Price of Zilliqa (ZIL) today
As of the latest data, Zilliqa (ZIL) is currently priced at $0.0249 with a market capitalization of $422.55M. The 24-hour trading volume stands at $32.77M, The circulating supply of Zilliqa is approximately 17.37B. The cryptocurrency has seen a 2.31% increase in value over the past 24 hours.
About Zilliqa (ZIL)
Zilliqa is a high-security, scalable, and high-performance public blockchain platform designed for decentralized applications. It was the first public blockchain to implement sharding technology on its mainnet, aiming to resolve scalability issues. The platform is fueled by a native utility token called ZIL, used for processing transactions and running smart contracts. ZIL is available for trading on major exchange platforms like Kraken, Bitfinex, Binance, and Huobi. The total supply of ZIL is 21 billion, with an initial coin offering (ICO) that raised $22 million in a private funding round.
The team behind Zilliqa consists mainly of computer specialists with an academic background, originating as an R&D project by enthusiasts from the National University of Singapore. The platform launched its mainnet in January 2018, claiming to be 1,000 times faster than Ethereum. Zilliqa uses a hybrid Proof-of-Work (PoW) consensus protocol for mining, combining PoW, Practical Byzantine Fault Tolerance (PBFT), and an Elliptic Curve Based Schnorr Signature Algorithm. The platform introduced Scilla, its own programming language for smart contracts, to address security issues and vulnerabilities present in Ethereum's Solidity language.
Sharding technology, implemented by Zilliqa, involves splitting the blockchain into parts or shards to distribute the load across multiple servers. This approach allows for faster transaction verification and reduced network fees by confirming transactions with a limited number of participants in each shard. Zilliqa's innovative solutions have positioned it as a key player in the blockchain industry, offering a secure and scalable platform for decentralized applications.
How does Zilliqa work?
Zilliqa (ZIL) is a decentralized blockchain platform that enables peer-to-peer transactions through its innovative sharding technology. Unlike traditional financial systems, Zilliqa utilizes a network of nodes to validate transactions and achieve consensus, ensuring security and efficiency. Its underlying blockchain technology allows for high throughput and scalability, making it ideal for applications requiring fast and secure transactions. Zilliqa's unique feature lies in its sharding mechanism, which divides the network into smaller groups to process transactions in parallel, increasing the overall network capacity. This enables Zilliqa to handle a large number of transactions simultaneously, making it suitable for various use cases such as decentralized finance, gaming, and digital asset trading. Overall, Zilliqa stands out for its ability to provide a decentralized and efficient platform for a wide range of industries, offering a new way to conduct transactions securely and quickly.
How to keep your Zilliqa (ZIL) safe?
To keep your Zilliqa (ZIL) safe, consider using hardware wallets such as Ledger for enhanced security. These wallets provide an extra layer of protection by storing your private keys offline. Additionally, trusted platforms like EarnPark, YouHodler, and OKX offer secure storage options and advanced security features to safeguard your ZIL holdings. By utilizing these tools and platforms, you can better protect your assets from potential threats and ensure peace of mind when managing your ZIL investments.
