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ZIL

Zilliqa (ZIL) Price Index

$ 0.028836 Ƀ 0.00000046
  • MarketCap
    $ 510,960,079
  • Volume
    $ 79,512,115
  • Change
    0.72%
zilliqaZilliqa
$ 0.028836
$ 0.028836
0.72%
0,026586
ZIL
Zilliqa (ZIL)
$ 0.028836
ZIL
Zilliqa (ZIL)
author
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
By Marcel Deer
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
on May 02, 2023 | 3 min
Updated on Dec 13, 2023

What Is Zilliqa (ZIL)?

Zilliqa (ZIL) is the native coin and cryptocurrency of the Zilliqa blockchain. Zilliqa was launched in 2017 by researchers from the National University of Singapore, including Amrit Kumar and Xinshu Don. The mainnet and coin went live in 2019 after a successful initial coin offering (ICO) in 2017 that raised the equivalent of $22 million.

 

The Zilliqa blockchain aims to answer the issue of scalability through sharding. It is a competitor to Ethereum, Tron, EOS, and Solana, offering the functionality for developers to build DApps.

What Makes Zilliqa (ZIL) Coin Unique?

Zilliqa is one of several blockchains that use sharding to scale faster and cope with more throughput. It’s purportedly the first and only network to rely entirely on sharding to answer the scalability problem. Sharding splits the blockchain’s infrastructure into several interconnected blockchains to support more transactions. Zilliqa’s developers hope the blockchain could rival conventional payment systems like VISA.

 

This novel blockchain has its own programming language, Scilla, for developers to write and build DApps. The ZIL coin is used to pay fees, enable programs, send transactions, and incentivize the Zilliqa ecosystem.

 

What Is Zilliqa Used for?

Zilliqa (ZIL) is a store of value and can be bought, sold, and traded on cryptocurrency exchanges. It’s also the coin that powers the Zilliqa blockchain and is used to execute smart contracts. ZIL holders who stake ZIL can vote on network upgrades and receive a reward for staking. Each vote is proportionate to the amount of ZIL staked.

 

How Does Zilliqa (ZIL) Work?

Zilliqa is a smart contract blockchain where developers can build DApps and launch new tokens. Its use of sharding splits the network into several “shards,” where nodes process transactions much faster than if they were grouped. Each shard acts like its own blockchain, and its nodes can store data, process transactions, and add blocks. These blocks are called microblocks; they are combined into Directory Service nodes (DS nodes) and added to the Zilliqa blockchain. Each shard node holds a subset of Zilliqa and doesn’t have to store the entire blockchain’s history.

 

How Is the Price of Zilliqa Determined?

The ZIL price is influenced by supply and demand and by the popularity of the Zilliqa blockchain. The supply of ZIL is capped at 21 billion coins, which adds scarcity.

 

The following factors can influence the ZIL price:

 

  • Supply, demand, and scarcity
  • Liquidity
  • ZIL market sentiment
  • Wider cryptocurrency market sentiment
  • Zilliqa blockchain performance and use by developers
  • Competitor smart contract blockchain performance

What Is the Zilliqa Coin Price Prediction for 2030?

Although cryptocurrency prices are notoriously difficult to predict, several Zilliqa (ZIL) price predictions exist for 2030.

Binance predicts that the ZIL price could reach $0.033528 by 2030, CoinMarketCap predicts $0.2741, and CoinCodex predicts $0.023487.

How Is the Zilliqa (ZIL) Network Secured?

Zilliqa uses a proof-of-stake (PoS) and Byzantine Fault Tolerant (BFT) consensus mechanism. This means that staking secures the blockchain, and participants earn rewards for contributing to the network and ecosystem. BFT has two layers of verification for extra security. Additional security also comes from Zilliqa’s use of elliptic-curve cryptography to secure transaction records. The blockchain uses a proof-of-work (PoW) algorithm to create shards and node identities but not for consensus.

Where Can You Buy Zilliqa?

Zilliqa (ZIL) can be bought, sold, and traded on major cryptocurrency exchanges, including Binance, KuCoin, Bithumb, and Bitfinex.

How Can You Store Zilliqa (ZIL)?

The least safe method of keeping Zilliqa (ZIL) is in exchange or hot wallets. The safest place for long-term crypto storage is a cold storage option, such as a Ledger hardware wallet. There are several dedicated ZIL wallets, including Zillet and ZillPay Wallet.

 

FAQs

 

Is Zilliqa (ZIL) legit?

Zilliqa is a reputable blockchain development that’s been around for some years and raised $22 million in its ICO in 2017.

 

Is Zilliqa coin worth buying?

Cryptocurrency investors will decide if Zilliqa (ZIL) is a good investment based on thorough research of the coin and the Zilliqa blockchain, its competitors, and the cryptocurrency market as a whole. As cryptocurrencies can be incredibly volatile and high-risk, investors must be vigilant of their risk tolerance and only invest what they can afford to lose.

 

Which country made Zilliqa coin?

Researchers from the National University of Singapore, including Prateek Saxena, Amrit Kumar, and Xinshu Don, created Zilliqa in 2017, and after a successful ICO, the mainnet and coin went live in 2019. Anquan Capital and Zilliqa Research hold significant ZIL reserves. In August 2023, Zilliqa announced a unified company structure under the Singapore-based Zilliqa Group.

 

Who owns ZIL coin?

Anquan Capital and Zilliqa Research hold significant ZIL reserves. National University of Singapore researchers, including Prateek Saxena, Amrit Kumar, and Xinshu Don, created Zilliqa in 2017. In August 2023, Zilliqa announced a unified company structure under the Singapore-based Zilliqa Group.

 

How old is Zilliqa?

Zilliqa research began in 2015, and the ICO and ERC-20 token launch occurred in 2017, with the Zilliqa mainnet going live in 2019.

 

Who are Zilliqa’s competitors?

Zilliqa is a smart contract blockchain that aims to answer the scalability issue and be available to developers and enterprises to build blockchain-based initiatives and DApps. As such, Zilliqa competes mainly with Ethereum, Tron, EOS, Solana, and Cardano.

author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
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