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What Is Zilliqa
Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.
Development work officially started on Zilliqa in June 2017, and its testnet went live in March 2018. A little over a year later, in June 2019, the platform launched its mainnet. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.
At Zilliqa, they leverage on our silicon-smooth, speedy and cost-effective blockchain platform to catalyse and transform digital infrastructure across all global communities and industries.
Zilliqa Key Points
Zilliqa at a glance
We’re committed to delivering a scalable and secure platform for developers and enterprises who wish to build decentralised applications.
Research Brought to Life
Zilliqa Cryptocurrency was born at the National University of Singapore and was the brainchild of a team of academics, entrepreneurs, and engineers. Our technology is backed by peer-reviewed academic research.
Mainnet Live Since Early 2019
With the launch of the mainnet in January 2019, they became the first public blockchain platform in the world to successfully utilise sharding as a scaling solution. Visit Research and Development Roadmap 2020 to see what’s coming next.
Sharding in Practice
The unique application of sharding allows the blockchain to scale in a linear fashion. This ensures that the Zilliqa platform can scale to meet the needs of a growing ecosystem of miners and applications.
Safe-by-Design Smart Contract Language
Zilliqa.com is powered by the first peer- reviewed and safe-by-design smart contract language called Scilla. Using functional programming design principles (as in OCaml) allows it to be more friendly towards static checks and formal verification.
Eco-Friendly Dual Mining
Thanks to Zilliqa’s consensus mechanism, the ecological footprint of mining has considerably been reduced. Only 1 minute out of every 2-3 hours is needed to mine ZIL, allowing one to dual-mine other chains at the same time.
Over 60 project teams from over 20 countries have contributed to Zilliqa’s ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, and more.
Non-Custodial Staking with Zilliqa
Competitive, lucrative staking offer set to drive more value and utility into Zilliqa.com circular economy. And introducing the governance ZIL token (gZIL), that enables long-term token holders to play a part in the Zilliqa ecosystem.
$ZIL Now Available on the Binance Widget!Buying $ZIL on Binance.com and Binance.US is now an even more user-friendly and seamless experience! With the integration of a $ZIL widget, Binance will be facilitating purchase and trading of $ZIL to users in over 170 countries.
Where should you store $ZIL?
A crypto wallet is essentially software that stores public or private keys and engages with a particular blockchain platform to enable users to send, receive and trade cryptocurrency, and keep a close watch on their asset balances.
Storing your $ZIL in wallets that are secure, user-friendly and accessible is of the utmost importance. Wallets come in several types such as hardware, software, desktop. Below, they share recommendations for the top mobile wallets you can use.
Zilliqa Improvement Proposal (ZIP-11)
This new ZIP-11 outlines the details of the non-custodial staking service that is currently being built for our core protocol. Key Highlights:-
- Uncapped staking with APR of 5-7%
- Governance token farming – $gZIL issued alongside $ZIL staking rewards
- Implementation is completed and testing of contracts is in the final stages
Build and Accelerate
ZILHive brings together all ecosystem initiatives – the accelerator, grants and educational programmes. By opening doors to talented people, and offering a supportive, resource-based platform for developers, learners and enthusiasts, they believe it will inspire more creative use cases, and drive enterprise adoption of blockchain.