run this command to delegate your stake:
mina client delegate-stake \ -receiver <DELEGATE-PUBLIC-KEY> \ -sender $MINA_PUBLIC_KEY \ -fee 0.1
Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.View Guide
Mina bills itself as the “world’s lightest blockchain”. Current cryptocurrencies like Bitcoin and Ethereum store massive amounts of data on their blockchains, and will only continue to increase in size. Mina however, claims that their blockchain will always stay the same size (about 20 kilobytes), no matter the usage. This will allow the blockchain to be downloadable by anyone who has basic storage and internet access.
Because of its size, we could potentially see Mina’s tech everywhere. It could, theoretically, run on any native browser or phone without having to download any extension or trust additional 3rd parties. This would dramatically reduce the resources necessary to verify a chain’s history, which would increase the number of transactions a protocol can process.
Mina plans on doing this by combining recursive composition with zero knowledge-succinct non-interactive argument of knowledge proofs, or zk-SNARKs. zk-SNARKs let Mina create a proof of computation, and then share it with anyone. This will create an unforgeable certificate that transactions are performed correctly, without proving the entire computation.
Individual tokens on the network will be called Mina. The initial supply of Mina will be 1 billion. There will be 3 types of roles within the Mina network, Verifiers, Block Producers and Snarkers.
Verifiers can improve the validity of the network by downloading a zk-SNARK, which will certify consensus information. Block Producers are similar to miners or stakers in other networks. They are incentivized by block rewards, and network fees, which are paid by users. Snarkers produce zk-SNARKS that verify transactions.
More information on the relationship between Verifiers, Block Producers, and Snarkers can be found in Mina’s recently released Economic and Monetary Policy Whitepaper.
Current cryptocurrencies like Bitcoin store massive amounts of data on their chains, and will only continue to increase in size,...
The Staking Hub Mina AMA occured on Sep 23, 2019, Evan Shapiro, Pranay Mohan, and Emre Tekisalp joined us to...
Figment is proud to announce that we have been invited to join Mina as a Genesis founding member leading into...
O(1) Labs, the team behind Mina, bills Mina as the “world’s lightest blockchain”. On April 30th, the team joined us...
Mina aims to solve the decentralization and scalability dilemma by leveraging verified proofs of computation called zk-SNARKs.
Staking MINA will allow MINA token holders to earn rewards while helping secure the network. Ready to stake? Our guide...
The Mina token.
Staking rewards are enabled at the launch of the mainnet.
Token holders who stake or delegate without a bonding or lock-up period.
You can self-custody your Mina tokens, ideally using a Ledger hardware wallet.
Figment has partnerships with a number of top-in-class custodians: email@example.com
The Mina protocol takes control of your MINA tokens while you are staking. If you unbond your tokens, this process will take X days before the protocol returns your tokens to you.
No. Mina’s protocol is founded on the Ouroboros algorithm. Slashing is based on regulating the irrational behavior of validators by threatening them economically (aka. threatening their stake if they are caught with downtime or double signing). Ouroboros, by design, incentivizes all stakeholders to act rationally.
Rewards can be automatically staked, and payouts are handled by the validators. Validators can choose not to send rewards, or send them when it suits them.
While there isn’t any slashing, delegators will not gain rewards if their validator goes offline.
Mina’s inflation will begin at 12%. Over the next five years, the inflation rate will fall to 7% – unless specified or changed through governance.
Details about governance have not been released yet by the team.