Zilliqa is a new public blockchain platform which has the objective of supporting high throughput, with high security, in decentralized applications.
Zilliqa is one of the first blockchain company’s to implement the sharding technique on their system. Through sharding, and other techniques, they are developing a high throughput network that can handle more transactions per second. Another quality of the network is that it’s throughput can be improved linearly as the network grows.
Normally, the throughput of blockchain networks has an inverse relation with their growth. Zilliqa is unique in this way, and at the same time, it ensures complete decentralization and ensures the security of the network for its users.
Of course there are still industry-wide technological problems that need to be solved before mainstream applications can properly be deployed on the blockchain. These issues include scalability, security, privacy, and interoperability.
So there is a need for patience while these technological challenges are resolved, and at the same time businesses need to learn more about blockchain, and learn to see it as an opportunity rather than a threat.
The Zilliqa network has already completed its token sale, and they raised their goal of $22 million USD. The token sale ended in January, even before it reached their crowd sale stage due to an Ether spike early this year.
The token sale was not available to citizens of US, Japan and China. This wasn’t desirable and was due to the regulatory restrictions present in these countries. Despite this Zilliqa did not have a problem raising the money they needed as the blockchain community understands the scalability problems, and Zilliqa is offering a solid solution to these problems.
Going forward, regulators are trying to decide what to do, and many projects are now taking account of compliance, which hasn’t always been the case.
Zilliqa has a strong social media presence, with over 25,000 users in their Telegram group. One of the main hurdles that Zilliqa has to overcome is that the users have to love Zilliqa and its platform. The project has been successful in achieving this feat in just a matter of a few months and has attracted a group of loyal followers.
They will be launching their test net in the coming months, and are eager to test with the help of users and developers from their community. In order to gather more followers, miners, and developers to support their project, the Zilliqa team is visiting different countries, participating in different events, and meeting technical teams to spread awareness about their project.
To learn more about Zilliqa, go ahead and watch the podcast, where we talk about Zilliqa in detail with the CEO of the project, Xinshu Dong. He goes through every aspect of the project, their bounty approach, and talks about the future direction, and how he plans to achieve greater public adoption.
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Source: Crypto Potato