Zilliqa is a permissionless and public blockchain that offers high productivity with the capacity to execute thousands of transactions per second through sharding.
Sharding enables the platform to achieve faster rates of transactions per second while maintaining a high throughput.
Sharding is a method that divides the network into many pieces/shards enabling each node to process a part of the network’s transactions at the same time.
Zilliqa intends to make blockchains faster and more accessiblle by applying sharding as a second-layer scaling solution to blockchain’s slow transaction issue.
The number of transactions processed per second augments as each network grows and the shards augments because each shard processes transactions separately. Transactions are instantly recorded on Zilliqa’s blockchain after processing, lessening confirmation time.
Zilliqa asserts to be the first public blockchain to depend wholly on a sharded network.
Zilliqa’s development started in June 2017, and the platform launched its mainnet on June 2019.
Launched in June 2017, ZIL is the native utility token of Zilliqa.
ZIL processes transactions and deploys smart contracts.
ZIL is utilised to process transactions on the network.
Zilliqa enables users to build decentralised applications and send secure and fast payments.
Users can stake and yield farm ZIL coin and earn rewards. But they need to purchase and hold ZIL tokens to be able to stake and yield farm it. The staking rewards on Zilliqa is not fixed.
ZIL holders can vote on preferred changes and submitted proposals in Zilliqa’s network by holding some Governance ZIL (gZIL) tokens, Zilliqa’s network governance token. Lanched on October 14, 2020, gZIL is a token created absolutely for Zilliqa governance. Some of the ideas voters can decide incorporate: staking system, new protocol features, updating rewards and fees structures etc.
Users can use ZIL to interact with Zilliqa’s broad ecosystem. ZIL holders can buy and sell NFTs, own NFT assets on Zilliqa’s marketplaces just by holding ZIL.
By holding ZIL, users can create their token on Savant IDE, Zilliqa’s web-based development environment.
ZIL was lauched with a max supply of 21 billion tokens, and a total supply of over 14.7 billion ZIL as of June 2021.
At the time of writing, ZIL is trading at around $0.12 with a market cap of over $1.5 billion.
You can buy, sell, and trade ZIL on Binance, Crypto.com Exchange, KuCoin, and more.