1 Level
6 Review
3 Karma
Review on Zilliqa by Alexandra Wells
Lower Transaction Fees - Ziliqa’s unique POW + PBFT algorithm allow for much…
Lower Transaction Fees - Ziliqa’s unique POW + PBFT algorithm allow for much lower transaction fees than competing blockchains like Ethereum and NEO. Smart Contracts - Zilliqa includes a smart contract layer (currently being built and due in Q2) on top of the blockchain layer. This smart contract layer will include a Scilla a Solidary-like language.
Pros
- Sharding implemted NOW; not just mere promises or vapourware. • TX speeds increases linearly i.e the network's throughput capacity increases as new nodes join the network. • Very Secure Network - Zilliqa has a very secure & unique consensus algorithm Practical Byzantine Fault Tolerance (PBFT). • Environmentally friendly - With Zilliqa, Proof of Work is only used to establish identity and one POW writes to multiple blocks at a time (rather than 1 single one) resulting in less energy used (vs Bitcoin or Ethereum) and higher rewards for the miners.
Cons
- Storage Challenge -Due to a high throughput (thousands of TX per second), Gigabytes of data will be needed for storage. Zilliqa does transaction sharding, not state sharding, which essentially means each node has to store all the data. This is only possible with terabytes of storage available. The question is how Zilliqa manages to do it and if they can do it in such a way that does not negatively impact the high throughput ability of their blockchain.
