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What is Zilliqa? Understanding the Innovative Sharding Technology of ZIL Blockchain

What is Zilliqa

Zilliqa, since its inception in 2017, has made a significant mark in the blockchain world. Born from research at the National University of Singapore, Zilliqa aimed to create a scalable, efficient, and developer-friendly blockchain platform. It has become the foundation for over 250 projects, ranging from metaverse and DeFi to gaming applications.

Sharded Architecture: A Leap in Blockchain Scalability

Zilliqa holds the distinction of being the first public blockchain to implement a sharded architecture. Sharding is a process where the network is divided into smaller node groups, called shards, each capable of handling transactions concurrently. This structure allows for a linear increase in transaction throughput as the network expands, leading to faster processing times.

ZIL: The Eco-Friendly Mining Token

Miners can mine Zilliqa’s native token, ZIL, with reduced energy expenses due to its dual consensus mechanism: Practical Byzantine Fault Tolerance (pBFT) and Proof of Work (PoW). Jewel mining enables miners to switch from mining other tokens to ZIL, offering them substantial aggregate fees. This approach not only secures the network but also fosters an eco-friendly mining environment.

Low Transaction Fees and High Network Efficiency

One of the standout features of Zilliqa is its ability to maintain low transaction fees, thanks to its sharding process. Once a transaction is processed, it doesn’t require further confirmation, enhancing the network’s efficiency. This structure also supports micro-payments on the blockchain, a feature that’s often challenging in conventional blockchain setups.

Open Governance with ZIL Governance Token

Holders of the ZIL governance token, gZIL, actively propose and vote on changes to the blockchain, embodying Zilliqa’s commitment to open governance. Each gZIL represents one vote, allowing community members to submit Zilliqa Improvement Proposals (ZIPs) and vote on them via Snapshot, Zilliqa’s decision-making portal. This democratic approach ensures that the network evolves in line with the community’s needs and interests.

Scilla: The Game-Changer in Smart Contract Programming

Zilliqa introduced Scilla, a proprietary programming language designed to enhance the security and efficiency of developing decentralized applications (DApps) and services. Scilla, an acronym for Smart Contract Intermediate-Level Language, helps developers identify security vulnerabilities more easily, fostering a safer environment for DApp development. This innovation underpins Zilliqa’s commitment to improving DApp security network-wide.

ZilHive: Incubating Blockchain Innovation

To nurture its burgeoning ecosystem, Zilliqa established ZilHive, a division dedicated to supporting projects launched on its blockchain. ZilHive acts as an incubator, facilitating idea development through to business realization. With a global network of investors and partners, ZilHive offers tailored accelerator programs, equipping developers with necessary resources and guidance, thus promoting broader adoption of blockchain technology.

Zilliqa stands out as a pioneering blockchain platform, known for its innovative sharded architecture, eco-friendly mining approach, and developer-friendly ecosystem. Its contributions to blockchain scalability, governance, and security, coupled with its commitment to fostering innovation through ZilHive, position it as a key player in the evolving landscape of blockchain technology.

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