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Review on Zilliqa by Louise Griffin
In the Zilliqa technical white paper it is stated that the Zilliqa blockchain…
In the Zilliqa technical white paper it is stated that the Zilliqa blockchain’s native tokens, Zillings, will be created upon launch of the Zilliqa mainnet. That creates a fungibility issue, making it unclear if ERC20 Zillings can be traded at the same rate of the native tokens when the Zilliqa mainnet launches. In addition to the sharding protocol for verifying transactions, Zilliqa claims to operate a proof-of-work protocol meaning that ZIL is a mineable token. The 21 billion Zillings will be mined over 6 years. Each 21 billion Zillings is further divisible by 12 decimal points, which means that 0.000000000001 is the smallest unit of a Zilling.
Pros
- From reading the technical white paper it is unclear if these 21 billion Zillings are the same as an ERC20 token or as the native Zilliqa blockchain token. In light of this, the reader can be excused for thinking the idea a tad ridiculous.
Cons
- The technical merits of the Zilliqa blockchain are not groundbreaking. The Zilliqa blockchain will be composed of off-the-shelf protocols. That means that there is little to indicate the Zilliqa development team are developing any new kind of blockchain technology other than combining pre-existing technologies.
