Review on Zilliqa by Temitope Babatunde
Zilliqa project, A Solution To Scalability Problem.
Zilliqa project had its beginning in 2017 when a private sale of its native token Zil was carried out to raise fund for the project, and in January 2018 a public ICO was also carried out and it was successful. Singapore is the base and the present president of Zilliqa is Amrit Kumar who also double as chief scientific officer.
The project is set to solve a major problem of blockchain technology which is scalability, that is how a blockchain network can handle thousands of transactions in a short time as load increases. Several projects is out to solve this problem but the way zilliqa handled it is unique.
It divided each network into a group of 600 nodes and each node is known as Shard, as the network grows a new shard is added. Each shard creates a microblock as the transaction is ongoing each shard handle the transaction parallely and at the end of a period called DSEpoch, the microblocks are combined to form a block which is then added to the blockchain. So with this many transactions can be handled within a short period of time. As at August 2018 the Zilliqa network has been able to handle 2818 transactions per second.
It combines power of works and Byzantine fault tolerance to form its hybrid consensus mechanism. It has its mainnet in January 2019.The team has also developed a unique smart contract that can be very easy for the developers.
Zilliqa team is working round the clock to improve the project and this can be seen in the number of partnership they are having, like Elliptic, Switcheo etc.
Zil which is the native token can be found in major exchanges and can be store in various wallet available but the one recommended by the team is Moonlet wallet. With the look of things Zil might also be good investment to look into.
Pros
- The Zilliqa network can handle thousands of transactions in a second.
- The language that was use to write the programme of its smart contract is Scilla which is a very simple programming language that any dapp developer can easily understand.
- It has partnered with many popular projects to make the usefulness of it known.
- For the investors, all those who invested during the ICO must have realized their investments.
- It is highly decentralized because there is no central system controlling the network.
- It has a smart contract which allow other tokens to be written on it.
Cons
- Since Zilliqa network rebuild blockchain from scratch it will take time before majority of the blockchain community will see the value.
- The smart contract language is not Turing.
