Zilliqa is a permissionless public blockchain with high throughput and the potential to process a vast number of transactions per second. It aims to address the problem of blockchain scalability and speed via the use of sharding as a secondary scaling mechanism.

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The platform supports a variety of decentralized apps (DApps). As of October 2020, staking and yield farming was added to its wide range of functions. Zilliqa is a blockchain platform that intends to boost user scalability via sharding by incentivizing a worldwide, distributed network of computers to execute it.

To separate itself from competitors, Zilliqa employs a technology known as sharding, which divides its infrastructure into many linked blockchains to facilitate more transactions.

Additionally, Zilliqa developed Scilla, a native programming language that places a premium on security and allows developers to create and deploy customizable decentralized applications (DApps) that mirror real-world services.

To accomplish these goals, the network's native token, ZIL, is utilized to run programs, transmit transactions, and encourage network-supporting actors.

Evolution and Development of Zilliqa

Prateek Saxena, an assistant professor at the National University of Singapore's School of Computing, conceptualized Zilliqa originally. Saxena and other students from the School of Computing released a paper in 2016 describing how a blockchain with a sharding emphasis may increase network efficiency and performance.

Zilliqa was founded in 2017 by a group of researchers from the National University of Singapore. Xinshu Dong, Yaoqi Jia, Amrit Kumar, and Prateek Saxen joined the team as original members in June of that year. Their first big achievement was the establishment of their own testnet.

The project officially began on January 31, 2019. It was a watershed moment because, during the first bootstrapping phase, mined rewards were distributed, and transactions could not yet be processed to fight against early assaults.

What makes Zilliqa unique?

Zilliqa, like Ethereum, uses smart contracts. Smart contracts on Zilliqa are written in Scilla, a custom programming language. Scilla has a unique architecture that allows developers to write secure smart contracts.

Because blockchain programming is still relatively new, developers often make errors while building smart contracts. Hackers have discovered vulnerabilities and drained apps of millions of dollars. Zilliqa expects Scilla will let programmers construct non-exploitable smart contracts.

The scalability of Zilliqa is its main selling feature. The approach used by Zilliqa to scale a blockchain is sharding. Instead of a single blockchain (main chain or base chain), there are many blockchains.

Because smart contracts are constructed on shards, consumption needs are distributed. Zilliqa can handle thousands of transactions per second and reduce congestion. Conveniently, Zilliqa can continue to add new shards as the network expands.

Because both are on the Ethereum 2.0 roadmap, many people believe Proof of Stake consensus is linked to sharding. However, Zilliqa's blockchain employs Proof of Work (PoW) consensus.

More specifically, Zilliqa employs PoW and BFT (Byzantine Fault Tolerance) in tandem. Bitcoin uses PoW, whereas BFT reaches consensus even when there is some node failure.

The pBFT governance mechanism maintains the dispersed network of computers in sync.

To run the network and vote on modifications, nodes must first stake ZIL coins, which means anybody owning ZIL may assist run the network. Before a microblock can be concatenated into a transaction block, all nodes allocated to that shard must agree.

After that, each node gets a share of the block reward for verifying transactions.

What are the main uses for Zilliqa?

On the Zilliqa blockchain, the utility token ZIL can be used to pay for smart contract execution and transaction fees.

ZIL completed the move of its token from the Ethereum blockchain platform to a native chain in 2020, at which point it ceased to be an ERC-20 token. ZIL is now accessible on BSC as a BEP-20 token.

ZIL serves as both a governing token and a coin for supporting the project on its native chain. As with Bitcoin and BTC, Zilliqa's Proof of Work consensus results in ZIL currency block rewards.

Unlike some other blockchains, however, mining incentives degrade over ten years to maintain Zilliqa's hash rate. Additionally, Zilliqa miners may mine using commercial-grade GPUs rather than specialized ASIC rigs.

Given its very low transaction cost of $0.000023, ZIL is well-suited for microtransactions in a variety of decentralized applications (DApps).

What is the future potential for Zilliqa?

When it comes to sharding as a solution for blockchain scalability, Zilliqa is unquestionably the early adopter. Adopting this form of scalability is immensely simpler if a blockchain such as Zilliqa is based entirely on this protocol.

Ethereum, the largest platform on which hundreds of decentralized apps (DApps) are now running, has been utilizing the old blockchain concept and so cannot easily transition to sharding solutions.

Zilliqa's foresight in this area demonstrates a great deal about what the creators of Ethereum 2.0 might anticipate from this scaling solution.

Price analysis on Zilliqa

Zilliqa was initially launched in 2017, and its price analysis over the past four years from 2018 to date is as follows:

Price prediction on Zilliqa

According to crypto analysts, the price on ZIL could reach the $0.11 mark by the end of the year. According to several price prediction websites, the long-term price of ZIL is positive, and the coin could reach $2.47 by 2030.

Where can you buy Zilliqa?

ZIL tokens can be bought, sold, and traded on these exchanges:

1. Bittrex Global
2. BitFinex
3. Changelly
4. IDEX
5. Bithumb

1. Bittrex Global: Bittrex Global is an international crypto-exchange platform that has been in operation since 2014. It is an online crypto trading platform where traders can buy, sell, and exchange over 250 crypto assets, including ZIL.

2. BitFinex: Established in 2012, BitFinex is a Hong Kong-based crypto exchange platform that features more than 300 digital trading pairs and several fiat currencies.

BitFinex is available to users from around the world and features competitive and dynamic transaction fees.

3. Changelly: Changelly is a non-custodial crypto exchange trading platform that supports around 200 coins. It has a simple-to-use service that is completely safe and allows for low-fee cryptocurrency trading.

4. IDEX: Crypto trading platforms such as IDEX Exchange enable investors to create an exchange profile on a robust security platform and make money via bitcoin financial trading.

With several features such as safe trading, a customized trading engine, a customized custody solution, an open-source smart contract for security, and the opportunity to earn an IDEX stake, IDEX Exchange is an unmatched resource for crypto enthusiasts.

5. Bithumb: Bithumb is a South Korean crypto exchange that has been in operation since 2014. Bithumb is known for its innovative solutions and the fact that the exchange makes crypto trading easy.

Does Zilliqa use coin burns?

Yes, Zilliqa uses coin burns.

In 2020 it was announced that ZIL burning had begun following a Tweet by one of the project's founders. During this event, 35,000 ZIL tokens were removed from circulation every 1.5 hours, which meant that for every transaction, a certain number of tokens were burnt.

Over 3 million Zilliqa coins (ZIL) have been removed from circulation after the Zilliqa network completed its token burning. This is an intentional strategy to increase the coin's scarcity and value.

What is Zilliqa’s largest Competitor?

Ethereum is the largest competitor of Zilliqa.

The Ethereum blockchain technology has a transaction rate of around 10 TPS. Zilliqa is presently 250 times faster at around 2500 transactions per second. Zilliqa scales linearly as the number of nodes increases. The more nodes in the Zilliqa network, the greater the per-second transaction rate.

Consensus: Ethereum utilizes PoW, whereas Zilliqa uses pBFT. In Zilliqa, PoW is used only to construct identities to thwart Sybil assaults. After establishing IDs, the network may obtain agreement on many blocks in a row. This increases the efficiency of PoW by removing the need for a fresh PoW for each block, like in Ethereum.

Zilliqa smart contracts are different from Ethereum’s, with the fundamental distinction being that Zilliqa’s underlying smart contract language will be non-Turing complete.

Zilliqa's consensus process ensures finality, which means that there is no need for confirmation. This contrasts with Ethereum's PoW-based consensus, which allows for temporary forks and hence requires a fixed number of confirmations to provide a buffer against multiple spends.

Scalability: Ethereum is investigating ways to implement PoS safely and effectively in future iterations. Zilliqa offers a new method by using sharding to expedite the scaling process. We will make every effort to be compatible with Ethereum in terms of mining, smart contract language, and so forth.

Zilliqa's unique objective is to facilitate high-throughput decentralized applications (DApps) that need the features of a blockchain, such as openness, accountability, and transparency.

Zilliqa will prioritize supporting decentralized applications (DApps) that need high throughput or volume. While some current DApps on Ethereum may benefit from Zilliqa, this cannot be expected from all DApps.

What is the Staking Process involved with Zilliqa?

Staking is a more environmentally friendly and sustainable method of securing the blockchain. Users can earn incentives for their contributions to Zilliqa's network and ecosystem by using the platform. To start staking, users can choose a wallet, their preferred staking platform, and a staking seed node operator (SNN).

Users can choose any of the following compatible wallet options:

• Moonlet
• ZilPay
• Ledger
• Guarda Wallet
• Zillet
• Atomic Wallet

Users can connect their wallets and start staking using the Zillion portal. Alternatively, users can download the Moonlet or Atomic Wallet app to start staking ZIL tokens directly.

Users can choose their trusted seed node operator from the following list:

• Moonlet
• Atomic Wallet
• Ignite
• Viewblock
• Zillet
• Ezil
• Shardpool
• CEX.IO
• Staked
• Zilliqa
• Valkyrie
• KuCoin
• Everstake

What can Zilliqa smart contracts do?

Zilliqa provides a smart contract layer that enables customers to write smart contracts in the Scilla programming language, the company's native language.

Additionally, the network achieves agreement on contract execution and payments through a hybrid proof of work/BFT method. 

Scilla is an abbreviation for Smart Contract Intermediate-Level Language that was created expressly for use with the Zilliqa blockchain.

Scilla is distinguished by the following characteristics:

• Scilla is a peer-reviewed language for creating smart contracts that support the world's most powerful sharded protocol.
• Scilla's static analysis framework and automated scanner make it easier for developers to uncover common security flaws.
• Scilla is influenced by functional programming languages such as OCaml, which makes it susceptible to formal verification, which is the process of automating mathematical proofs of safety features.

Is Zilliqa a Good Investment?

Yes, Zilliqa is a good investment.

Given the Ethereum network's congestion and high transaction costs, scalable smart contract systems like Zilliqa are becoming increasingly enticing.

Developers want to develop on an infrastructure that is scalable and unaffected by other high-volume DApps. Zilliqa's success will be contingent upon attracting a fresh era of users, developers, and apps.

While this will not be simple, the more crowded networks like Ethereum get, the more developers will hunt for alternate platforms on which to create.

What is the supply and distribution of Zilliqa?

 The total quantity of Zilliqa is 21 billion tokens. ZIL was originally sold as an ERC-20 token in January 2018 as part of a token creation event. The tokens were then swapped to the Zilliqa mainnet in February 2020.

During the token creation event, Zilliqa produced 60% of all tokens (12.6 billion ZIL), while the other 40% (8.4 billion ZIL) is designated to be mined. 10% of all tokens (2.1 billion ZIL) were earmarked for Anquan Capital, 12% (2.52 billion ZIL) for Zilliqa Research, and 5% for current and prospective Zilliqa team members. In 10 years, all tokens will be mined, with the block mining reward gradually decreasing.

Is Zilliqa a viable Alternative Coin?

Yes, Zilliqa is a good alternative coin based on the following:

• Hacking – Zilliqa has unique technologies in place, such as PoW, to prevent cyberattacks.
• Security – The blockchain and network is extremely secure
• Transaction speed – Zilliqa can process thousands of transactions per second.
• Technology – The project uses some of the most innovative blockchain technology that puts it in direct rivalry with the likes of Ethereum, including Scilla, Byzantine Fault Tolerance, PoW, and more.
• Price Stability – Over the past year, Zilliqa's price has shown some stability even if it shows a decrease
• Potential Investment – Zilliqa is a strong contender in the smart contract, DeFi, and DApp scene, making it a good investment.
• Future Uses – As Ethereum lags in its effort to launch Ethereum 2.0, contenders such as Zilliqa have many potential uses as programmable blockchains.

What are the differences between Zilliqa and Bitcoin?

Bitcoin is the original digital currency and the largest according to market capitalization today. Bitcoin is a medium of exchange and a store of value. Bitcoin has a different objective and consensus to Zilliqa, in addition to having a higher trading volume and overall price performance.

What are the differences between Zilliqa and Ethereum?

Ethereum has a slower transaction speed of 10-15 TPS, while Zilliqa can perform up to 2,500 TPOS. The network of Zilliqa has more nodes, making it infinitely more scalable.

While Ethereum is still using PoS consensus, Zilliqa uses pBFT, and PoW is simply used to verify identities so that Sybil attacks are prevented.

The smart contracts on Zilliqa's blockchain are different because Scilla is the programming language used, while Ethereum uses Solidity. In addition, Zilliqa's smart contracts are not Turing-complete.

Zilliqa uses sharding to increase its scalability while Ethereum is still trying to convert from a PoW to PoS, with scalability still an issue.

What are the differences between Zilliqa and Dogecoin?

Dogecoin (DOGE) was created as a joke in the United States in 2013, but it swiftly grew in popularity. It grew in popularity as a cryptocurrency (DOGE) for tipping content providers on Telegram and Reddit.

Zilliqa is a piece of software that intends to incentivize a worldwide, distributed network of computers to operate a blockchain platform to increase user scalability via sharding.

What are the differences between Zilliqa and NEO?

In general, Zilliqa's usefulness is inferior to Neo's. However, Zilliqa's usefulness is predicted to grow, and, shortly, it may outperform Neo.

Zilliqa and Neo both offer smart contracts, which enable developers to construct decentralized apps on top of respective protocols. In terms of inflation, Zilliqa has around four times the rate of Neo.

It is worth mentioning that Zilliqa now has a very high inflation rate of 13%. However, this is projected to reduce shortly. Zilliqa and Neo both support staking, with ZIL offering a 15% annual percentage yield and NEO offering a 3% annual percentage yield.

What are the differences between Zilliqa and NFTs?

Nonfungible tokens (NFTs) are digital assets that each have a unique value, with no two NFTs holding the same characteristics or value as another. Zilliqa, on the other hand, is fungible, which means that one ZIL has the same value and characteristics as another ZIL.

What is Non-Custodial Staking?

Custodial staking refers to a blockchain project holding the user's financial assets. This means that the user trusts the project with the funds and the security thereof.

While most custodian staking platforms are trustworthy, there can be several issues, especially where cyberattacks are concerned. 

Non-custodial staking refers to the user's ability to choose how they want to stake on any PoS network, given that the project's rules and tools grant the user access to do so.

With Non-custodial staking, the user can choose their validators and their staking period. This is something that is predetermined with custodial staking.

With non-custodial on-chain governance, users can be certain that every vote is valid at the time it is cast and that peace of mind should only increase in significance as these blockchain networks mature and flourish.

 Some of the best non-custodial crypto staking and lending entities include:

• Lido offers non-custodial staking on Ethereum, Terra, and Solana
• BloxStaking can be used on Ethereum
• Stakewaise can be used on Ethereum
• Allnodes can be used on Ethereum
• Sovryn
• Ledger can be used for non-custodial staking on Algorand, Tezos, Cosmos, TRON, Ethereum, and Polkadot.

Which wallets accept ZIL tokens?

The following wallets are compatible with ZIL, according to the official Zilliqa website:

• Moonlet
• ZilPay
• Ledger
• Guarda Wallet
• Zillet
• Atomic Wallet

What is PoS?

Proof of Stake is a consensus mechanism that uses validators to verify block transactions. To participate in consensus, validators must stake a certain number of tokens as collateral for a certain period.

Proof-of-stake is intended to alleviate some of the issues about the proof-of-work (PoW) protocol's scalability and environmental sustainability.

What is PoW?

Proof of work (PoW) is a decentralized consensus technique that forces network participants to spend a certain amount of effort and time solving a random mathematical problem to prevent the system from being hacked.

Proof of work is frequently employed in cryptocurrency mining, both for transaction validation and mining new coins.

What is the difference between PoS and PoW?

The differences between PoS and PoW are as follows:

• The likelihood of mining a block in PoW is determined by the amount of computing labor performed by the miner. In PoS, the likelihood of certifying a new block is determined by the size of a stake held by an individual (how many coins they possess and stake).
• With PoW, the reward is given to the first miner that can solve the cryptographic puzzle, while on a PoS, validators do not receive a block reward, but they can earn network fees from staking.
• In PoW, miners compete to add blocks to the chain and to solve puzzles to earn them a reward. In PoS, there is no competition because validators/block creators are chosen randomly by an algorithm.
• To add a malicious block with a PoW blockchain, attackers must have 51% computational power. To add a malicious block on a PoS blockchain, hackers would need to own 51% of all staked cryptocurrencies on the public blockchain platform.
• PoW systems are not energy efficient and are often criticized for this. PoS systems are more cost-effective and energy-efficient.
• To optimize processing power, miners need specialized equipment on a PoW blockchain, while PoS does not have this.
• With PoW, there is an initial investment required to buy mining rigs. With PoS, the initial investment involves buying and staking tokens to build a reputation.