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Zilliqa is a blockchain protocol that claims to solve the problem of scalability, which is a major issue with existing blockchain technologies. Zilliqa changes the way blockchain reaches consensus. Ideally, there is no limit to the number of transactions that Zilliqa can process per second. But, depending on the nodes, Zilliqa can process thousands of transactions per second.
The sharding arena is a big advantage for Zilliqa platform. It definitely has a strong future, especially in the Asian market. Tokens on the Zilliqa platform are known as Zillings or ZIL. The current market cap of ZIL is ₹21,452,457,406.89 and its trading volume is ₹1,038,127,595.76.
Zilliqa instigated with a market cap of ₹20,601,707,600 on 1st March,2018 and reached a threshold of ₹3.30. There was a gradual decline in the price of Zilliqa. It stabilized at ₹3.19 on 20th March,2018 with a market cap of around ₹20,305,520,875.
On 19th February, 2018 the price of Zilliqa fluctuated and reached ₹4.45, with a market cap of ₹26,961,014,650. The inconsistent market trends pushed Zilliqa’s price to ₹3.41 on 28th February, 2018 and its market cap froze to ₹21,965,953,700.
Zilliqa kicked-off the trade in the crypto market on 25th January, 2018 with a starting price of ₹8.92. However, the Zilliqa price declined slowly by the end of January and reached ₹5.67 on 31st January, 2018.
Zilliqa is a blockchain enabled protocol that is basically designed for developers of DApps. This next generation high throughput blockchain platform is built to scalethousands of transactions per second using the sharding feature.
Zilliqa claims to reach transaction speeds in thousands per second. It will continue to get faster as the network grows. As compared to Ethereum’s current network size, Zilliqa declares that it will be able to scale about a thousand times faster.
There are two main entities of Zilliqa network, miners and users.
Miners – These are the nodes in the network that run the consensus protocol of Zilliqa. They get rewarded with ZIL tokens for providing service.
Users – These are external entities that use the infrastructure of Zilliqa for transfering funds and running smart contracts. Users need to pay ZIL tokens for running smart contracts or transaction processing.