mina ecosystem raises 92m to build the lightweight blockchain for web3

The Mina ecosystem has raised $92 million to create a lightweight blockchain for Web3.

The Mina Ecosystem raised $92 million from FTX Ventures and Three Arrows Capital through strategic and private MINA sales, with FTX’s participation marking the venture fund’s first substantial investment in zero-knowledge-based smart contract technology.

Mina bills itself as the world’s lightest blockchain, driven entirely by its users. It’s a Layer-1 blockchain that makes it simple to construct zero-knowledge smart contracts, or zkApps. The recent attention brought to zk-rollups as a scaling solution to Ethereum’s high gas prices has popularised zero-knowledge proofs (ZKPs).

Funds will accelerate ecosystem growth and expand the grants program