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Benaiah A. Akinlade photo
Nigeria, Osogbo, Osun State, Nigeria
1 Level
165 Review
110 Karma

Review on Zilliqa by Benaiah A. Akinlade

Revainrating 4 out of 5

It’s time to acquire as much ZIL as possible

Zilliqa was introduced in 2017. It is 40th in the rank of cryptocurrencies by market capitalisation.
Zilliqa (ZIL) revolves around the idea of sharding. Sharding means that data is spread across multiple computers. Zilliqa is the first public blockchain built solely on sharding architecture. The sharding means that all the Ethereum network is broken into multiple portions.
BENEFITS OF SHARDING
The main reason sharding architecture was adopted is to enhance the scalability of cryptocurrency networks such as Ethereum
Sharding allow transactions to be divided into smaller groups so that miners can perform parallel transactions.
Sharding increases the number of transactions that can be performed per time (2500 transactions Per Second)
It can increase the speed at which transactions are completed up to 1000 times more than that of Ethereum's network with a possibility of almost 2500 transactions in a second.
Zilliqa’s high efficiency means that developers and investors do not need to worry about network congestion.
Zilliqa bounced back from the crash in March 2020 to an appreciation of 950%. This is a surge from $0.0022 to close to $0.02.
Zilliqa’s official cryptocurrency token is ZIL coin (ZIL), which was introduced in 2018. It has remained in the top 50 since then
Zilliqa is powered by a smart contract programming language called Scilla. This programming language can address a lot of security vulnerabilities that other programming languages are battling with .
I opine that ZIL is worth investing in before is blows out of reach



Pros
  • Bouncing back from crash of March 2020 is a sign of stability
  • Transaction can be completed very fast
  • A lot of transactions can be processed simultaneously
  • Sharding architecture eliminates network failure
  • Scilla is adopted to eliminate network vulnerabilities
  • Low value of ZIL to USD makes to token easy to earn
  • ZIL maintainability of top 50 crypto coins since 2018 shows stability
Cons
  • Too dependent on Ethereum Blockchain
  • Value of ZIL to USD is still very low

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