What is Zilliqa ?
Zilliqa (zil) is a permissionless cryptocurrency developed to allow all its users to deploy transactions faster and quickly. It aims to reduce the extensibility of the blockchain and also increase its speed. This is done by employing sharding, which works as a second layer of solution effective in scaling.
The platform has many decentralized applications that run on its blockchain. The utility token provided by Zilliqa is known as ZIL, which can be used for staking and faster transactions and executing all smart contracts.
Primary features of Zilliqa
- It entirely depends on the shared blockchain of a network.
- Provides a faster rate of transaction and high throughput, which improves the issue of scalability.
- Byzantine Fault Tolerance highly secures Zilliqa.
- Provides better control for the creation of new nodes in the blockchain.
- It uses the algorithm of Proof-of-work to develop shards and provide identities to networks.
- Its consensus protocol is protected by elliptic-curve cryptography.
Is Zilliqa a promising cryptocurrency?
Zilliqa (zil) is being considered a good investment in the year 2021. It is currently supplying a total of 12 billion, which is 55% of its total capacity. It will move higher as the year progresses because of its higher transaction rate and scalability factor.
How to use Zilliqa coins?
The Zilliqa coin future is bright as it is moving ahead with positive intent. You can use them in the following ways:
- Exchange & Trading: The Zilliqa cryptocurrency can be used to trade crypto and exchange with another crypto.
- Investment: Digital currency prices are subject to increase in the coming years, so investing in them can be highly profitable.
- International Transfer: You can quickly transfer funds all across the globe without worrying about any levy charges.
- Online payment: The Zilliqa crypto can easily be used for online payments. As many e-commerce websites use them as payment methods.
Pros & Cons of Zilliqa coin
It has better followers in the community.
It is the first blockchain network platform that provides sharding technology.
No Permission Required:
It does not require any permission and works publicly with sharding.
Efficiently collaborates with the technology of the real world.
Resolves scalability issues faster.
Needs Turing Permits:
It has Turing permits for language procession, which is highly complex.
More transactions per second mean an increased level of centralization.
Trade Zilliqa coin on CoinSwitch kuber
- It only requires a small amount of Rs.100 to start investing in the Zilliqa (zil).
- You can easily exchange digital currencies.
- It does not have any hidden processing fees involved in the currency exchange.
- You can easily withdraw the amount anytime as there is no maturity period.
- You get the best price for exchange available in the international trading market.
Zilliqa ICO summary
The ICO for Zilliqa (zil) ended on 4th January 2018. The initial price on the Zilliqa coin launch date was $0.0038. The Zilliqa coin raised $22 million in the initial offering while offering 6.30 billion shares. The investors were offered 30% of the stock, of which 70% of the stock went to an unknown commodity that was not reported.
FAQ's on Zilliqa
- Who is the founder of Zilliqa (zil)?
Prateek Saxena is the founder of the Zilliqa (zil) cryptocurrency.
- What is the market cap of Zilliqa (zil)?
The market cap of the Zilliqa coin is $1,327,532,314.34
- What is the fully diluted market cap of Zilliqa (zil)?
The fully diluted market cap Zilliqa coin in the current market is $2,400,548,032.59.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.