Review on Zilliqa by Isaac Nelson

Name: Zilliqa
Item: Zilliqa
Rating: 4

September 19, 2018

Scalability is a very real problem in today’s blockchain industry, and Zilliqa…

Scalability is a very real problem in today’s blockchain industry, and Zilliqa is offering a head-on solution. The team has already provided evidence for the claims of the uniquely high-transaction throughput of its testnet, which provides good hopes for the speed of the mainnet once it’s launched. For now, the theoretically unlimited scalability of the Zilliqa blockchain is their core selling point, but the platform will likely have to offer more than that to be able to compete with industry giants such as Ethereum, EOS, and NEO. These platforms are rapidly increasing their networks and quality of their ecosystems, as well as coming up with solutions for their scalability concerns.
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Pros

Until the launch of the Zilliqa mainnet, the ZIL token is an ERC-20 token, meaning it is part of the Ethereum network. Once the mainnet is launched, ZIL will be moved to the Zilliqa blockchain and used as an incentive for miners to verify transactions, pay for transaction fees, and pay for smart contract execution. You can buy the ZIL token on these exchanges. As ZIL is currently based on the Ethereum blockchain, you can store ZIL in any Ethereum-compatible wallet, such as Metamask.

Cons

Platform blockchains are incredibly hot right now and Zilliqa faces fierce competition from the biggest networks in the industry, including Ethereum, EOS, and NEO. Although Zilliqa is technologically superior to Ethereum, and to some extent EOS and NEO, it is lacking in terms of projects actually launching on its platform compared to these and other blockchain platforms. Given Zilliqa’s theoretically unlimited scalability, we can assume it’s only a matter of time before the first applications start to create dapps on the platform. Still, it will remain a major challenge for Zilliqa to create an ecosystem that matches the size of several other big platforms in the industry, and in the end, blockchain platforms are valued based on the size of their network.