Zilliqa (ZIL) is an up and rising cryptocurrency that is taking the crypto-world by storm. It is the world’s first high-throughput public blockchain. One of their primary selling points is that it can allow thousands of transactions at a snap of a finger. Ziqilla entered the market at the 26th of January 2018; it is competing intensely with other competitors.
Currently, ZIL is at $0.146 with a 4.96% increase. Less than a month ago, Zilliqa was valued at $0.037, which is more than 350% increase in the increment of the prior value. Not only that but only a few days ago, ZIL managed to peak at $0.231, the highest it has ever been in a period of a month, doing the math that is almost at least 530% increase in the value of the coin. Analysts are already speculating that by the end of 2018, Zilliqa might even go to a $1 a pop. This is causing quite a ruckus in the world of cryptocurrency, the numbers provided are not lying as they the increase of the value of Zilliqa coins are going only higher and higher. Soon enough, they will be challenging Ethereum head on.
On late May 9, 2018, they have broken through the $1 billion market cap threshold; cementing their place as the 23rd most valuable cryptocurrency in the whole world. This is no easy feat to achieve in the world of coins, what made Zilliqa quite a formidable force? How are they able to almost compete with the top tier cryptocurrencies?
Sharding is a unique process from Zilliqa, it allows mining to be divided into much more smaller processes or rather shards. The transactions are now run by multiple shards working simultaneously, rather than the traditional method wherein the entire blockchain is updated. Think of it this way, pretend that you have currently 6000 nodes, all the nodes will be divided equally into shards. If the nodes further increase, the shard count will also increase to accommodate the other shards. Thus allowing the network to be uncongested and avoiding issues in traffic in general. With the number of nodes divided into shards, this ensures the consumers to faster transactions. This process is quite unique to Zilliqa.
Sharding has been and will continue to be @zilliqa’s approach towards scalability with decentralization and security. We not only achieved high tps, we also develop Scilla so as to best benefit from sharding to run contracts fast and securely. Never had a second thought on it.
— Xinshu Dong (@xinshudong) May 18, 2018
Not only that, Zilliqa also catered to the best interest of their market. They have introduced a new programming language called Scilla, which is highly developer friendly. One of the strengths of Zilliqa is that it allows developers to build your own blockchains to Ripple blockchains or Ethereum.
Zilliqa went the extra mile to hire a team of great developers from Singapore and United Kingdom. The team behind Ziqilla is quite fearsome, academic professionals in their respective fields; it is no wonder that Ziqilla is quite a top-notch player in the cryptocurrency field. There are also rumors wherein some Ethereum dApps will switch to Zilliqa. Not only that, there are talks wherein a cross-chain functionality will be added in the near future, there is no specific date yet for the release of this feature, but this is certainly one to look out for.
Currently, Zilliqa has opened a testnet that allows them to perform arduous and strenuous tests to their system, this is to ensure that Zilliqa still follows their project roadmap and avoid getting derailed. Soon enough, when the testing is over and MainNet is the primary platform; it is expected that Zilliqa will be competing with the coin giants such as EOS, Tron, and Ethereum.
Soon enough, Ziqilla will be introducing their MainNet. Which is their primary platform, currently they are utilizing a testnet for them to mess around with and develop their processes? The majority of the consumers are waiting for the full release of MainNet, which is set to be released by later this year.
Commitment to their Fans
As you are probably starting to notice, Zilliqa almost caters to its market. You’re right on that note; they do listen to their market on areas they can further improve on. They are highly committed to listening to their subscribers. Going the extra mile to even create a Telegram account, almost accumulating 30,000 subscribers joined in the group to push out ideas. It is quite refreshing to see developers in constant communication with their audience.
It is no secret that Bluzelle and Ziqilla are partners, which both aim to be the de facto database for everyone. Bluezelle strategically became partners with Ziqilla in which both aim to further improve their respective products.
Last April 16, 2018, the CEO of Bluzelle, Pavel Bains, conducted an AMA (Ask Me Anything), within the Ziqilla Telegram community. One of the attendees of the AMA asked Pavel regarding a collaborative project between Bluzelle and Ziqilla. Pavel answered that they will give more details around July or August of 2018.
Apart from Bluzelle, Ziqilla also partnered recently with Noorcoin last April, Noorcoin is the first shariah token to enter the market. Sofia Koswara, CEO of Noorcoin, stated “We’ve decided to build on Ziqilla’s platform since it opens up new options that weren’t possible earlier. We aspire to achieve outstanding quality and to be a pioneer in setting the best practices in the world for the growing blockchain industry. With Zilliqa we believe that we can achieve that goal.”