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Mina Protocol is a compact blockchain designed to reduce the computational load required to run decentralized applications. It is often referred to as the lightest blockchain because its size stays fixed even as usage grows, while still maintaining security and decentralization. Originally named Coda Protocol, it was rebranded to Mina in October 2020. The network's entire blockchain is only 22 KB, far smaller than Bitcoin's 300 GB chain.

Mina aims to create an efficient distributed payment system where users can verify the entire platform directly from its first block. This concept is called a 'succinct blockchain' in its technical whitepaper. It uses zk-SNARKs, a cryptographic method that allows verification of information without revealing it. Instead of checking every transaction, users only need to verify a compressed proof. The native token, MINA, serves as both a utility coin and a medium of exchange within the network.

Mina operates similarly to Bitcoin in terms of transaction handling but uses Ethereum's account model. Unlike Bitcoin's list of unspent coins, Mina tracks account balances. A 'snarker' acts like a miner, ensuring each block commits to the network's state. It uses Ouroboros Samasika, a proof-of-stake mechanism designed for succinct blockchains, allowing bootstrapping from the genesis block. The system has two main functions: verify and update. To speed up transactions, it groups unproven blocks and processes them in parallel using multiple provers.