Zilliqa is leading the crypto-market expansion

7 19

Written by

#Club1BCH

3 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Do you know anything about Zilliqa? You know that Zilliqa sharding mechanism is leading the crypt-market to expansion?

Over the last days almost everyone was talking about Compound, BAL and Zilliqa. With most off the attention and covering on the first two, the third one drew my attention, due to the low price and innovative concept. The Zilliqa block-chain platform is tailored towards enabling high-throughput data-driven decentralized apps, designed to meet the scaling requirements of applications in areas such as digital marketing, payment, shared economy and rights management.

What is Zilliqa?

Zilliqa is a new public block-chain platform for high-throughput applications, which brings the theory of sharding to practice with it's brand new and innovative protocol. As the crypto market expands, Zilliqa will increase the speed of transactions to match the expansion, offering a high-performance, high-security platform for the next-generation applications. The enterprises and those who wish to build decentralized applications will find in Zilliqa the perfect scalable and secure platform.

The latest block-chain experiment proved that the Zilliqa platform achieved a throughput of more than 2,800 transactions per second, which is over 200 times higher than that of today's most popular block-chains. In addition to its scalability, Zilliqa provides a secure and efficient smart contract language called Scilla to enable security-by-design smart contract programming and verification.

Zilliqa - behind the scenes

The Zilliqa project is backed by a team of tech entrepreneurs, academics, senior engineers and venture capitalist. The block-chain technology has been first incubated at the National University of Singapore, and then developed for commercial trials, before being applied to Zilliqa’s public blockchain platform. The project was the first public block-chain platform in the world to successfully utilize sharding as a scaling solution, allowing the block-chain to scale in a linear fashion.

The MainNet was launched on 31st of January 2019, followed by Token Swap and Anchor DApps. For the rest of 2019, the tech team enhanced the core protocol and Scilla. The investment platform Fundnel teamed up with Zilliqa to create a private investment exchange in Singapore. HG Exchange was the first member-driven exchange in Southeast Asia, acting as a bond between leading financial intermediaries and technology innovators.

Over 60 project teams from over 20 countries have contributed to the Zilliqa's ecosystem. The whole Zilliqa platform is powered by the first peer- reviewed and safe-by-design smart contract Scilla, and by using functional programming design principles allows it to be more friendly towards static checks and formal verification. The ecological footprint of mining was been reduced using Eco-Friendly Dual Mining. Zilliqa Improvement Proposal (ZIP) 3 outlines the details of the staking service that is currently being built for the core protocol.

How sharding works?

Sharding is one of several popular methods being explored by developers to increase transactional throughput. The sharding will use partitioned data to spread out the computational and storage workload across a peer-to-peer (P2P) network. The process will reduce the pressure on nodes, and share the network's transactional load to multiple nodes in the same time. Each node only maintains information related to its partition, or shard, and the information will be completed when the fragments will be collated. The information contained in a shard can still be shared among other nodes, which keeps the ledger decentralized and secure because everyone can still see all the ledger entries.

HILHive

Zilliqa compiled many tools under a single name - ZILHive. The Hive unites all the Zilliqa initiatives, the accelerators, grants and educational programmes under the same roof, opening the door to gifted people to join the project. The platform offers a supported, resource-based library for developers, learners and enthusiasts, which aims to inspire the community and drive enterprise adaptation of blockchain.

Meet the team

Zilliqa price, analysis and forecast

The current price per unit is $0.019, making Zilliqa a cheap investment option. The token is ranked 41st in the Market Cap Rankings, and the All-Time High was achieved on the 10th of May 2018, at $0.230307. The All-Time Low was reached three months ago, on the 13th of March, when the value dropped at only $0.0024.

The Zilliqua circulating supply is just over 50%, with lots still to be mined. The token is available for sale on Binance, Bittrex, Huobi, Bitfinex, Okex, Poloniex and Kucoin.

The price forecast is positive, with a growing trend prediction for 2021 and 2022. Similar to many new tokens, backed by an innovative project, Zilliqa will keep growing and gain force with any new partnerships obtained by the Zilliqa Project.

Conclusion

As usual, I am talking and sharing my opinions on projects which I believe to have a big chance to be successful ones. As I said above, such a small price makes Zilliqa a good option for long term investment. I started with a small investment, about 15 GBP ($16.73), and bough 1000 Zilliqa. The amount will rise monthly, considering adding 1000 more units every payday. The project is solid, and the growing market needs Zilliqa more than Zilliqa needs the market.