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What is Zilliqa Coin (ZIL) and how does it work?

by Financial Economy

Zilliqa (ZIL) coin is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It aims to solve the problem of blockchain scalability and speed by using sharding as the second layer scaling solution. Detailed information about what is Zilliqa coin ZIL and how does it work, where to buy it, Zillqa reviews, etc. You can browse here for information about Waves coin.

What is Zilliqa Coin (ZIL) and how does it work?

Thanks to the Sharding (horizontal division of the database) system and innovative protocol used in the Zilliqa infrastructure, transaction speeds increase as the network expands. To put it more clearly, transaction speeds increase as the number of miners on the network increases. Developed specifically for decentralized applications created with secure data, Zilliqa also has an infrastructure that enables scaling of financial algorithms with machine learning.

Zilliqa is an extremely convenient Blockchain platform for running decentralized applications that require transaction speed beyond other Blockchain projects today. High-volume auctions, a transparent advertising supply chain, and a payment network with a speed ahead of the market are among Zilliqa’s future implementation plans.

So what does Zilliqa promise to these decentralized apps and miners? Apart from the scaling feature that allows thousands of transactions per second, Zilliqa promises:

  • Regular lump sum payments to miners with little volatility
  • Discount on participation costs for Ethash compatible miners
  • Using the PoW algorithm at only one point, resulting in more efficient energy use
  • Measurable security for decentralized application users with different budgets to make an accurate calculation
  • Secure and data-friendly smart contracts

Zilliqa coin (ZIL), which started trading in 2018, has a value of around $ 0.094 as of today (19.06.2021). As of this date, the total supply of ZIL is around 21.00K. ZIL can be purchased from trusted and well-known cryptocurrency exchanges.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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