Zilliqa (ZIL) – The cryptocurrency market seems to finally be back on track with some upward momentum. The month of May saw a massive downtrend with the market starting at $417 billion and ending at $334 billion however now, most digital assets, top coins included, traded in a green zone over the weekend and are now consolidating.
The Singapore based project present Zilliqa is solving the scalability problems endemic to blockchain technology through sharding, an efficiency-boosting technique that predates bitcoin. By the end of Sunday’s trading day, Zilliqa climbed nearly 9% and has been performing relatively upwards for a solid part of 2018, securing its #25 rank in the market with a market cap of $1 billion. Zilliqa has been increasing a following since there start and has been adopted by key players in the industry. ZIL is now available for trading on a number of cryptocurrency exchanges and is only going to be added on more after its successful action. Zilliqa is currently listed on Binance, OKEx, IDEX, KuCoin, Bithumb, Upbit and Houbi and EtherDelta.
Blockchain start-up #Zilliqa, founded by former and current @NUSComputing researchers, is transforming the world of #blockchain thanks to the process of sharding which improves the energy efficiency of #cryptocurrency mining. #NUSResearch https://t.co/V2udIsMpFk
— NUS (@NUSingapore) May 28, 2018
Zilliqa sets out to become the fastest decentralized platform for blockchain in the industry of its technology. This is the first blockchain technology that allows linear scaling with the growth of the blockchain. Zilliqa’s cutting edge technology makes it better than most alt coins out there in the crypto space and challenges Ethereum and Bitcoin. Zilliqa was carefully created to be better than the other crypto giants in the market by working on the flaws that they had and working to make them better. Investors all over the world are joining Zilliqa in its Journey of becoming the Gem of the market by holding onto it and using.
Zilliqa is set to revolutionize the smart contract aspect of blockchain technology through its sharding technology which is designed in such a way to scale a transaction as the number of shards rises. Sharding creates smaller mining units that process the transaction by themselves and solve the problem of network congestion which is frequently experienced by developers in case of Ethereum platform. However, Zilliqa’s sharding technology also gives rise to some shortcomings, for example, it requires a lot of disk space . Zilliqa’s programming language called Scilla has created much hype within the community and is said to be extremely developer friendly and allows the testing of smart contract before its launch.
Partnership with Mindshare:
Zilliqa’s partnership with Mindshare allows both entities to run an application pilot for advertising with a universal ledger, throughput verification, and a native alliance token. Mindshare is a global media marketing service company that was created in 1997 and is one of the world’s largest media agencies. “The exclusive partnership will involve testing whether Zilliqa’s blockchain protocol can be used to address pervasive industry challenges including contextual advertising in relation to fake news; develop strategic initiatives around data privacy and develop an industry-wide tokenisation program which can be used for publisher and content scoring.”
Zilliqa is a blockchain 3.0 platform that has the potential to compete with EOS and NEO; however, Scilla is likely to make it the preferred dApps platform. Zilliqa is making progress by getting into partnerships and working on pilot projects with major companies and investors but nevertheless has fierce competition. ZIL’s infinite scalability and ultra fast transactions will lead it to its true potential in no time and it is likely that after the main net launch there will be an influx of dApps on the network.
— Zilliqa (No, not giving away ETH) (@zilliqa) May 24, 2018
Zilliqa also helps mining protocols:
Robert Morris, Vice President of Global Labs, IBM Research said:
“Blockchain is one of the most disruptive technologies in computing today, and it is impacting many industries including financial services, trade, healthcare and supply chain. This collaboration with the National University of Singapore School of Computing will help prepare a future workforce that is born on the blockchain, ready to implement, improve and innovate: core skills required for Singapore to achieve its vision as a Smart Financial Centre and Smart Nation,”
The community of Zilliqa stays active and attends events worldwide spreading their major updates. On May 23rd, 2018, there was a presentation event called the Sharding in Action & Security by Design and it was an exciting time for the whole crypto community but specifically for Zilliqa. In New York, they attended the Blockchain Week NYC and were given the Honor to be featured on CryptoTraders – CNBC. Also, in Asia, the TechInAsia festival had incorporated a ‘Blockchain Stage’ and invited a member of the Zilliqa team to present their keynote on the stability of blockchain technology and security in smart contract and sharding.
Zilliqa processes thousands of transactions per second as opposed to Bitcoin or Atheneum’s slower scalability. Both Bitcoin and Ethereum have proven to work, but as the “age of the alt coin” approaches it is possible that we see coins like Zilliqa (ZIL) find a place in the market.