What is Zilliqa Coin?
Zilliqa Coin is a native cryptocurrency of Zilliqa network that is built on top of computational sharding through a process known as parallelization process. The reason behind utilzing a unique distributed information processing technology was to eliminate issues such as low transaction speed faced by traditional decentralized cryptocurrencies like Bitcoin and Ethereum.
To overcome this conflict, Zilliqa developers applied sharding systems that applied distributed protocols to a single database. These solutions have also been effective in solving data processing rates that have been slowed by repeated code execution and countless conditional statements. Therefore, Ziliqa has the world’s fastest transaction processing power per second. Thanks to this phenomena, Zilliqa is evaluated as the next-generation cryptocurrency and has a positive outlook.
Who Founded Zilliqa?
Zilliqa was co-founded by two crypto enthusiasts Amrit Kumar and Xinshu Don. Both are associated with National University of Singapore as researchers. After graduation, Xinshu Dong started his career in mobile software, web development, and cyber-physical systems.
Afterwards, he decided to apply the sharding system that he was studying when he was attending Singapore University to the cryptocurrency field. Finally, he succeeded in solving the processing speed of the blockchain with his colleague as he introduced Zilliqa to the world, which has potential for additional technological scalability.
What is the Purpose of Zilliqa?
As the cryptocurrency sector grows, new opportunities are constantly emerging. For all blockchain users who want a more dependable and secure blockchain and those who want to rule the cryptocurrency world, Zilliqa blockchain provides its investors with golden opportunities in this brand-new, developing world.
Scalability issues plague the majority of blockchain users. The point of blockchain scalability has been in the spotlight for some time since most coins are attempting to scale themselves. Finally, Zilliqa has developed a solution to this problem for users. Zilliqa is the kind of network design that started from scratch; safe, practical, and quick.
Zilliqa is here to provide its users with large-scale market opportunities made possible by secure blockchain. Zilliqa’s blockchain splits into smaller component networks offering high-volume transactions to serve its users better.
While sharing thoughts developers of the network said, “The goal is to serve our users, which Zilliq has accomplished by managing the daily handlings of thousands of transactions and billions of ads and ad impression on the Zilliqa Ads network.”
Additionally, Zilliqa has provided a transaction sharding convention to ensure exchanges and a network-level sharding mechanism to divide the hubs within the arrangement to handle exchanges in parallel. Zilliqa’s provision of Hybrid Consensus Mechanisms is another goal. In contrast to other blockchains, this mechanism allows for quick transactions while using comparatively less computing power.
Fairness for our users is one of Zilliqa’s other goals. Numerous blockchain platforms need help to work effectively with their users during the auction process. Zilliqa is available to assist its users with the auction process as well.
It has created a protocol for its users that uses several novel techniques to enable nearly all honest nodes to quickly and unambiguously decide for sale requests and bids processed throughout the network.
How Does Zilliqa Work?
Zilliqa has introduced sharding technology to overcome difficulties faced by various blockchains. Zilliqa is an open blockchain that any user can access easily. The blockchain works by dividing the network into smaller divisions (clusters) known as shards. Unlike traditional transactions, Zilliqa’s every shard can perform transactions independently, making the network fast.
Operating Zilliqa also includes verification processes. The faster the shards work, the faster they can process multiple transactions simultaneously. Zilliqa has done this by also moving verification to the shard level, where nodes are not required to process entire data blocks; it can achieve this.
A group of nodes creates a delivery service committee in the second layer of Zilliqa, which unifies the smaller blocks into a single entity. By accessing the entire blockchain, the DS committee can check to see if the verification is accurate.
Due to extremely scalable computations system, Zilliqa is capable to be used as a file and transaction processing platform in various industries including automated bidding, ofinancial modeling, supply chain for advertising, shared economies and more. The platform also support smart contracts that allow developers to build decentralized applications on Zillqa network.
How is Zilliqa Used?
Zilliqa blockchain is based on sharding technology and employs an unconventional consensus mechanism. The Zilliqa coin (ZIL) is the cryptocurrency of the Zilliqa blockchain. ZIL is used to pay for blockchain transactions. The process of using ZIL to fund transactions on the Zilliqa blockchain happens automatically. On the Zilliqa blockchain, transactions are funded using Zilliqa coins.
Just like any other cryptocurrency in order to purchase and store zilliqa coin, you’ll need to have a private wallet that support Zilliqa network. There are plenty of options available such as MetaMast, Trust wallet, Coinbase wallet and more that support Zilliqa network and you can easily store your friends there. That’s not all, anyone wh owns ZIL the native token of platform can also assist in running the network by validating transactions and in return will get rewarded with incentives.
How to Buy Zilliqa?
You can easily buy Zilliqa by using Binance. Options are plentiful on Binance, with the lowest fees and highest security available anywhere Binance is supported. A step-by-step guide for buying Zilliqa is mentioned below.
1. Create a Binance Account:
Your Binance account serves as a portal for purchasing Zilliqa coin. But first, you’ll need to create an account to buy Zilliqa (ZIL).
2. Choose how you want to buy the coin
- Debit and Credit Cards: A card is the simplest method for new users to buy Zilliqa (ZIL). Visa and MasterCard are both accepted by Binance
- Banking Deposit: Put fiat money from your bank account into Binance, then use that sum to purchase Zilliqa (ZIL)
- P2P Trading: Utilize Binance’s peer-to-peer service to purchase Zilliqa (ZIL) directly from other users.
- Payment to a third party: For third-party payment channels, there are many choices. You can check Binance to see which are offered in your area.
3. Store and use Zilliqa on Binance:
Zilliqa coin (ZIL) can be kept in your cryptocurrency wallet or Binance account. Users can trade Zilliqa coin for other cryptocurrencies, and they can also stake it on Binance Earn. Users can also check out Binance crypto wallets with millions of assets and blockchains if they want to trade Zilliqa (ZIL) to a decentralized exchange.
How can we stake Zilliqa?
Using your cryptocurrency assets to support a blockchain network and validate transactions is a process known as “staking.” Staking enables users to receive rewards on their holdings, and many cryptocurrencies utilize to verify transactions. Staking, which some cryptocurrencies reward with high-interest rates, can be a fantastic way to use your cryptocurrency to generate passive income.
Staking is how cryptocurrencies add new transactions to the blockchain that employ the proof-of-stake model. For rewards, some blockchains use a different kind of cryptocurrency. Owning a cryptocurrency that utilizes the proof-of-stake model is a requirement if you want to stake cryptocurrency.
By simply keeping coins and tokens in your account, you can earn rewards with Zilliqa Staking. By staking your Zilliqa coins, you can increase your earnings while they are sitting in your account and put them to work. In short, Zilliqa is built to scale in every aspect.
Comparison of Zilliqa:
Harmony (ONE) vs. Zilliqa (ZIL)
Harmony (ONE) and Zilliqa (ZIL) are public blockchain networks that employ more efficient and secure designs than traditional blockchains. Both networks use a consensus algorithm called Proof-of-Stake (PoS). Harmony is a blockchain network designed to scale quickly and securely with a consensus algorithm based on sharding. Harmony is designed with a native token, ONE, used for staking, transactions, and rewards.
Zilliqa (ZIL) is a blockchain network that provides high-throughput and low-latency transactions. Zilliqa uses a consensus algorithm called Practical Byzantine Fault Tolerance (PBFT). Zilliqa also has a native token, ZIL, which is used for staking, transactions, and rewards.
Harmony and Zilliqa have similarities and significant differences. Both networks use a consensus algorithm based on PoS and have native tokens, but their consensus algorithms are different. Harmony uses a sharding-based consensus algorithm, while Zilliqa uses PBFT.
This distinction means that the two networks have different scalability and transaction throughput levels. Harmony is more scalable and can process up to 10,000 transactions per second, while Zilliqa is designed to be more secure and can process up to 2,488 transactions per second.
Both networks also have different types of staking rewards. Harmony rewards staking participants with ONE token, while Zilliqa rewards staking participants with ZIL tokens. The number of rewards participants can earn on each network depends on how many tokens they have staked.
Ethereum vs. Zilliqa (ZIL)
Ethereum and Zilliqa (ZIL) are public blockchain networks, but they differ significantly. Ethereum is a first-generation blockchain network that uses a consensus algorithm based on Proof-of-Work (PoW). This contrast means Ethereum is less efficient and secure than other blockchain networks. Ethereum is also not designed to scale quickly, as it can only process up to 15 transactions per second.
Zilliqa (ZIL) is a second-generation blockchain network that uses a consensus algorithm based on Practical Byzantine Fault Tolerance (PBFT). Zilliqa is designed to scale quickly and can process up to 2,488 transactions per second. This difference means that Zilliqa is more efficient and secure than Ethereum.
Both networks have native tokens, but the tokens have different functions. Ethereum’s native token, Ether (ETH), is used for staking, transactions, and rewards. Zilliqa’s native token, ZIL, is also used for staking, transactions, and rewards, but it also has additional functions such as governance and security.
Solana vs. Zilliqa (ZIL)
Solana and Zilliqa (ZIL) are both public blockchain networks that are more efficient and secure than traditional blockchains. Solana is a blockchain network that set off to scale quickly and securely with a consensus algorithm that is based on sharding. Solana has a native token, SOL, used for staking, transactions, and rewards.
Zilliqa is a blockchain network that delivers high-throughput and low-latency transactions. Zilliqa uses a consensus algorithm called Practical Byzantine Fault Tolerance (PBFT). Zilliqa also has a native token, ZIL, that is used for staking, transactions, and rewards.
Solana and Zilliqa have similarities and significant differences. Both networks use a consensus algorithm based on sharding and have native tokens, but their consensus algorithms are distinct. Solana uses a sharding-based consensus algorithm, while Zilliqa uses PBFT.
This variation means that the two networks have different scalability and transaction throughput levels. Solana is more scalable and can process up to 50,000 transactions per second, while Zilliqa is more secure and can process up to 2,488 transactions per second.
Both networks also have different types of staking rewards. Solana rewards staking participants with SOL tokens, while Zilliqa rewards staking participants with ZIL tokens. The number of rewards that participants can earn on each network depends on the number of tokens they have staked.
Cardano vs. Zilliqa (ZIL)
Cardano and Zilliqa (ZIL) are both public blockchain networks designed to be more efficient and secure than traditional blockchains. Cardano is a blockchain network designed to scale quickly and securely with a consensus algorithm based on a delegated Proof-of-Stake (DPoS). Cardano’s native token, ADA, performs on staking, transactions, and rewards.
Zilliqa has a blockchain network that supplies high-throughput and low-latency transactions. Zilliqa uses a consensus algorithm called Practical Byzantine Fault Tolerance (PBFT). Zilliqa also has a native token, ZIL, that functions on staking, transactions, and rewards.
Cardano and Zilliqa have similarities but also significant variances. Both networks use a consensus algorithm based on PoS and have native tokens, but their consensus algorithms are different. Cardano uses a DPoS-based consensus algorithm, while Zilliqa uses PBFT.
This variation means that the two networks have different scalability and transaction throughput levels. Cardano is more scalable and can process up to 250 transactions per second, while Zilliqa is more secure and can process up to 2,488 transactions per second.
Both networks also have different types of staking rewards. Cardano rewards staking participants with ADA tokens, while Zilliqa rewards staking participants with ZIL tokens. The number of rewards that participants can earn on each network depends on the amount of staked tokens.
Is Zilliqa safe?
Yes, Zilliqa (ZIL) is a safe and secure blockchain network. Zilliqa has a consensus algorithm called Practical Byzantine Fault Tolerance (PBFT). This consensus algorithm is designed to provide high-throughput and low-latency transactions and secure and efficient consensus.
Zilliqa also uses a sharding-based scaling mechanism to increase the number of transactions that the network can handle. This scaling mechanism ensures that the blockchain is not overloaded and that transactions are processed quickly and securely.
In addition, Zilliqa has implemented some security measures to protect the network and its users. These security measures include a secure storage wallet, multi-signature transactions, and a secure random number generator. These security measures ensure that transactions are safe and that the network is protected from malicious actors.
Here are some factors that investors should consider before investing in Zilliqa.
|Cryptocurrency Features||Zilliqa (ZIL)|
|Publisher or Developers||Zilliqa (CEO. Xinshu Dong)|
|Headquarters (Registration Number)||Singapore|
|Published Date (CMC Registration)||2018-01-25|
|Max Supply||21,000,000,000 ZIL|
Reliability Score of Zilliqa in 2023
These are indexes mesuring the investment reliability of Zilliqa conducted by Coin-Labs.
|Investment Reliability Rating Items||Scores and Current Status|
|Company Activation Rate||4.4 / 10.0 CAR|
|Communication Rate||9.7 / 10.0 CR|
|Technology Transparency Rate||7.8 / 10.0 TTR|
|Development Participation Rate||9.4 / 10.0 DPR|
|Listing Status on the World's Top 10 Exchanges||Listed on 8 Exchanges|
|Number of Available Pairs Worldwide||245 Pairs|
|Market Cap of the Cryptocurrency||591,029,969,573 KRW (Rank #88)|
Here are the price and recent trading volume of Zilliqa. (Data of 2023-03-22 16:12:25)
|Price Items||Price and Trading Volume of Zilliqa|
|Zilliqa Price||37.247 KRW|
|Price Change 24h||3.96%|
|Price Change 7d||-2.07%|
|Trading Volume 24h||51,723,571,232 KRW|
|Trading Volume Change 24h||-10.79%|
You can check the development status and social media information of Zilliqa through the links in the table below.
|🌎 Official Website||https://www.zilliqa.com/|
|📖 White Paper||https://docs.zilliqa.com/whitepaper.pdf|
|🛰️ Source Code (GitHub)||https://github.com/Zilliqa/Zilliqa|
|🎺 Message Board||https://blog.zilliqa.com|
Where to Buy Zilliqa
Here are the top ten world crypto exchanges where traders can buy Zilliqa in 2023.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Zilliqa?
Zilliqa price today is 37.247 KRW. Furthermore, the price of Zilliqa has fluctuated by 3.96% from 24 hours ago, and by -2.07% from a week ago.
Where is Zilliqa listed?
Currently, it is listed on a total of 8 among the world top 10 exchanges.
What is the market cap of Zilliqa now?
Currently, Zilliqa has a market cap of 591,029,969,573 KRW, which is ranking 88 among cryptocurrencies worldwide.
How much is the trade volume of Zilliqa?
Currently, 15,867,699,447 ZIL coins are circulating through 245 market pairs. As a result, in the last 24 hours, 51,723,571,232 KRW of ZIL coins were traded in the market.