ZIL
Different Project
The project started in 2017. It was founded by a research team from the National University of Singapore. The team later founded a company called Zilliqa Research to lead the development of the ZIL project. @Zilliqa
Zilliqa is a coin created for the blockchain that was created to enable and scale decentralized applications from financial services to NFT markets. It uses a technology called sharding to maximize the number of transactions. ZIL uses a unique idea mechanism that is a mixture of Practical Byzantine Fault Tolerance and Proof of Work (PoW and pBFT). It also released Scilla, a native programming language that focuses on security and allows developers to write, replicate and launch dapps. Thanks to this process, the transaction speed is 1000 times faster than the Ethereum network.
The Zilliqa blockchain has its own programming language. This programming language, called Scilla, which is the English Smart Contract Intermediate-Level Language, aims to eliminate language-level vulnerabilities by prioritizing security.
âZilliqa aims to be a competitor to traditional centralized payment methods such as VISA and MasterCard.â
What Makes Zilliqa Unique?
Zilliqa claims to be the worldâs first public blockchain based on a completely fragmented network.
The platformâs governance token, ZIL, is used as a fee for transactions performed on the blockchain, to run smart contracts, to incentivize network participants and to have a say in governance.
Users who stake a certain amount of ZIL have the right to vote on proposals related to the network, and the number of voting rights they get varies depending on the amount of cryptocurrency they stake.
