Zilliqa Price & Charts
What Is Zilliqa ?
Zilliqa is a decentralized blockchain designed to scale in a distributed network securely via sharding. Sharding is the key feature which means dividing the network into smaller parallel component networks called shards, and it’s capable of processing transactions in seconds. As more mining nodes are added to the network, the need for the blockchain to process every transaction faster and securely arises; that’s where scaling becomes imperative. Zilliqa was introduced to solve scaling problem, the design of the smart contract is revolutionary with the highest possible parallelism.
Zilliqa is the perfect platform for dApps that require high transactions such as payment networks, digital advertising supply chains etc. The Zilliqa team introduced other proposals for scaling which include re-parameterizing block sizes and moving transactions off-chain.
Benefits Of Zilliqa
- Zilliqa offers cryptocurrency users, a blockchain platform that has the capabilities to host various transaction at the same time and very high speed.
- The smart contract of Zilliqa enables cryptocurrency users to enjoy high-security framework for their blockchain transactions. Their identities remain anonymous, and their currencies remain safe.
- The smart contract is built with a high level of parallelism that enables cryptocurrency users to enjoy a high speed of blockchain transactions and other features
- The blockchain platform is designed to be scalable, making it easy to adapt and suit the needs of the users.
Zilliqa’s team is made of highly resourceful professionals cut across the different field of endeavours with significant experience in management, cybersecurity and blockchain. Mr Xinshu Dong is the Chief Executive Officer, he has PhD in Computer Science and has handled so many projects on cybersecurity internationally.
Other team members include Prateek Saxena who is the Chief Scientific Advisor, Yaoqi Jia
as the Senior Head of Technology, Amrit Kumar as the Head of R & D, Ong En Hui
as the Senior Business Development Officer, Juzar Motiwalla as the Chief Strategist and other members. Please, visit the website for the comprehensive list.
The advisory board of Zilliqa is made up of reputable names in the cryptocurrency industry which include Loi Luu , who is the co-founder of Kyber Systems, Vincent Zhou who is the founding partner of FBG, Nicolai Oster who is the Senior partner at Bitcoin Suisse, and Alexander Lipton who is the founder of StrongHold Labs.
Practical Uses of Zilliqa
- Zilliqa supports dApps that require higher transaction rates as a result of its’ scalability.
- Zilliqa is used for payment networks, high-volume parallel auctions and digital works.
- Users deploy Zilliga’s customized blockchain platform to meet their business needs.
Mining of Zilliqa
Zilliqa adopts a method that makes mining more efficient, i.e. less energy consumption. It uses PoW of merits with a Practical Byzantine Fault Tolerant protocol. The step to mining is to use PoW to set-up identity, followed with the assigning to a consensus group where multiple Practical Byzantine Fault Tolerant (PBFT) protocol is run. One functional PoW registers multiple blocks to the chain thereby providing more guaranteed rewards.
Zilliqa mining has less impact on the environment as a result of lesser energy consumption, unlike other PoW based blockchains. One of the benefits of Zilliga mining is that the total cost of energy per unit mining is constant as the network size increases. This is different with Ethereum or Bitcoin, where the cost of energy per transaction increases as the network increases.
Notes for Investors
The current price of Zilliqa (ZIL) in the parallel market is USD 0.057330, an all-time high of 11.58% and the market cap is USD 417,595,390. The total volume sale is USD 34,730,900, and the circulating supply is 7,284,013,186 ZIL. The market performance shows that Zil will make an instant hit before the end of 3rd quarter of this year.
Considering the Zilliga’s high blockchain technology regarding performance and governance and the calibre of the people behind it, the price potential of ZIL will improve.
DISCLAIMER: Cryptocurrency market is unstable and unpredictable; it is advisable to research and seek advice whenever you want to invest in any cryptocurrency. This report shouldn’t be taken as an endorsement of Zilliga. It is a mere expression of the writer’s views.