ZIL
Zilliqa
$0.003123
1.68%
Zilliqa
ZIL
$0.003123
1.68%
Zilliqa Price Converter
Zilliqa Information
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About Zilliqa
Zilliqa is a high-throughput blockchain platform that uses sharding and pBFT consensus to ensure security. It has Scilla, a safety-focused language for its smart contracts that can identify and eliminate security vulnerabilities. The platform was created by a team from the National University of Singapore. It aims to transform digital infrastructure across industries and communities by providing a fast, secure and cost-effective blockchain platform, suitable for developing decentralized applications in finance, gaming, and digital advertising.
Zilliqa is a blockchain platform that introduced sharding to enhance scalability, allowing it to process thousands of transactions per second. This innovation addresses a critical bottleneck in blockchain technology, enabling greater throughput as more nodes join the network. Launched in 2017, Zilliqa's development focused on creating a scalable and secure blockchain solution. Its mainnet went live at the end of January 2019, marking a significant milestone in its journey towards addressing blockchain scalability issues.
Zilliqa's blockchain is designed to support high-throughput applications, making it an ideal platform for decentralized applications (dApps) that require rapid transaction processing. It uses sharding to divide the mining network into smaller groups, or shards, each capable of processing transactions in parallel. This mechanism enables Zilliqa to scale efficiently as the network grows. The platform also introduces Scilla, a new programming language aimed at enhancing security and facilitating formal verification of smart contracts. This focus on security and scalability makes Zilliqa a suitable choice for developers looking to build dApps in sectors such as finance, digital advertising, and gaming.
Zilliqa was developed by a team of academics and engineers, including Xinshu Dong as the CEO. The project was born out of research conducted at the National University of Singapore, aiming to tackle the scalability limitations of existing blockchain technologies. Max Kantelia and Juzar Motiwalla are also recognized as co-founders, contributing to the platform's foundational development. The team's combined expertise in computing, cybersecurity, and blockchain technology has been instrumental in Zilliqa's design and its focus on scalability and security.
The discrepancy in the start dates: 2017 for its conceptual launch and 2019 for its mainnet launch—relates to the project's developmental milestones. Zilliqa's mainnet launch in January 2019 was a significant event, transitioning from the ERC-20 ZIL tokens on the Ethereum blockchain to native ZIL tokens on its own blockchain. This move was a critical step in Zilliqa's evolution, marking the beginning of its operational phase and the ability to support dApps and smart contracts on its platform.
