Mina Protocol uses a proof-of-stake consensus mechanism called Ouroboros Samasika.
Consensus is the process by which the network determines which information will be retained in the blockchain. You can read about the difference between proof of stake (PoS) vs proof of work (PoW) consensus mechanisms in this blog post here.
Learn more about how Ouroboros Samasika works in this video, below:
Based on Cardano’s PoS Ouroboros, Ouroboros Samisika is a secure PoS protocol with some strong decentralization properties:
- Can resolve long-range forks without relying on third parties to provide history
- No staking minimum — You can produce blocks and receive block rewards based on your % of the MINA staked on the network. Any user with any amount of MINA can receive these rewards.
- No slashing — the protocol does not need explicit slashing, since the protocol already enforces the required level of correctness.
You can also learn how Ouroboros Samasika upholds Mina’s goals of decentralization here.