The Zilliqa token has gathered traction lately, which could be due to a series of developments. Recently, it started hiring for various roles and today the company announced the appointment of Bradley Laws as Head of Investor Relations.
Bradley will look after investment relations and investment activities under ZILHive and lead the efforts for making ZIL-related assets and dApps usable, visible, and accessible for users through partnerships, expanding to new geographies, and launching new funding initiatives for Zilliqa’s ecosystem growth.
On Monday, March 28, the Zilliqa (ZIL) crypto jumped 19.72% to US$0.1064 per token at 5:18 am ET. Zilliqa is focused on offering utility-based commercial applications of blockchain.
What Is Zilliqa (ZIL)?
Zilliqa (ZIL) is a high-performance, public and secure blockchain platform for next-generation enterprises and applications. The blockchain offers high throughput with completing thousands of transactions per second (TPS).
The blockchain has made significant progress from an average of 900 blocks produced in a day in 2019 to more than 2500 blocks a day.
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Zilliqa’s development work started in June 2017, and the platform launched its mainnet in June 2019. In April 2020, the platform started staking and yield farming.
The blockchain is focused on solving scalability and speed challenges through using sharding, a practice of partitioning more extensive databases into smaller, faster, more easily managed parts, as a second layer scaling solution.
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Zilliqa aims to become a blockchain of choice for large-scale enterprise use, including gaming, entertainment, advertising, financial services, and payment industries that need faster and scalable transaction processing.
As per the website, it had 192 projects in its ecosystem as of January 18, 2022. Currently, it has 58,079 active users and 5,584,290 addresses on its platform.
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Anquan Capital and Zilliqa Research are the two companies behind developing Zilliqa and hold significant reserves of ZILs.
As per its tokenomics, 10% and 12% of all tokens are reserved for Anquan Capital and Zilliqa Research, respectively. 5% of the tokens are reserved for the contemporary and future team members to be distributed quarterly over three years.
According to its whitepaper, all tokens will be mined within ten years, and around 80% of them in the first four years.
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Data Source: coinmarketcap.com
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ZIL token price and performance:
ZIL is its native utility token used to process and execute smart contracts.
With a circulating supply of 12.58 billion ZIL, its current market capitalization is US$1.34 billion. The token has a maximum supply of 21 billion, and the total supply is 15.87 billion.
Its 24 hours volume rose nearly 12% to US$2.89 billion on Monday morning. Binance, Bybit, BingX, and OKX are a few of the crypto exchanges to buy, sell and trade ZIL.
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Bottom line:
The cryptocurrency market is volatile and prone to scams without adequate regulations. Hence, the investors must be cautious and apply due diligence before entering the crypto market.
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