Zilliqa is a blockchain project designed to create smart contracts and DApps. ZIL is the main utility token of the Zilliqa network based on the Ethereum blockchain.
What Is Zilliqa?
Zilliqa is a blockchain project designed to create smart contracts and DApps. ZIL is the main utility token of the Zilliqa network based on the Ethereum blockchain. The main feature of this token is focusing on the scalability of the chain using network sharding. Zilliqa’s network sharding divides all nodes into separate segments, each of them uses its protocol to create micro blocks, which are combined into a larger blockchain. The ecosystem is capable of establishing several thousand transactions per second.
Also, Zilliqa is committed to providing smart contracts to enable security-aware verification of smart contracts. The project’s mission is to create a scalable and functional network under blockchain principles.
Pros and Cons of Zilliqa
Like any currency, Zilliqa has its pros and cons. The most significant are considered below:
Advantages of Zilliqa crypto
The embodiment of work in the field of informational technologies, Zilliqa is positioned as a response to the fundamental shortcomings of Bitcoin and popular altcoins such as Ethereum. In particular, the high speed of processing a large number of transactions is achieved through sharding - the distribution of the blockchain network to separate nodes, each of that node provides its part of the transaction.
Zilliqa uses a hybrid consensus search engine: Proof of work and Practical Byzantine Fault Tolerance. PoW and pBFT technologies require proof of hardware operation, which protects the system from real and potential attacks.
The blockchain is divided into two layers - DS (a chain of blocks of a service that contains data about nodes) and TX (a chain of transaction blocks that stores relevant information). The reward is distributed among various network nodes. The blockchain supports smart contracts based on its proprietary programming language, Scilla. This fact allows troubleshooting and proactive prevention of potential break-ins.
Disadvantages of Zilliqa crypto
Network sharding protocols face some challenges. When a user creates something using Scilla, he risks not receiving the report from the developer, which is necessary to get the desired result.
Currently, it is impossible to implement Zilliqa mining because of the Proof-of-work algorithm used on the platform only to identify network nodes of the blockchain.
Despite a lot of public platforms available today, Zilliqa offers an innovative approach and is ready to create something new for those who are interested in developing DApps. Its unique protocol and sharding technology provide it with a scalability advantage that continues to be a problem for many blockchain-based platforms.