Following a well-drafted selection process and regime, Mina Foundation and the Ethereum Foundation are set to present a contract worth $1.2 million to the =nil; Foundation’s Crypto3 group. The reward comes as an applause for verifying Mina’s Pickles SNARK located on the Ethereum Virtual Machine channel. The awarded project has helped Mina to earn a verified status on Ethereum and various channels like Polygon which are supported by EVM, helping the teams enhance their expansion in the virtual currency industry.
According to the announcement, the verified status will allow decentralized applications on other popular chains to seamlessly access Mina’s zk-SNARK-supported dApps called Snapps. The participating projects will enjoy access to a variety of lucrative features like privacy-centered data verification, safe logins, reliable proofs of lengthy computations, etc.
The Ethereum Foundation is a renowned NPO group that strives to popularize Ethereum and other related protocols. The project nurtures critical projects within the Ethereum and external cluster. The =nil; Foundation was designed to support cryptography projects by providing the necessary expertise to important projects. The Mina Foundation is an arm of the Mina Protocol, a popular blockchain network. The foundation provides grants to third party projects that help manage the core protocol.
Talking about the award, Evan Shapiro, the CEO of the Mina Foundation, stated that the team is super excited to join hands with the Ethereum Foundation and =nil for the crucial project. The verification of the Mina chain on Ethereum will allow developers to use SNARKs on the Ethereum network while creating DApp solutions. The teams will put in efforts to enhance the potential of digital verifiability and privacy on decentralized channels.
The verification of Mina on Ethereum can be seen as the foundation for designing a bi-directional link between the two powerful decentralized portals. The highly-anticipated link will facilitate secured and trustless verification of the Ethereum user accounts and dApps via Mina’s full nodes on web portals and mobile phones. The project will work as a tool for building safe bridges across multiple channels, facilitating high-end security through cryptography and zero knowledge proofs. The dynamic features help to provide strong guarantees on cross-chain networks.