About the Zilliqa coin project:
Zilliqa coin was founded in 2017 by professors from the University of Singapore, and 22 million dollars were collected in the initial sale phase. The total number of the coin is 21 billion pieces, of which nearly half are currently in circulation, and the beginning was as a token on the Ethereum network and then moved to its own network.
Zilliqa coin was one of the first currencies to put forward a solution to the problem of increasing the size of blocks on the blockchain and slowing down transfers. It provided a unique solution through hash technology that allows the blockchain to expand in a linear manner with the growth of the network size and its ability to deal with a huge volume of transactions, making it suitable to meet the needs of companies And institutions.
In addition to the use of well-studied and well-established mechanisms to verify the authenticity of transactions, using a smart digital language called Scilla, through which transactions are reviewed before pairing to be safe. This programming language addresses many of the known security vulnerabilities that still prevail in other digital languages and in all Confirmation Zilliqa coin can also process transactions in a decentralized manner and its network structure allows the platform to remain decentralized as it continues to grow and expand.
What is hash sharding?
Zilliqa seeks to overcome the limitations of scaling blockchain using hashing, which divides blockchain networks into parts, allowing multiple transactions to be processed simultaneously, not only improving scalability, but also increasing the sheer amount of computing power.
How does Zilliqa achieve this scalability?
The Zilliqa protocol divides the number of mining nodes on the network into 600 groups of nodes, each group is referred to as a part. In conjunction with the other parts, these parts verify the authenticity of "small blocks", then the small blocks are combined to create a single block on the blockchain. This aims to increase the speed of processing transactions. All of these parts are responsible for processing a small portion of network transactions. The mining nodes are divided into groups of 600 as the number of segments increases, the greater the division of the consensus burden. The parts deal with transactions separately instead of dealing with them as a group. This allows for many transactions to be processed, and this also means that the network will process transactions faster as it grows.
What features does Zilliqa provide to dApps and miners?
Due to Zilliqa's special design that includes proof of work, hashing and pBFT, mining at Zilliqa requires a different setup compared to mining on Bitcoin or Ethereum.
The mining network is divided into several consensus groups, each of which is able to process transactions simultaneously. As the network grows, the hash allows the maintenance of a constant cost-per-transaction value. The graphics card does run for some relatively small intervals, and will remain idle for the rest of the time.
Firstly: compared to other proof-of-work blockchains, it is a more energy-efficient method of mining. Collectively, approximately 12 hours of proof of work are required every month.
This type of mining is more environmentally friendly than traditional methods, and it also reduces the electricity bill significantly.
Zilliqa stack:
Storage and staking: The currency can be stored in several wallets and give users a rewarding return with the same currency in addition to the general benefit of the Zelika community through Zillacracy and other wallets that work with Zelika.
As for how staking works, send your zils to your own wallet and start staking via https://stake.zilliqa.com/ or moonlet so you can enjoy zil + gzil rewards.
Zilliqa's upcoming partnerships and plans:
Zilliqa has a number of notable partners including DMM, Mindshare, LayerX, and Asteria. Project Proton could be Zilliqa's most exciting partnership.
A major partnership between Zilliqa and Mindshare, the global media planning and procurement company, and many other companies, the goal of this project is to create opportunities for the application of blockchain in automated advertising.
Partnership with many decentralized applications, the most important of which is Unstoppable Domain, the project sponsored by Zilliqa and Ethereum to provide zil domains. And eth.
The currency has made partnerships in all major directions and has signed a cooperation document with the Singapore government via ACCESS and the Singapore Blockchain Association.
BOLT is one of the most exciting projects on the Zilliqa network, featuring a streaming app, an Android app, and has over 3 million users in their database using live TV and short video on the platform.
Financial applications: Zilswap, Zilpay and Zyro Finance. It is worth noting that the Zilswap project is one of the important projects that give the possibility of converting the currency to any other currency at a lower cost than its counterparts such as Uniswap in addition to the bonuses that users can obtain.
The HG platform HG Exchange aims to be a one-stop shop for token issuers, buyers and sellers that provide users with access to private securities and security tokens with an exchange that aims to bring together the traditional and crypto markets.
Zilliqa Research's focus is to lead the research and development of the platform from initial implementation to a complete public blockchain platform.
Future updates will add privacy features across zkSNARKs, allowing high-level programming languages to communicate, support for more cryptocurrency wallets, more services, and core blockchain partnerships.
Zilliqa developer team:
Zilliqa's team is made up of highly educated people with a PhD in Computer Science. The team consists of a diverse group of experts in areas such as networking, distributed networks, high-quality software, cybersecurity and cryptography. Here's a peek at the team's make-up.