Zilliqa (ZIL) is a new kid in the cryptocurrency block and just eight months; the young cryptocurrency is already posing a big threat to other established currencies such as Ethereum. What has made this blockchain technology and virtual currency to stand out is its decision to stay out of the media limelight and headlines to instead concentrate on the development of its infrastructure and the closing of existing gaps and loopholes that have been neglected by other cryptocurrencies.
Zilliqa (ZIL) might not have received a lot of attention before, but from the careful review, the digital asset is showing signs that it might be one of the projects worth observing and following in Q4 of 2018 and into 2019.
Although recording steady and impressive growth, the lead project team appears to have neglected an important component that might prove to be of importance in the success of the blockchain technology and virtual currency, marketing their product.
At present, the current growth being witnessed on the blockchain technology is a result of the efficient and effective technology and infrastructure driving the blockchain technology. Since inception, the stellar system performance has been the major marketing tool for the technological savvy individuals, but for the ordinary investor or trader, the price value of the digital coin is what is driving them to invest in the digital asset.
When you ask a Zilliqa (ZIL) follower and adopter what draws them towards the virtual currency, they will respond back to you that the security of the platform is one of the safest dApp hub in the market, its unsurpassed delivery throughput, and its efficient smart contract distribution environment. All these attributes might sound similar to other virtual currencies, but Zilliqa has the upper hand compared to them. Here is why:
Zilliqa is Immune to Sybil Attacks
Zilliqa does not take security and securing their platform lightly. By deploying the pBFT better known as practical Byzantine Fault Tolerance attribute, Zilliqa manages to strengthen the networks’ consensus governance backed by proof of work that safeguards the blockchain technology against Sybil threats.
In comparison to bitcoin’s consensus protocol, the pBFT technology takes a superior position as it does not require block confirmation in terminating any initiated process or transaction.
Sharding Attribute Available in Zilliqa (ZIL)
In the blockchain industry, Sharding technology is a first one by Zilliqa that assists the blockchain technology’s weight in making transactions smooth and fast. For other cryptocurrencies such as Ethereum who have been struggling with containing storage, bottlenecks are exploring ways they can implement Sharding in their operations. The adoption of the sharding technology is assisting reducing Ethereum’s transaction speeds that have been the cause of driving their costs up.
At the time of writing, the Zilliqa website reports that the performance bar of the blockchain technology stands at 2,837 TPS. The exact TPS for Zilliqa is yet to be established as the stress testing is still in process. How sharding works are by breaking down huge chunks of nodes which in turn produces improved throughput.
The Anticipated Zilliqa Q4 MainNet Launch
Zilliqa (ZIL) is attracting a lot of interest from significant companies and firms as the blockchain technology aligns itself in coming in agreement with strategic partners and launching its much-awaited MainNet at the end of this year or early next year.
According to earlier reports from the company, the mainnet was supposed to be launched in Q3 this year, but due to the need for more time to work on features that include the integration of wallets, preparation for token swaps, development of tool-chains among other features, it will be launched in Q4. Upon the launch of the mainnet, Zilliqa stands to gain and grow by three folds.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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