The mention of Zilliqa [ZIL] might not ring a bell in most crypto enthusiasts. However, the blockchain platform could be the future of blockchain technology. For a relatively new venture, Zilliqa promises to increase our blockchain transactions by facilitating blazing speeds. Consequently, the capabilities could threaten the future of both Bitcoin and Ethereum. And while ZIL does not aim to compete with theses blockchain models, we cannot deny the potential with the new technology. You may ask where the possibility is coming from if the project it’s fresh. Well, with its inception, Zilliqa came with revolutionary functions that could change our blockchain scene.
Here are the factors that could make Zilliqa into something useful this 2018.
Scalability is a major problem facing most public blockchain platforms. However, Zilliqa [ZIL] linear stability is making it easier for transaction throughput. In Zilliqa’s network, the number of participating nodes increases at a linear rate to the transactions. That single capability is critical in scaling our next generation of internet applications, which our existing blockchains are failing to mount. Consequently, if Zilliqa gains the appropriate exposure, your next internet application could just be on the Zilliqa’s blockchain.
For a long time, Sharding was a concept that was proving useful in improving the rate of scalability, bandwidth, and performance. However, the technology was yet to integrate any public blockchain platform. Zilliqa is the first blockchain to accomplish such a fate, and the sharding process is vital in ensuring an automatic network parallelization. Each network of nodes gets split into shards which makes up micro-transactions in each of the blockchain blocks.
- Less energy intensive to mine
Another major plus that comes with Zilliqa is the reduction in the overall energy footprint when mining the cryptocurrency. The capability is a consequence of the implementation of a Proof-o-Work system. Unlike most POW Blockchain, the fundamental difference with Zilliqa is that there is no need to perform a POW while mining at every block. That is possible in Zilliqa due to the establishment of a mining identity protocol for the user instead of utilizing consensus. Consequently, this makes the mining process less time and energy
- Zilliqa smart contract language
To accomplish their goal of standardized and secure functional programming, Zilliqa [ZIL] developed the Scilla programming language. The concept behind the style is to separate the state and the function to distinguish the different communication aspects of a smart contract. And although the scripting is not Turing-complete, the writing makes up for the incompleteness of its advanced security features. Zilliqa intelligent contracts are easily verifiable if safe even before the user get to partake in the agreement.
Is Zilliqa capable of solving Blockchain’s scalability?
Yes. Zilliqa is proving to be an essential solution that could bring the transactions speeds to scale up to the millions. Nonetheless, the downside is that Zilliqa is not alone. There are several blockchain projects which are trying to improve the scalability of blockchain from the ground up. Some of these projects include Aelf, DFINITY, Rchain, and Kadena.
Additionally, it is going to take a considerable shift before people can live up to the fact that Ethereum is not safe. A majority of the crypto ventures are based on the Ethereum blockchain even though developers know it is not scalable. As a result, the potential for Zilliqa [ZIL] to change blockchain scalability will need we forfeit the use of other blockchains which I wouldn’t anticipate on happening anytime soon. The significant advantage that could see the increase in adoption is if the open source breakthroughs in sharding begin its implementation in upcoming blockchain projects.