Zilliqa coin is a crypto asset that is said to have more advanced technology than its predecessors. Basically, Ziliga is software that seeks to incentivize a globally distributed computer network to run a blockchain platform with the aim of increasing user scalability through sharding.
In this way, the crypto asset becomes one of several competing blockchains, with the aim of growing an ecosystem of decentralized applications (dApps) and crypto asset, such as Ethereum, Tron, and EOS. Furthermore, to differentiate itself from the rest, Zilliqa is also using a sharding process—this will split its infrastructure into a number of interconnected blockchains in order to support more transactions.
In addition, this currency also launched an original programming language called Scilla. Scilla focuses on security and allows developers to write and launch customizable dApps, with the intent to replicate real-world services. On the other hand, the network’s native crypto asset, ZIL, is used to run programs, send transactions, and incentivize actors who support the network, all of which are done to achieve all of those features.
What Is Zilliqa Coin?
The first concept of Zilliqa came from an Assistant Professor at the National University of Singapore School of Computing named Prateek Saxena. Assisted by a number of students at the School of Computing, Saxena published a paper in 2016 outlining how blockchains that focus on sharding can improve network efficiency and speed.
In short, Zilliqa was launched in June 2017 by two researchers from the National University of Singapore, namely Co-Founders Amrit Kumar and Dong Xinshu. In January 2019, the mainnet of this network went live. The Initial Coin Offering (ICO) of the ZIL token was held in 2017. This latest project has raised over $22 million in ETH.
According to the White Paper, Zilliqa’s transaction speed will be about a thousand times faster than the Ethereum network. With Zilliqa, you can focus on developing ideas without worrying about network congestion, high transaction fees, or security which were the main issues with legacy blockchain platforms. On the other hand, the network uses the Sharding concept. Here, transactions are grouped into smaller groups and shared among the miners for verification of parallel transactions.
The advantage of Zilliqa is that it has great new technology. Zilliqa is the first platform to use sharding technology. That puts Zilliqa ahead of other markets. Zilliqa is a completely new type of blockchain designed to solve scalability problems.
How Zilliqa Coin Works?
For your information, the Zilliqa network itself offers many features common to other crypto asset networks, such as smart contracts, transaction settlement, and token issuance. Here, developers can use their own language, Scilla, to run smart contracts (custom programming logic) and decentralized applications (design new programs) to offer a number of products and services.
Although the system is complex to implement, Zilliqa is ultimately designed to execute smart contracts and confirm network transactions in a scalable and efficient way. Sharding is a structural technique that divides the network into parts (or shards) that allow nodes to only process a small part of network transactions.
Later, each shard acts as its own blockchain and allows the nodes assigned to it to store data, process transactions, and add new blocks to their custom chain of shards or micro blocks. Then, these micro blocks are combined into transaction blocks by Directory Service Nodes (or DS nodes) to be added to the Zilliqa blockchain. Shard nodes themselves contain a specific subset of the Zilliqa blockchain and do not necessarily store the entire Zilliqa history.
Zilliqa’s uniqueness, in particular, is that this crypto asset claims to be the world’s first public blockchain that is completely dependent on network sharding. This allows Zilliqa to achieve high throughput and high transaction rates per second, which is said to have solved the scalability problem. As each shard processes transactions individually, as the network grows and the number of shards increases, it also increases the number of transactions that can be processed per second.
In addition, records are added to the Zilliqa blockchain immediately after processing, which means that no additional time is required for confirmation. On the other hand, this coin is also trying to become the blockchain of choice for large-scale enterprise use, including the advertising, gaming, entertainment, and financial services and payments industries.
Buy Zilliqa on Indodax
To buy Zilliqa Coin on Indodax, you can monitor the price first on the Indodax market at this link. How to buy Zilliqa is as follows:
- For those of you who have not registered as a member of Indodax, you can click here
- After that, make a deposit. For those of you who are confused about how to deposit, click here
- After your deposit and balance filled, you can go back to market
- Look for Zilliqa in the Rupiah market then click
- After entering, all you have to do is buy by filling in the balance and at what price you want to buy Zilliqa. You can also buy it instantly or directly at the current price
- After that, you need to patiently wait for the price to increase for some time
- After the price increases, you can sell it at a higher price with the instant method
- If you sell with the limit method, you can place orders after buying. Make sure you enter a higher number when selling.