ZIlliqa (ZIL) is a next generation, high speed blockchain platform based on the technology of sharding – which allows for linear scaling as a blockchain grows in size. It is the first high-throughput public blockchain platform. This project was founded by researchers and developers at the National University of Singapore and addresses the transactional problems we see in the cryptocurrency community today. The team sees security and scalability as a strong suit while most other cryptos struggle with scalability. Zilliqa is building up hype as their development and marketing team has recently launched test net on their platform. CEO of Zilliq Xinshu Dong says there will eventually be a mainnet launch. Zilliqa even has their own smart contract programming language, Scilla, that helps ensure the security of systems running on the blockchain. Developers will be able to test applications on the network this month when the test net is released.
This is a very exciting time for Zilliqa (ZIL) as it is one of the newer coins in the crypto market and has been still managed to be the best performing. When asked what coins he would “HODL or FODL” on CNN’s Fast Money news special, ONchain Capital Founder, Ran Neu Ner, mentioned Zilliqa as a HODL referring to its strength in scalability. Ron Neu Ner is a renowned crypto investor with his own CNBC talk show on cryptocurrencies.
— Zilliqa (No, not giving away ETH) (@zilliqa) May 18, 2018
Zilliqa plans to be a big player in the market and has already proven to be a threat to established coins like Ethereum, offering to do more transactions per second. Zilliqa’s underlying technology puts sharding from theory to practice and has been under development for two to three years and is now finally showing its use case. With new concepts in place, there is a potentially huge opputurnity for crypto miners on their platform as Zilliqa has been encouraging mining since its start in 2017. Ranked 7th on Invest in Blockchain’s list of most influential ERC-20 tokens, ZIL’s new method of sharding has allowed for them to become top contenders in the market. ZIL could very likely earn the spot of #1 in the future if it keeps trekking along as it is currently.
ZIL has rapidly climbed in growth since being listed on Binance only a couple of months ago. When first listed on Binance, ZIL was stagnant, trading at $0.03 – $0.04. After a couple of weeks, volume increased, the sharding strategy paid off, and the price was exponentially rising, ultimately hitting a new all time high of $.22. Experts have said that we will not ever see Zilliqa (ZIL) under the $.10 cent mark again and while nothing is set in stone, this is very plausible as Zilliqa has proven to perform better than most coins.
Zilliqa has now passed a market cap of $1 billion, ranking it #25 on CoinMarketCap, the third cheapest coin in the top 25 after TRON (TRX) and Bytecoin (BCN). With daily trading volumes of over $100 million, ZIlliqa (ZIL) is one of the only coins to go up over 100% in the past month, specifically climbing up by 120% against the US dollar in the last 30 days (collecting 210% of gains during the period of 60 days).
— CoinDesk (@coindesk) May 9, 2018
What is truly remarkable is that Zilliqa’s platform and performance has attracted this many investors without any intense marketing schemes like that of Tron (TRX) or Ripple (XRP). While investors in the crypto community continue to see advertisements for digital currencies left and right day after day, ZIlliqa has remained humble letting their technology speak for itself. This is rare nowadays: a good product showing great results without any in-your-face promotion.
ZIlliqa has the potential to match benchmarks set by traditional payment methods like VISA and MasterCard. As network fees for bitcoin rise and transaction time delays, quicker technology ends up coming up with solutions. By fundamentally changing how the blockchain reaches a consesus with the sharding algorithm, there is theoretically no limit the number of transactions ZIL could complete in one second. Sharding divides the network into several component networks called shards. Ziliqa is creating a whole platform of its own that can become a dominant force in the market.
Launched back in February, ZIL was presented as a blockcahin-based solution for scalability, offering a simple and easy solution for transaction issues. Making a decentralized platform scalable poses as a great threat for the majority of platforms, promising to execute transaction processing quicker than their competitors. By dividing the nodes of the ZIL network, this currency creates consensus groups. These consensus groups are the one thing in particular that make a high level of scalability possible with Zilliqa.
The team at Zilliqa is actively hiring new developers and marketing people – experts in cybersecurity and blockchain technology.
— Xinshu Dong (@xinshudong) March 6, 2018
Xinshu Dong, ZIlliqa’s CEO, posted a picture of him and Vitalik Buterin, along with some other programmers and developers of the ZIL team, to Twitter, mentioning how Buterin, Ethereum’s creator, helped them solve challenges and solutions around sharding friendly smart contracts and storage. Teaming with Buterin is a step in the right direction as he has a big role to play in this blockchain revolution.