Review on Zilliqa by Robiul Islam
A scalable, secure public blockchain platform.
Scalability is the main Problem with today’s blockchain technology. For this cause, Zilliqa is trying to build the quickest blockchain in the market. It is an open source project that was developed to scale and allow thousands of transactions per second.
It will grant its users to pay for sending transactions and running smart contracts similar to how ETH uses Ether as Gas. They reached a peak throughput of 2,828 transactions per second with a thousand nodes. Further, an fascinating thing about the Zilliqa is that the throughput raise linearly as the size of the network increases. It means the more transactions, the quicker the network is. Network throughput is the amount of data that is moved successfully from one place to another in the given time period.
It uses an optimized Practical Byzantine Fault Tolerance (PBFT) as a protocol for consensus. At last, this takes much less electricity. Its unique proof of work and PBFT allows for much lower transaction fees. Its block time is 2 minutes and it’s doing a proof of work algorithm is about 16 blocks which is every two hours. Finally, it then switches automatically to PBFT.
Updated 5 years ago
Rating has not been changed
Binance will support another token swap for Zilliqa, converting ERC20s into mainnet ZILs.
Unstoppable Domains Goes live with .zil Auction
Domains names will now be distributed to those who those who pre-ordered domain names, and will officially go live on the chain. Once domains go live, you will be able to use your .zil domain for payments with their first supporting wallet Moonlet.
Pros
- It has a strong community, High speed transaction process.
- First platform to use sharding technology.
- Its Scilla smart contract language is resistant to bugs.
- It is built to scale to growing demand, It is built specifically for dApps that require high transaction rates.
- The network will be very secure and offer competitive transactions fees.
Cons
- Lack of members from a business background.
- It may run into issues with storage.
- It has a lot of competition in dApp platforms.
