What is Zilliqa?

Zilliqa (ZIL) is a high-performance blockchain platform designed for scalability, security, and decentralized application (DApp) development. Launched in 2017, Zilliqa was the first blockchain to implement sharding, allowing for high-speed transactions and enhanced network efficiency. The ZIL token is used for transaction fees, staking, and smart contract execution.

How is Zilliqa useful?

Zilliqa provides fast, low-cost transactions, making it ideal for DeFi applications, gaming, NFTs, and enterprise blockchain solutions. Its sharding mechanism enables higher throughput, ensuring that the network remains efficient even with increased usage. Zilliqa also supports smart contracts and staking, allowing users to participate in governance and earn passive income. The ZIL token is central to the network’s operations, being used for fees, staking rewards, and cross-chain interactions.

How does Zilliqa work?

Zilliqa operates on a sharded blockchain architecture, where transactions are processed in parallel across multiple shards, significantly increasing network scalability. It uses a practical Byzantine fault tolerance (pBFT) consensus mechanism, ensuring fast finality and security. Zilliqa’s smart contracts are written in Scilla, a security-focused programming language designed to prevent vulnerabilities. The ZIL token is staked by validators, securing the network while enabling participation in governance and earning rewards.

Zilliqa milestones

• Pioneered Sharding in Blockchain: First to implement sharding for scalable transactions.

• Integration with DeFi and NFTs: Enabled fast and low-cost transactions for decentralized applications.

• Staking and Governance Expansion: Allowed users to stake ZIL and vote on protocol changes.

• Partnerships and Institutional Adoption: Collaborated with enterprises to explore real-world blockchain use cases.

• Ecosystem Growth and Smart Contract Enhancements: Improved security and scalability for DApps and developers.

Zilliqa continues to push the boundaries of blockchain scalability, offering efficient, secure, and high-speed solutions for decentralized applications and enterprise use cases.

Buy Zilliqa (ZIL) on BITmarkets.