Join Our Telegram channel to stay up to date on breaking news coverage
With its most recent development, the Mina ecosystem partnered with O(1) Labs to create zkOracles, a brand-new kind of blockchain oracle. Will the price of MINA spike as a result of this recent development and surpass its all-time high in the upcoming bull run?
This article will go through the most recent Mina Protocol advancement, MINA price forecasts, and the MINA high-profitability alternative.
The full MINA price prediction can be found in the video above, subscribe to his YouTube channel for additional crypto price predictions.
Mina Protocol Zero Knowledge Oracles
O(1) Labs, a Mina ecosystem partner, is creating zkOracles, a new kind of blockchain oracle. From the official YouTube channel of Mina Protocol the O(1) Labs Product Manager Brett Carter provides a high-level explanation of how are zkOracles different.
“What’s nice about using zkOracles on Mina, thanks to zkApps, is uniquely the two-step execution model. At first, we prove off-chain that we have some piece of information, and that we’ve performed some computation.
Then we pack it up into a small proof at which point it is verified on-chain. The first off-chain proving step is really unique because you can run a computation locally on your machine.
In the price feed use case example you can ask numerous APIs that you trust and average the prices across each other. With zkOracles, you’d be able to perform really sophisticated and exciting operations off-chain
and query the price as many times as you want without paying any cost. Only at which point you’ve received the price that you needed would you execute the on-chain portion — which is just a much more efficient architecture.”
Oracles bring real world information from Web2 on chain 🔮✨
But today, oracles rely on trusted parties or elaborate consensus schemes.
zkOracles represent a major leap toward trustless and private oracles through the power of TLS and ZK.
Learn more → https://t.co/xnv7lPCEri pic.twitter.com/Jmme3x5AQ8
— Mina Protocol (httpz) 🪶 (@MinaProtocol) March 23, 2023
He also responded to the topic of whether zkOracles’ development encounters any difficulties.
“Yeah – zkOracles are generally quite complex. One of the challenges is what I would describe as the MPC, or as we call it, the three-party handshake. The way that it works is you need three parties — the client (you), the end user, and the data provider (perhaps your bank or the price feed).
The notary needs to perform a little dance where all parties essentially talk to each other quite quickly in order to set up your request to the data provider. And it needs to preserve the privacy of your information all the way through this really elaborate process.
A solution like this has not yet been built so it would really be great to have the Mina ecosystem help us test this protocol and ensure its secureness. I’m also really excited for the Mina community to be able to build some really interesting tools that we haven’t even dreamt up yet with this.”
Many developers will be able to utilize zkOracles to quickly retrieve real-world data from websites on-chain and apply it in Mina’s zero-knowledge smart contracts, or zkApps.
See our guide to the best altcoins to buy now here.
MINA Price Prediction
As of today, March 25, the price of Mina Protocol is $0.813 with a 24-hour trading volume of $103.14 million and market cap of $710.05 million. The MINA price decreased -5.42% in the last 24 hours. Mina Protocol reached its highest price on Nov 11, 2021 when it was trading at its all-time high of $6.49.
According to technical analysis, the 200-day SMA for Mina Protocol will grow over the next month and reach $0.678 on April 25. The short-term 50-Day SMA for Mina Protocol is anticipated to reach $0.687 by April 25.
Popular momentum oscillator the Relative Strength Index (RSI) can determine whether a cryptocurrency is overbought (below 70) or oversold (below 30). (above 70). The MINA market is in a neutral position at the moment since the RSI value is 49.39.
MINA Alternative
Some of the oldest altcoins are crypto that have done well over the years. However, early-stage cryptocurrencies like Love Hate Inu also have a lot of upside potential due to its unique uses and are cheaper during their token presale.
One of the most exciting meme coins in the cryptocurrency world is Love Hate Inu. Users can stake and vote on meme polls on this platform in exchange for cryptocurrency rewards. The most current news pieces that are relevant can be voted on by token owners.
Every vote’s results are stored on the blockchain, assuring the fairness, transparency, and security of the process. Users must stake Love Hate Inu tokens (LHINU) onto the platform in order to vote in the poll. This makes sure that only community members may vote.
Are you concerned about LHINU's voting system? 😬
Well, stop worrying and listen up!💪
Votes are recorded on the blockchain via smart contracts, making them immutable and tamper-proof.🔒
So get some $LHINU today and be ready!💰😎🎉https://t.co/Pu2Bo8XmK6#CryptoCommunity
— Love Hate Inu (@LoveHateInu) March 25, 2023
The Love Hate Inu team will initially develop the polls, but gradually the community will be required to do it on their own. Users get LHINU tokens in exchange for their votes. These tokens can also be used to create unique memes. Guide on how to buy LHINU token here.
The third round of the project’s token presale has successfully raised over $1.8 million, and the cost for one LHINU token is currently $0.000095.
Related
- Love Hate Inu Presale Hits $1 Million Milestone: The Crypto That Lets You Vote on Celebrity Controversies and Earn Big (LHINU)
- 10 Best Altcoins to Hold Until Next Crypto Bull Run | Next 10x Crypto?
- New Crypto Presale Love Hate Inu Raises $1.5 Million, 24 Hours Before Stage 2 Sells Out
Join Our Telegram channel to stay up to date on breaking news coverage
