Zilliqa (ZIL) the Next Generation, High Throughput Blockchain Platform

Zilliqa (ZIL) the Next Generation, High Throughput Blockchain Platform

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Zilliqa is a project that aims to tackle the problem of scalability by revolutionizing the technology behind sharding.

It does so by implementing a sharding solution that scales with the network’s size via a method called linear scaling.

This means that, at least in theory, there’s no limit to the number of transactions that the platform could process per second.

Zilliqa ran an ICO where they raised $22M in January 2018.

Usage and Tokens

ZIL is currently ERC20 token but once the mainnet is launched, ZIL will be moved to the Zilliqa blockchain and used as an incentive for miners to verify transactions, pay for transaction fees, and pay for smart contract execution.

Scalability is a very real problem in today’s blockchain industry, and Zilliqa is offering a head-on solution.

It uses a variety of features like sharding where the data is esentially split and also hybrid consensus algorithm which mixes Proof-of-Work with Practical Byzantine Fault Tolerance.

Like every blockchain project Zilliqa includes smart contracts as well.

Development

Testnets versions 1.0 and 2.0 have been released. With 2.0 being released around 2 months ago. It concentrates on encouraging people to start programming applications in Scilla programming language.

The release of the mainnet has been at the end of 2018 or January 2019 with the first dapps following soon after.

They recently provided updates about the Project Proton which is an initiative between several important Zilliqa partners mostly from advertising. In Project Proton, they will explore solutions for advertising on the blockchain.

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