Cryptocurrency markets are being accessed by common people every day and many of the top crypto performers are being analyzed every day in order to track their success and profit to ascertain which crypto could lead their investor towards massive gains more easily and quickly. Zilliqa is such a coin which was included with Bytecoin and 0x as yesterday’s double-digit gainer. In this article, we shall discuss the main idea behind Zilliqa project and its achievements so far.
What is Zilliqa?
In the financial services sectors, Zilliqa is a Singapore based blockchain project has gained favor along with very few blockchain projects. Its Initial Coin Offering took place in late 2017 and continued to be successful till this year’s Q1. When compared to its competitor coins, Zilliqa has been performing much better and gaining investors ever since. People expect blockchain to operate seamlessly assuming it can be scaled to proper levels but that’s hardly the case with public blockchain including Bitcoin and Ethereum. Being a public blockchain, Zilliqa aims to maximize scalability within the blockchain technology.
It focusses on high-throughput and ‘sharding’. Zilliqa also brings new processes and various protocol to achieve higher transaction rates. Zilliqa was tested and made a record of an impressive throughput of 1389 transactions per second. The developers at Zilliqa have devised a plan to make progress on decentralized apps, smart contract and quantifiable security which sometimes makes Zilliqa sound like an improved version of Ethereum. $ZIL is the currency on the Zilliqa blockchain and aims to issue security and scalability problems of blockchain technology by employing Proof-of-Work as authorizing security instead of a consensus mechanism. It is also possible that the Zilliqa developers created it as a way to provide decentralized solutions for machine learning as well as financial algorithms.
Reasons for Recent Performance:
Zilliqa has recently reached a promising achievement. It is now included in the above $1 billion USD market capital cryptocurrencies. The Zilliqa project has surely traversed this path from an ICO to a crypto raking in $1 billion USD worth market capital in a very short duration as compared to other crypto projects. It wouldn’t be possible without a perfect strategy and without the support from its dedicated community. As we all know the crypto markets have always been quick to react to any speculation or buzz. This is why Zilliqa has been hitting headlines after headlines to grow their presence.
Exchange Listings and Alliances:
The performance of a crypto project and its trading volume is decided by the fact whether it is listed on several active cryptocurrency exchanges or not. In case of Zilliqa, its team has been busy in getting the cryptocurrency listed on as many famous exchanges it can. This is why the bull run of Zilliqa has continued since April. Any person who had invested in the coin before April may have successfully quadrupled their investment by now. It has been listed and trading on some of the most well-known and active exchanges such as:
- Global Exchange
The Zilliqa team has also made strategic alliances with some of the best companies such as global brain blockchain labs, Bluezelle, Kyber Network, Genaro Network but one of the most vital partnership was made back in April when Zilliqa joined Deloitte and FWD as the launching partner of insurance market’s multi-suite insurance project. All of these indicate that there’ll be many meaningful and worth mentioning partnerships of Zilliqa in the coming days.
Zilliqa has become the second blockchain project which has reached the total market cap of $1 billion USD after Qtum. Back in April, the individual price of Zilliqa stood at $0.042 USD according to CoinMarketCap and within a month this figure reached to $0.132 USD even after suffering from massive fluctuations. The coin has proved to be a worthwhile investment as of now. At the time of writing this article, it is ranked as the 23rd biggest cryptocurrency with a total market cap of $1.17 billion USD while the price of $ZIL has reached $0.161 and is rising at a rate of 13.5%. The trading volume for the past 24 hours is $112 million USD worth of $ZIL which is quite impressive.
There is no point in denying the fact that Zilliqa seems like the main ingredient to the recipe of success but given the nature of crypto markets its best not to bet it all on one promising blockchain project. With the ongoing regulations over Bitcoin and Ethereum and many other speculations are sure to affect the markets and transform the current situations. But it’s obvious that Zilliqa is sure to show its competitors how to conquer the markets in future.
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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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