Ever since the popularity of cryptocurrencies has been on the rise, numerous cryptos have invaded the crypto market. One such crypto which is the talk of the town is Zilliqa crypto.
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What is Zilliqa crypto?
Founded by Prateek Saxena, the Zilliqa network is a blockchain network designed to offer high throughput and boasts completing thousands of transactions per second. Its utility token is known as ZIL.
The crypto is currently trading at US$0.1019 and has a circulating supply of over 12.58 billion ZIL coins, while its maximum supply is capped at 21 billion coins.
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What are the distinctive characteristics of Zilliqa?
Zilliqa is the first of its kind of public blockchain built, which relies entirely on a sharded network. In other words, here, every shard processes transactions individually, and with the growth of the network, the number of shards also rise; hence, the number of transactions that can be processed per second also rises, which are instantly added to ZIL’s blockchain upon processing.
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As a result, this blockchain is increasingly being adopted by large-scale enterprises for their use. Some such businesses include gaming, financial services, entertainment, advertising, etc.
Moreover, Zalliqa’s team has stated that its platform aimed to compete with the conventional centralised payment methods like MasterCard and Visa.
Also, Zilliqa’s network is highly scalable and environmentally sustainable, cites the website, thus enabling the creation of user-friendly dApps more easily.
It is noted that Scilla is Zilliqa’s programming language, which renders security, scalability and smart contract functionality to the network.
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Bottom Line
The crypto space is bustling with buzzwords like Metaverse, DeFi, NFTs, scaling solutions, and much more. These, however tempting, must be explored with due diligence and caution as the cryptocurrency market is extremely risky and speculative.
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