Zilliqa Cryptocurrency review

Zilliqa Review

One of the long lasting challenges that have faced the blockchain technology is that of scalability. This basically refers to the ability to process more transactions in a lesser period of time. This problem has plagued various cryptocurrency networks and various solutions have been implemented over the years. The Zilliqa network seeks to offer a solution to these scaling issue (PDF). The Zilliqa network happens to be the only network that makes use of “Sharding“. This enables the network’s blockchain to become fast as the size of the network grows. Sharding ensures that the Zilliqa network has increased limits on the number of transactions that could be processed each second. The network makes use of a hybrid mechanism that will increase the number of transactions that are to be carried out when there is an additional 600 nodes on the network. The Zilliqa team call it the ‘divide and conquer’ method. This works by dividing the network into 600 nodes and each group is known as a “Shard”.

These shards divide the number or amount of work that is done on the Zilliqa network. For example, if there are 10 shards, each shard will have to process or carry out only 10% of the transaction job thus making it fast. If the network experiences tremendous growth, more shards would have to be made available, thus dividing the load as well as keeping the demands for each of the shards stable and fair. This division makes the network faster.

Features of Zilliqa

  • Sharding; this is one of the most unique features of the Zilliqa network. On the network, this means the division of the mining network into smaller groups. These groups are responsible for the processing of transactions. This sharing of nodes makes the processing of transactions fast thus solving the scalability issue.
  • Another unique feature of the Zilliqa network is the fact that it makes use of the PoW algorithm to establish mining identities instead of as a consensus mechanism that requires tons of confirmations. This is different from what is obtainable in other cryptocurrency networks.
  • Scila; this is a contract language that was developed by the Zilliqa network to address some of the many challenges in the smart contract system. This is designed in such a way that large scale computations are run.

Pros

  • It has a strong and dedicated team members
  • It seeks to offer ultrafast transactions
  • It is a problem-solving network

Cons

  • The network is in competition with some of the top blockchain based platforms like Ethereum and EOS.

OVERALL COIN SCORE:

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Market Cap & Charts
  • zilliqa
  • Zilliqa
    (ZIL)
  • Price
    $0.02589
  • Market Cap
    204,637,401.00

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