Zilliqa is a public and permissionless blockchain based on Sharding technology, which aims to provide high transaction speed. The use of sharding technology facilitates the transactions to be divided into small parts distributed among several miners carrying out parallel transactions.
ZIL is the native crypto of the Zilliqa platform, which can be used to purchase the services on the platform. The current market price of ZIL is $ 0.2057 after increasing 0.9% over 24 hours. It is currently ranked # 59 in the market in terms of market capitalization. Its trading volume has increased by more than 25% in one week.
Speaking of Zilliqa’s mobile, he seeks to empower innovators by removing the most important issues facing blockchain users and developers. First, it aimed to eliminate scalability issues. Its partitioning protocols allow thousands of transactions per second in combination with a unique consensus mechanism. Therefore, it can scale according to the size of the network by dividing the network into smaller groups.
Second, the platform is designed to avoid power consumption issues by integrating the PBFT consensus mechanism. Notably, power consumption is one of the critical issues facing many blockchains as the proof-of-work consensus mechanism requires intensive computing power.
Why choose Zilliqa?
· Security- Its structure helps it maintain security. The platform allows developers to build decentralized applications with confidence due to the fragmented structure of the blockchain. In particular, the network has never been hacked since its launch on the market.
· Reduced transaction fees Transactions on Zilliqa cost only a fraction compared to its competitors. The platform avoids all the congestion resulting in increased miner fees on other blockchains.
· Decentralized The Zilliqa network operated as a code and a cryptocurrency, and there is no central coordinator here. It offers users a decentralized alternative in the market.
While the price prediction for Zilliqa is quite optimistic for the years to come, we still can’t expect anything exceptional from the crypto. It all depends on the technological development of the platform. We can say that ZIL would prove to be a good investment option for long term traders.