What is Zilliqa?
Zilliqa is an ERC-20 token developed on ETH blockchain aimed towards the applications requiring high throughput. Zilliqa uses their proprietary "sharding" technology for scaling the blockchain network while the transaction throughput increases linearly with the number of nodes on the network. Zilliqa utilizes the Proof of Work (PoW) to establishing the mining identities. This process is used for network sharding. Presently Zilliqa is a token, however, the developers are working on the platform and have released testnet 2.0, aiming for the mainnet launch in January 2019. After the mainnet launch, ERC-20 tokens will be burnt into "Zillings" which will be analogous to ETH on Ethereum blockchain.
The purpose of this token is to increase the throughput of existing blockchain protocols such as Ethereum. With a network of 10,000 nodes, Zilliqa can surpass the average transactions on Visa and Mastercard with a lower fee. Although many other scaling solutions are available, what makes Zilliqa prominent is that it makes the blockchain protocol itself scaleable. The scalability protocol of Zilliqa is intrinsically integrated into network sharding, consensus protocol, and computational sharding. Some of the major uses for Zilliqa will be in gaming, entertainment, digital advertising, and streaming payment. Zilliqa has shown scaleability in high throughput applications such as automated high volume auctions, decentralized exchanges, and high-performance scientific computing.
Zilliqa was founded by Xinshu Dong who is a Ph.D. scientist for building secure systems. He was a technical lead for various national cybersecurity projects in Singapore. Currently, he is in the development of new public Zilliqa blockchain for high-throughput applications. Apart from X.Dong, the team consists of 6 other members expert in development, security, and research.
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