Zilliqa (ZIL) is a high-throughput blockchain platform that aims to provide fast and scalable solutions for decentralized applications (DApps) and enterprise use cases.
Zilliqa was developed by a team of researchers from the National University of Singapore and was launched in 2017.
Zilliqa is one of the first blockchain platforms to implement sharding, a scalability solution that divides the network into smaller groups called shards. Sharding allows multiple transactions to be processed in parallel, significantly increasing the network’s transaction throughput.
Proof-of-Work (PoW) and Practical Byzantine Fault Tolerance (pBFT)
Zilliqa uses a hybrid consensus mechanism, combining PoW with pBFT. PoW is used for establishing identities and allocating shards, while pBFT is used for consensus within individual shards.
Scilla Smart Contract Language
Zilliqa uses Scilla, its own secure and functional programming language, for writing smart contracts. Scilla is designed to reduce the potential for smart contract vulnerabilities and make it easier for developers to write secure code.
Moreover, Zilliqa supports the development and deployment of smart contracts and DApps on its blockchain, offering developers a platform to build decentralized applications with scalability and security.
ZIL Token
ZIL is the native cryptocurrency of the Zilliqa blockchain. It is used for paying transaction fees, participating in on-chain governance, and interacting with smart contracts on the platform.
