As of today, Zilliqa (ZIL) has been traded at a price of $ 0.02274413, with a market cap reaching $ 403.1M. In the last 24 hours, the value has decreased by -3.44%.
Zilliqa (ZIL) is a cryptocurrency token that was developed in 2017. Unique to Zilliqa is its emphasis on sharding, which allows for improved scalability of cryptocurrency networks. Its goal is to mitigate the key issues found in legacy blockchain platforms - network congestion, high transaction fees, and security concerns. As such, it seeks to enable its users to concentrate on ideation instead of logistical issues.
Zilliqa operates via the concept of Sharding. In this process, transactions are divided into smaller groups, which are then distributed amongst miners for parallel transactional verification. This speeds up Consensus times and allows a larger number of transactions to be processed within a given timeframe. The capacity of the network in Zilliqa increases at a higher variable rate compared to the number of members joining the network. This increased capacity is a result of incorporating the Sharding Technology, which can potentially revolutionize the functionality of smart contracts.
Zilliqa claims its uniqueness lies in its pioneering usage of sharding technology. In comparison to other cryptocurrency platforms, Zilliqa’s use of sharding places it ahead in the market. Sharding allows for scalability, making Zilliqa a third-generation platform that could possibly win big in the future of cryptocurrency. Besides that, Zilliqa has a strong supporting community. The Zilliqa ICO only took place due to high demand, demonstrating the readiness of the crypto community for the next phase of blockchain technology.
There are approximately 17.7B Zilliqa tokens in circulation at this point. The total supply of tokens is capped at 18.8B.
Zilliqa (ZIL) is currently available for purchase on BitMax, Binance, Tokenize, Binance US, amongst others. It's crucial to note that purchasing cryptocurrencies involves risk, as prices can fluctuate widely within short periods of time.
Zilliqa positions itself as a next-generation blockchain with a promise for increased speed and security brought by its sharding technology. It has a strong and supportive community, which increases its reliability in the market.
However, as with every technology, there can be potential drawbacks. The future realization of Zilliqa's vision depends on the successful application of sharding technology. Furthermore, although sharding is said to increase speed, it's still unproven whether it will be able to maintain security and decentralization simultaneously. Consequently, there's always a level of risk associated, as is the case with all other cryptos.
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