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Mina Video Simplification | PART 1

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11 months ago

MINA

We know that Web3 projects are struggling to make complex things simple.

So, I've taken the initiative to create a simplification of the 2-hour 30-minute video about Mina.

https://www.youtube.com/watch?v=-fG0JLtYlJE&t=1s

It's a lot of work to create this, so don't hesitate to subscribe to my newsletter and follow me on X.

Little introduction

If you didn't know, MinaProtocol is a decentralized system, in other words, a blockchain.

Mina is an innovation in this ecosystem with advanced technology to ensure security, scalability, and privacy.

To start the video, the speaker talks about different general concepts of blockchain and where to find Mina Protocol.

So, let's start here.

General Concept

Different type of system.

There's a different system in the blockchain space.

Replicated and Permissioned Systems

To make that simple:

Replicated means the data is copied on different servers.
Permissioned means you need permission to access the data.

It's very useful to always have a backup of the data. If a server is down, we can access the data on another server. Maximum security.

Distributed and Permissioned Systems

To make that simple:

Distributed means the data or tasks are shared between several servers.
Permissioned… You already know.

It's perfect for environments requiring scalability and high performance. Maximum speed.

With this in mind, we can now compare a replicated, permissions-free system with a distributed, permissions-free one.

Ethereum is a Replicated and Permissionless system.

Each network node copies and verifies transactions and data.

This system makes networks ultra-secure, and everyone can verify activity.

But it's very slow and very expansive as the network grows.

MinaProtocol is a Distributed and Permisionless system.

Data and tasks are shared between several nodes, not necessarily copied to each node.

Mina is the only system that is both distributed and permissionless, with rapidly verified and aggregated evidence.

This system enables faster, less costly processing and can easily adapt to an increase in the number of users and transactions without requiring many more resources.

However, it's very complex to implement and maintain this. This complexity is largely responsible for the 3-year delay of the Mina Hardfork.

Zero-Knowledge Proof

In the video, the speaker explain what is Zero Knowledge Proof. If you’re familiar with Mina and the ZKP technology you know what is it. But for the no-familiar of this tech, there is a simple explanation:

The principal concept

Zero-Knowledge Proof enables the possibility to prove information without revealing it.

Example: To enter a nightclub, you must prove your age, but you currently show your ID card with all your information like address, name, date of birth, etc.

With ZKP technology, you can generate a proof that certifies your age without revealing it or other sensitive datas.

Zero-Knowledge Recursive

It's the technology used by Mina Protocol. To be more precise, Mina Protocol uses recursive zkSNARKs.

In simple terms, many proofs are grouped together into a single proof.

Example: Imagine you're shopping and you use one bag for each item. It's not the most efficient method, so you start grouping several items together in a single bag.

Now you understand the general concept of recursive zkSNARKs.

If you want to learn more about that, you can go to my other post here: zk-SNARKs Easily Explained

Recursion vs Aggregation

The difference betwen recursion and aggragation is explained for understand the power of recursion.

Aggregation

Proof aggregation involves combining several proofs into a single proof. To do this, we need to know all the original information (the individual proofs) and combine them to create a single proof.

Recursion

Proof recursion allows you to create a series of proofs where each new proof uses the previous one as a basis. This makes it possible to verify information step by step without needing all the information from the outset.

How the Mina blockchain works

Let's take a look at some of the video's complex technical concepts.

If you're an investor and think you don't need to read this, you're completely wrong.

State Transition Model

The "State Transition Model" describes how the global state of the blockchain changes with each new transaction recorded in the blocks.

In simple terms, the blockchain is a series of blocks that show how the global state changes over time.

Let’s see how it works:

Each block of the blockchain records a series of transitions (transactions).
These transitions modify the overall state of the blockchain.

State and Transition:

Imagine the global state of the blockchain as a big picture of all the accounts and their balances. Each account has a certain balance at any given time.

A transition is like an action or event that changes this big picture. For example, when someone sends money from one account to another, that's a transition.

Each block of the blockchain contains several such actions.

A little example to illustrate all of this:

Initial state:

Account A: 10 units Account B: 5 units

Transition (Transaction):

Account A sends 3 units to Account B.

New state (after transition):

Account A: 7 units Account B: 8 units

Proof of Consensus

The “Proof of Consensus” is how Mina processes transactions.

There are two layers of proofs:

Transaction Layer (States):

This layer manages and records transactions between accounts on the blockchain.

It ensures that information on money transfers, status changes, etc., is correctly processed and updated.

Consensus Layer (Validation):

This layer ensures that all transactions and blocks added to the blockchain are valid and approved by the network.

It uses mechanisms such as Proof of Work and Proof of Stake to validate transactions. Its role is to guarantee that all network participants agree on the current state of the blockchain.

These two layers work simultaneously to increase scalability and speed.

While the transaction layer manages new transactions, the consensus layer validates these transactions in parallel.

A little example to understand:

Transaction:

Alice sends 2 units to Bob.

Transaction Layer:

The transaction is recorded and the account statements are updated (Alice's balance reduced, Bob's balance increased).

Consensus Layer:

The network validates the transaction to ensure that Alice has the 2 units to send and that the transaction is legitimate. If validated, the transaction is added to the block, and this block is added to the blockchain.

In conclusion, the transaction layer manages state changes (such as money transfers), while the consensus layer validates these changes to ensure they are correct and accepted by the network.

The two layers work in parallel for greater efficiency, ensuring that the blockchain remains fast and secure.

Ouroboros & Transaction finality

The "Ouroboros Consensus" ensures the security and irreversibility of transactions by adding blocks after a transaction, with an increasing probability of irreversibility.

The probability reaches 99.9% after 15 blocks and 100% after 290 blocks.

Probabilistic finality means that a transaction becomes increasingly irreversible as new blocks are added after it.

The more blocks added after a transaction, the more unlikely it is that the transaction will be canceled or modified.

In the Ouroboros protocol, after 290 blocks have been added to a transaction, it can be considered absolutely irreversible.

This provides the maximum guarantee that the transaction is definitive.

After just 15 blocks, there is a 99.9% probability that the transaction is irreversible.

This means that, although it's not an absolute guarantee, it is extremely unlikely that the transaction will be reversed.

A little example to illustrate:

Initial Transaction:

Alice sends 5 units to Bob.

Adding Blocks:

Block 1: Records the transaction from Alice to Bob.
Blocks 2 to 15: New blocks are added after the initial transaction.
Blocks 16 to 290: Continuation of new block additions.

Probabilistic Finality:

After 15 blocks: The transaction has a 99.9% chance of being irreversible.
After 290 blocks: The transaction is considered absolutely irreversible.

In conclusion, the Ouroboros protocol uses probabilistic finality to secure transactions. 15 blocks added after a transaction offer 99.9% finality, while 290 blocks guarantee absolute finality, making the transaction totally irreversible.

Mina’s Workers

Snarks workers are entities or nodes in the network that create cryptographic proofs called SNARKs (Succinct Non-interactive Arguments of Knowledge). These proofs are used to validate transactions without needing to verify all the details, making the process faster and more efficient.

Block producers are responsible for gathering validated transactions and including them in a new block to be added to the blockchain. To ensure that transactions are valid, they purchase the proofs created by Snarks workers.

How do these two roles work?

When a transaction is initiated, Snarks workers create a cryptographic proof for that transaction. This proof confirms that the transaction is valid without revealing all the underlying details.
Block producers buy these proofs from Snarks workers. They use these proofs to quickly verify transactions before including them in a block.
Once the transactions have been validated by the proofs, the block producers assemble them into a new block. This block is then added to the blockchain, ensuring that all transactions included are valid and secure.

A little example to understand:

After the transaction: Alice sends 5 units to Bob.
A Snarks worker creates a proof for this transaction.
A block producer buys this proof.
The validated transaction is included in a new block.
The block is added to the blockchain.

We arrives at the moment that all wait. The advantage and inconvenient.

ADVANTAGES

Lightweight: Very light, it can be synchronized quickly and easily.
Secure: Uses zero-knowledge proofs to secure transactions.
Decentralization: No need for permissions to participate, increasing resilience and accessibility.

INCONVENIENTS

Technical Complexity: Advanced technologies such as zero-knowledge proofs can be difficult to understand and implement.
Developing Ecosystem: Compared to other more established blockchains, Mina's ecosystem is still growing.