The crypto-markets have gone against the grain after the SEC made the announcement that they will need more time to consider the rule change on the CBOE sponsored Bitcoin ETF. Many crypto traders and enthusiasts, had expected the worst which included BTC falling to levels of $5,800. But the opposite happened and the King of Crypto is now testing new levels of $6,700. XRP has also ridden the wave of glory and peaked briefly at $0.80 from levels of $0.27 only a few days ago.
$1 ZIL Price Prediction Due to A Market Recovery
It is therefore with the market events of the past few days that we can conclude that a market recovery is slowly becoming a reality. Ex-hedge fund manager and Billionaire, Michael Novogratz, confidently stated on the 12th of September, that Bitcoin had reached a bottom when it touched $6,200 on that day.
At first, his words were received with a lot of skepticism in the crypto-verse, but the market action witnessed in the last few days is enough evidence to agree with Mr. Novogratz and perhaps even call him a soothsayer.
As soon as this market recovery is confirmed in the next few weeks, the $1 ZIL price prediction can slowly become a reality.
Bakkt Factor
Before we get to the technical developments that would lead to Zilliqa getting to $1, there is the additional groundbreaking Wall Street firm of Bakkt that aims at making Bitcoin and other digital assets mainstream investment instruments. The firm intends on doing this by using already existing regulations and infrastructure to make this possible.
The firm clarified on their vision via twitter as follows, “Bakkt uses the existing, time-tested, regulated futures market infrastructure to introduce physically delivered Bitcoin and warehousing to global markets. All aspects of the existing futures market will, for the first time, be part of physical delivery and warehousing of Bitcoin.”
ZIL Technical Developments
With an existing Testnet, the Zilliqa team is carrying out final touches for the Mainnet launch that has been scheduled for somewhere between the end of this year and early next year. Once live, the team at Zilliqa has promised the following:
- Running on a scalable system that can support a high number of transactions per second (high throughput) without network clogging
- More secure platform by using Scilla, our safe-by-design smart contract language
- Low transaction fees
- To maintain decentralization
The existing testnet has showcased that it can handle a throughput of 2,828 transactions per minute with only 6 active shards. Therefore, it is exciting imagining what the Mainnet will accomplish in terms of throughput once fully functional.
DApps and Initiative With Mindshare
The team at ZIL recently updated on their joint initiative with Mindshare which is a global media and marketing services company. The firm has over 7,000 employees and $34.5 Billion in annual revenue. Through project Proton, both Mindshare and Zilliqa will work together to evaluate the ZIL protocol and how best it solves major issues in the advertising industry.
The Zilliqa team also plans on hitting the ground running once the Mainnet is launched. They have a running grant program that is meant to cater to start-ups that want to create DApps on the platform. They are constantly looking for great ideas and developers to bring them to fruition.
In conclusion, the Zilliqa project is a very promising project in terms of giving a fresh new platform for secure smart contracts and decentralized apps. Once the Mainnet goes live and with a crypto market recovers, the $1 ZIL price prediction can become a reality.
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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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