ZilliqaZIL to AUD

What is Sharding?

Sharding divides an extensive network into a small individual network parallelly. Each shared processes its macroblock parallelly with other shards, and the result will be collected into a final one.

 

Who created Zilliqa (ZIL)?

In June 2017, Zilliqa was launched by Xinshu Don and Amrit Kumar, researchers from the national university of Singapore.

 

How Does Zilliqa (ZIL) Work?

ZIL is unique and entirely built on the sharded structure. As we discussed, Sharding is a term that divides the network into smaller nodes. This feature is not new but first time used by Zilliqa in the blockchain. This research was conducted by a Singapore university named National University. Nodes are required to hold 600+ nodes to function correctly.

 

ZIL: it is a native currency of Zilliqa Blockchain. The primary use of ZIL is currency. On the other side, it is also used in smart contracts to execute it and miners get rewarded for network and security.

 

Scilla: this is a new scripting language, and this is a smart contract language and more secure than other languages. Scilla offers a more secure and robust programming language to developers.

 

DAPPS: Zilliqa has many decentralized applications live, and many more are on the way to be lived.  

 

Staking: ZIL users can earn more ZIL by staking. Currently, the ZIL platform offers a 6% annual return. They are very impressive, and various staking nodes are available for users on the platforms included, including Moonlet, Staked, Atomic Wallet, Zillacracy, and many more with secured annual returns.

 

Proof-of-Work of Zilliqa (ZIL): ZIL required the only POW on every 100 blocks. The work of PoW is to prevent Sybil attacks and generate identity nodes and not to behave consensus like Bitcoin.

 

What Makes Zilliqa Unique?

ZIL calls itself the world's first public blockchain, which is based on a shared network. That means it can produce high throughput and more transactions per second. Sharded solves the scalability problem because sharded processes do transactions individually. Whenever networks grow, shards increase and the number of transactions also increases. No additional time is required for records confirmation in the ZIL blockchain because records will be added promptly after the process is done. Zilliqa blockchain is required for large-cap businesses, including financial services, advertising, enterprise, gaming, and payment industries, making ZIL unique. 

 

Is Zilliqa secure?

Blockchains are very safe, and they use centralized data storage like Google and Visa. Thousands make blockchains of systems impossible to hack. To hack blockchains, you need to get control of all nodes.

 

There are two main security features of Zilliqa.

 

• Zilliqa has an HCM(Hybrid consensus mechanism): this is the first layer of Zilliqa. It checks the identity of nodes and stops cyber-attacks. In the second layer, HCM can finalize the transactions. So, there is no space for hard forks on the network.  
• Scilla: it is a coding language, and it allows developers to build software and perform on the platform very safely. 

 

As we discussed, Zilliqa is safe but made by humans. So, there is no guarantee to keep ZIL safe for a long time. ZIL developers are working to improve its security day by day to keep ZIL secure.

 

The circulating supply of Zilliqa(ZIL)

Zilliqa is currently ranking on the number #69 globally. It comes under the top #100 valuable cryptocurrencies globally with the $1.81($ 1,809,805,495)billion market cap. The current circulating supply of ZIL is 12.79(12,790,226,440.80) billion out of the total supply of 21.00(21,000,000,000.00) billion. Its MAX supply is 21.00(21,000,000,000.00) billion, and currently, 24h trading volume is $ 174.02($ 174,020,985) million.

 

How to buy Zilliqa(ZIL)?

ZIL is now very popular among investors and growing day by day. So, it is available on all exchanges but buying ZIL from top exchanges makes our investment more secure and valuable. Create an account on any crypto exchange in just three simple steps includes: 

• Signup to exchanges
• Verify identity and despite funds.
• Start buying and trading Ripple.

Once identification gets verified from the selected exchange, start buying or trading in ZIL. We are listing down some top and valuable exchange lists where ZIL is trading. 

• Binance
• Upbit
• HitBTC
• OKEx
• Huobi Global
• KuCoin
• WazirX
• Gate.io

Many exchanges do not allow users to deposit fiat currencies like INR, EURS, USD. In this case, buy other stable cryptocurrency pairs such as USDT/ZIL, USDC/ZIL, BTC/ZIL, ETH/ZIL equivalent to your decided fiat currency, and convert it to the ZIL.