Zilliqa is the initial public blockchain created to implement sharding, allowing for linear scaling as the blockchain grows in size. Zilliqa radically changes how a blockchain reaches an agreement. Their sharding solution scales with the capacity of the system.
What is Zilliqa (ZIL)?
Zilliqa is a unique and innovative blockchain startup from Singapore that intends to explain the single most significant obstacle of existing blockchains, throughput. It is a public and amazingly scalable blockchain platform that can quickly scale up to thousands of events per second. It makes use of some advanced technologies to deliver this kind of scalability and throughput.
Zilliqa (ZIL): History
The Zilliqa team introduced the theory of sharding in a paper in 2015, and since then this protocol has been under investigation, refinement and active development.The Project Zilliqa started on Aug 10, 2017. The public testnet and source code of Zilliqa were issued in December 2017. Their internal testnet of 2,400 nodes can process 1,389 transactions per second. The team behind Zilliqa are, led by our CEO, Xinshu Dong, is a different mix of deep tech practitioners, venture creators, and financial experts.
How Does Zilliqa (ZIL) Work?
Zilliqa makes use of some advanced technologies to deliver the targeted throughput of 4000 tx/s comparable to what Visa and Mastercard own now. It is linearly scalable and performs a method known as sharding that shares each node into same chains and then conducting the transaction along with other similar shards to build a microblock. These are then blended and joined to the central blockchain. In an internal test, it produced a record 2488 tx/s of throughput. Other technologies in use are a Proof-of-Work consensus system and practical Byzantine Fault Tolerant protocol to give the chain a perfection.
How To Buy Zilliqa (ZIL)?
Buying Zilliqa is a two-step process. First, head over to Coinbase and purchase Bitcoin or Etherium which accepts debit or credit card. If Coinbase is not accessible in your jurisdiction, view our list of markets that sell BTC or ETH for Government issued money. Next, transfer your newly purchased BTC or ETH from your Coinbase wallet to one of the exchanges like Gate.io/ KuCoin/ CoinSwitch. The best place to save your coins is My EtherWaller/ Ledger Wallet.
Zilliqa (ZIL) Price Prediction 2018
Zilliqa is not that much promoted yet. But as the popularity of cryptocurrencies is increasing day by day, we can expect a great variation in the price of ZIL. At present, ZIL is a lousy long-term investment option. If the user is looking for virtual currencies with a good return, ZIL is a bad option. The Zilliqa price today is $0.496 and the market cap value is $327,827,001. The volume is marked as $15,620,800, and the current supply is 6,605,326,966 ZIL.