Zilliqa: Blockchains Savior
As of September 2020 scalability still remains blockchains greatest hurdle. Ethereum at the moment is experiencing massive network congestion with gas reaching in the hundreds of GWEI becoming the new normal, and longer transaction times slowly creeping into the network. The transaction times, the ridiculous gas fees are putting a hamper on the market and is currently exposing the weakness and current limitations of blockchain. If we are experiencing problems now, one must wonder if mass adaption is further along the road then we believe. However, the future is here and has been in development since 2019. Zilliqa is a next-generation High through-put blockchain with scalable sharding technology while remaining low cost and highly secure. Zilliqa is a high-throughput blockchain meaning it can process many network transactions per second. The Zilliqa team states in its current state the Zilliqa blockchain can handle 4,500-6,000 transactions per second. This is absolutely amazing, as Ethereum at the time of this writing is hovering at 11.9 transactions per second, and VISA credit card network can handle 24,000 transactions per second. Furthermore, it seems that Zilliqa is near-term future proof as even with Ethereums ZK Rollup implementation coming ETHs transaction speeds will be boosted to between 1,000-2,000 transactions a second, a much needed boost but not enough to come to even half of Zilliqa current low-end capability. Furthermore, Zilliqa's team stated as the network grows and more nodes come online the speed and scalability capabilities will only grow. This gives blockchain a very bright future knowing that technology already exists that can save blockchain from its current dilemma.
Zilliqa: The Wild West of Crypto
As great as this sounds Zilliqa has not dominated the market as it should and, to be frank, is still relatively unknown. The question is why? The answer, Ecosystem & Infrastructure. For analogy's sake, Ethereum ecosystem is the rustle & bustle New York of the mid-1800s while Zilliqa is the sparsely explored west. To continue the analogy Zilliqa, like the early west, has few roads that allow easy access across the ecosystem, it has no train tracks to allow fast and cheap movement of assets and resources, no business to provide service or utility, and no major population hubs. The point being that Zilliqa has very little actual development on its blockchain; a few Dapps, a couple of services, no DeFi services, and only a handful of games. Yet, just like the early boom in the west Zilliqa is in for a major surprise. Taking early initiatives in 2019 to create the ZILHive project, the Zilliqa team has set aside millions of dollars to fund and focus on ecosystem development that has the potential to be industry disruptive. From Exchanges that allow you to purchase private company stocks baked by tokens such as SpaceX, revolutionary OpFi services, and simple and easy to use .crypto and .zil domains. Stay Tuned as we explore the Zilliqa blockchain and see the waking of a potential Sleeping Giant.
Check out the team in the meantime. Setup a browser ZilPay extension and jump into their existing Dapps:
https://dapp.review/explore/zilliqa
