What is the Future of Zilliqa? (ZIL)

What is the Future of Zilliqa in this guide? We will answer questions such as who created it, what is its features and project.

Zilliqa is a cryptocurrency that aims to use shards to solve the scalability problems faced by many blockchains. Fragmentation is the process of dividing the mining network into smaller pieces that process transactions in parallel.

What is the Future of Zilliqa? (ZIL)
What is the Future of Zilliqa? (ZIL)

What is Zilliqa (ZIL) Coin?

Zilliqa is software that aims to incentivize a global, distributed network of computers to run a blockchain platform that aims to increase user scalability through sharding.

As such, Zilliza is one of a number of competing blockchains that aim to grow an ecosystem of decentralized applications (dapps) and cryptocurrencies such as Ethereum, Tron, and EOS.

To differentiate itself from the rest, Zilliqa uses a sharding process that splits its infrastructure into several interconnected blockchains to support further transactions.

Zilliqa has also released Scilla, a native programming language that focuses on security and allows developers to write and launch customizable dapps to replicate real-world services.

To achieve all these features, the network’s native cryptocurrency ZIL is used to run programs, send transactions, and incentivize the actors that support the network.

Who Created Zilliqa?

Zilliqa was launched in June 2017 by co-founders Amrit Kumar and Xinshu Don, two researchers from the National University of Singapore. The network’s mainnet went live in January 2019.

The project held an Initial Coin Offering (ICO) of the ZIL token at a time exceeding $22 million in ETH in 2017.

Zilliqa is backed by the founding company Zilliqa Research, as well as by ZILHive, a growth startup company.

What is the Future of Zilliqa? (ZIL)
What is the Future of Zilliqa? (ZIL)

How Does Zilliqa Work?

The Zilliqa network offers many features common to other cryptocurrency networks, such as smart contract, transaction settlement, and token issuance.

Developers can use the proprietary language Scilla to design new programs (decentralized applications) to run custom programming logic (smart contracts) and deliver various products and services.

While this system is complex in execution, Zilliqa is ultimately designed to execute smart contracts and approve network transactions in a scalable and efficient manner.

Zilliqa Coin Review and Future

Zilliqa’s cryptocurrency ZIL plays an important role in maintaining and operating its network and can be used for holding, sending and staking.

By owning and staking ZIL, users gain the ability to vote on network upgrades, with each vote proportional to the amount of ZIL tokens they stake.

Similar to many other cryptocurrencies, the supply of ZIL is limited, meaning it will only be 21 billion ZIL according to the software’s rules.

Users may find Zilliqa attractive based on its attempt to create a scalable and secure platform for decentralized applications.

In addition, developers may find the platform attractive for products and services that can generate high volumes of activity.

Investors can buy ZIL and try to add it to their portfolio if they believe the market will one day prefer scalable blockchains again.

How Many Zilliqa Coins Are There in Circulation?

  • Market Cap: $902,194,700 (02, May, 2022)
  • Circulating Supply: 12.725.098.237 ZIL
  • Total Supply: 16.016.565.390 ZIL
  • Max Supply: 21.000.000.000 ZIL
  • All Time High: (May 06, 2021) $0.2563
  • All Time Low: (Mar 13, 2020) $0.002477

Where Can You Buy Zilliqa (ZIL)?

Zilliqa’s native token, ZIL, is listed on several major cryptocurrency exchanges — including Binance, Huobi, Bitfinex and Bithumb — where it is available to be traded against fiat currencies, stablecoins and other cryptocurrencies.

What is the Future of Zilliqa in this guide? We answered the questions of who created it and how it works. Keep following us.

If you are having problems with your exchange, you can click here and buy safely by registering! Plus, you pay a lower commission fee!

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