For those unaware, cryptocurrencies were once only reserved for the tech-savvy in the community. Today, they are recognized as legitimate investment assets by investors all over the world. For this reason, a lot more speculators are entering the crypto space with the goal of earning returns on investments. This bevy of activity has pushed the prices of cryptocurrencies even higher.
In the period between March & April 2021, the industry recorded some of the highest cryptocurrency prices to date. Zilliqa Coin, a lesser-known altcoin, recorded immense growth when benchmarked against top cryptocurrencies such as Bitcoin and Ethereum. In Q1 2021, Zilliqa’s price grew by 116% while its market cap grew by 112%. In this article, we are going to take a closer look at what Zilliqa Coin is, its future, and how you can find the best price for a Zilliqa token exchange.
What is Zilliqa?
For those wondering, “What is Zilliqa cryptocurrency?”, Zilliqa is a Singapore-based third-generation blockchain project created by a team of renowned scientists and entrepreneurs. Its aim is to solve some of the problems that affected its predecessor blockchains such as Ethereum & Bitcoin. One of the major problems that Zilliqa tries to solve is the issue of scalability.
Scalability is the ability of a digital asset to deal with large amounts of transactions without slowing down. Companies such as MasterCard & Visa are capable of processing as many as 5000 transactions per second. The Zilliqa team hopes to solve the blockchain scalability problem of the blockchain with a system known as sharding. We’ll discuss everything you need to know about sharding in the next section.
Key Features of Zilliqa Coin
Compared to centralized data storage platforms such as Google or Visa, most blockchain networks remain safe given their decentralized nature. To hack a blockchain platform, you would need to control more than 50% of the nodes on it. To prevent this, the Zilliqa cryptocurrency comes packed with the following key features:
- Network Sharding: Network sharding is splitting blockchain nodes into different subgroups known as shards. Each shard processes and achieves consensus on a subset of transactions. This network sharding protocol leverages proof-of-work to prevent Sybil attacks and perform sharding.
- Secure & Efficient Consensus Mechanism: The Zilliqa platform uses a secure consensus algorithm that’s based on the idea of BFT (Byzantine Fault Tolerance). BFT ensures that the shards remain definitive and in sync, thus reducing the amount of time needed to make confirmations.
- Friendly Smart-Contract Language: Zilliqa introduces a new & friendly coding language known as Scilla with syntax similar to Solidity. Thereby, making it easy for programmers to develop custom smart contracts & design Zilliqa dApps.
- Profitable Mining: The Zilliqa network reduces the miner’s cost of processing a transaction while simultaneously reducing the transaction fee for every transaction. Since the number of transactions being processed per second will be significantly higher, competition will be less intense.
Future of Zilliqa
The market remains completely unpredictable and trying to figure out the future of Zilliqa is a bit tricky. However, if 2021 has taught us anything, it is that the future can be very rewarding. Many industry experts are of the opinion that Zilliqa has a bright future ahead given ongoing developments within ZIL’s ecosystem.
Some recent keynote Zilliqa partnerships include:
- Shopping.io (SPI): SPI has partnered with Zilliqa to allow Zilliqa holders to spend their tokens on popular eCommerce platforms such as Amazon, Walmart, eBay, etc.
- Foreign Exchange Clearing House (FXCH): FXCH hopes to provide SWAPs to traders who want to benefit from trading assets while boosting the liquidity of the ZIL.
Most experts remain bullish on ZIL’s future price citing that it may hit new heights. Although this is dependent on whether or not it goes mainstream or if investors decide it’s a good investment. TradingBeasts predicts that Ziliqa’s price might hit $0.29 by end of 2021 and $1.15 by end of 2022. WalletInvestor also remains optimistic on prices, citing that it’s possible for the price to hit the $0.29 mark.
Why is Swapzone the Best Place to Exchange ZIL?
The market is full of so many ZIL exchanges today. However, if you’re looking for the best place to purchase ZIL crypto, then Swapzone is the best solution for you. It offers a myriad of awesome cryptocurrency pairs such as Zilliqa/BTC just to mention a few. Additionally, it’s the best Zilliqa exchange in the market today.
Not to mention, Swapzone actually shows you results for the topmost cryptocurrency exchanges for you to choose. You can easily and quickly sort through the list using filters such as transaction time, price, and many other factors.
Here’s how you can exchange your Zilliqa on Swapzone:
- Open the Swapzone website.
- Head on to the select pair tab and choose the type of cryptocurrency and amount you wish to exchange.
- In the “Get Up To” section, select Zilliqa (ZIL).
- Once you enter all the correct details in the tabs, you should now see the exchange rate and the different offers displayed on Swapzone.
- At this point, you can sort out the different offers such as transaction time or price.
- Once you have gone through the offers and found one that you fancy, simply choose it and click on “exchange.”
- From here, enter your relevant wallet details and click on “Proceed to Exchange.” This will complete the transaction.
- At this point, just wait for the deposit to be processed and the exchange service to complete.
9. Once the transaction is complete, rate the exchange partner and leave an honest review. Viola! Your Zilliqa token exchange is complete.