If you go through the CoinMarketCap, you realize that there are about 4456 coins and tokens in existence. CoinMarketCap arranges the coins and tokens according to their marketcap and Bitcoins lead with a market cap of $985,226,590,994 14:00 hrs GMT +2. Looking at the whole list, one can see that some are good and have good growth potential while some are struggling to make it in the market or are just shitcoins. Amongst the good, slowly growing and attracting tokens is Zilliqa (ZIL).
Zilliqa is a public permission-less blockchain platform levaraging sharding as a second layer scaling solution to complete thousands of transactions per second in a cost effective manner. Due to its scalability, speed and cost effectiveness, Zilliqa has allowed developers to build and run their decentralized applications on the platform.
From their website, they wrote:
At Zilliqa, we leverage on our silicon-smooth, speedy and cost-effective blockchain platform to catalyse and transform digital infrastructure across all global communities and industries.
Zilliqa has a native token of the symbol ZIL. The token currently trades $0.153075 USD on Binance, a 12.16% decrease in the past 24 hours. Zilliqa has a circulating supply of 11,090,579,599 ZIL out of the maximum 21 billion ZIL coins. It also has a market cap of $1,703,523,142 which also fell by about 10% in the past 24 hours.
Why I say Zilliqa has great potential?
- Scalability: Due to its Sharding approach, the zilliqa blockchain platform is easier to scale to meet the growing demands of the ecosystem and the developers building decentralized applications. This gives it an advantage over other blockchain platforms which has an issue of scalability.
- Ecofriendly dual mining: Zilliqa operates on a Byzantine Fault Tolerance, or pBFT, consensus protocol, that ensures that at least two-thirds of all nodes must agree that a transaction is accurate in order for it to be added to the blockchain. Also, the proof of work mechanism is integrated to assign node identities and generate shards. Therefore, the mining difficulty of ZIL is greatly reduced such that a minute is sufficient to mine a ZIL out of every 2-3 hours.
- Short for Smart Contract Intermediate-Level Language (Scilla): Zilliqa has developed its own language using functional programming design principles which allows it to be more friendly towards static checks and formal verification.
I first came across ZIL this year towards the end of January. I bought 380 ZIL at a price of $0.046 on CEX.IO and have been staking them since then. The coin has since grown.
