Zilliqa (ZIL) current price is $0.0336 with a marketcap of $265.81 M. Its price is -1.04% down in last 24 hours.
- Zilliqa (ZIL)
- Live Price $0.0336
24h % -1.04%
- Market Cap$265.81 M
- Volume$8.65 M
- Available Supply7.90 B ZIL
More Info About Coin
Today, there are more than 1500 altcoins in the market. With many digital currencies, it is a daunting task for new crypto investors to determine whether a coin is worth investing. To find the best coin consider the following factors, the team, community, technology, and the real world value. If the altcoin you considering to invest in answers the above factors, then it is worth investing in. Today, we take a close look at the promising altcoin-the Zilliqa.
So, what is a Zilliqa?
Launched in August 2017, Zilliqa is one of the first high-performance throughput open source block-chain platforms. It is designed with the latest technology to scale up thousands of transactions every second. The technology was introduced to help address the problem of scalability. Notably, scalability has been a stabling block in the adoption of crypto currencies in the society today.
Zilliqa design has earned the tag of the most scalable project in the market today since it employs the revolutionary concept known as Sharding. Sharding technology splits nodes into the small transaction that can be relayed out through parallel network.
The Bespoke Language -Scilla
The team behind Zilliqa created a bespoke language known as Scilla. The Scilla language is geared towards separating function and state by drawing a clear peculiarity the state independent contracts, which are not supported by Zilliqa and between functional contracts.
Unfortunately, the new language does not support apps that require special additional loops or statements. The main objective of the language is to ensure programming become secure.
The Zilliqa team is comprised of computer scientists and academicians. The idea was born from an R^D project from the National University of Singapore. Some of the notable engineers who worked on the project include:
1. Xinshu Dong: The CEO of the project. He has a Ph.D. in from the National University of Singapore. Besides, he has been leading cyber security expert in Singaporean government.
2. Prateek Saxena: The Chief Scientific Advisor. Currently, he is a professor at the National University of Singapore. In Addition, he was the founder and CEO of the Keyber Network.
3. Amrit Kumar: He is the Crypto project lead in Zilliqa. He has a Ph.D. holder from the University of Grenoble-Alpes.
The Zilliqa advisory board include the following blockchain notables: Vincent, Nicolai Oster, Loi Luu, and Alexander Lipton.
Benefits of Zilliqa
1. The company provides users with exceptional high speeds courtesy of the platforms capability to host many transactions at the same time.
2. The platform is secure. It assures the blockchain users that their identities will remain anonymous and that their crypto currency is safe.
3. The platform is designed to scale, thus making it more adaptable.
4. The smart contracts are designed with the highest level of parallelism. Hence, consumers will enjoy the full benefits of the future.
The ZIL Token
Just like other platforms, Zilliqa has its own unique token known as ZIL. Notably, Zilliqa has not launched its mainnet and the ERC-20 token is based on the Ethereum blockchain. It is expected once the mainnet is launched, users will be able to exchange the tokens with other native ones.
Up to date, the project has managed to raise an equivalent of $12 million in ETH, which is valued at the hard cap of $20 million. Notably, ZIL tokens can be exchanged using other services like Upbit, Huobi, Bithumb, and Binance.
How to Store ZIL
Since the coin is an ERC20 token, it requires and Ethereum wallet to store. Nonetheless, in the near future, it will see the development of mainnet that will have tokens exchanged with ones on its own blockchain. Before hand, you will still have to use a hardware ledger wallet or the famous MyEtherWallet to store your ZIL.
Prospects of Zilliqa
In the crypto industry, it is always difficult to say with certainty about the future. However, Zilliqa has a great chance to take up its place in the market, although this will need time. When investing in this coin, you must be set up for a long-term investment. Nonetheless, it is expected that during the full launch of the network, it will favorably affect the course of ZIL tokens.
Zilliqa technology has a promising start and it is a platform worth keeping an eye on moving into the future. By tackling the blockchain scalability problem using a direct approach, Zilliqa has the potential and ability to revolutionize the blockchain concept. Even more, we might see more breakthroughs in sharding technology trickle down to other future projects.
Pros & Cons
|Zilliqa is the first platform to use sharding technology.||The creators of Zilliqa are academics not businessmen, Zilliqa’s tech is ahead of the rest of the market but its business isn’t|
|It has a strong community|
|High probability it will overtake most blockchain projects|
BCrypto Investment Tip
Zilliqa is the first blockchain that has implemented a working shard solution. While the sharding is not a full state sharding solution, it’s still a version of sharding that works here and now. The fact that there will actually be as scalable blockchain live by Q3 is a big milestone for blockchain technology and crypto as a whole. I believe given Zilliqa’s strong team and a working sharding solution makes Zilliqa a very compelling investment.