How does Zilliqa work?

Zilliqa utilizes sharding technology to process transactions in parallel, enhancing its transaction throughput and efficiency.

What are the key features of Zilliqa?

Zilliqa is an open-source platform that supports smart contracts, is categorized as mineable, and features the Scilla programming language for secure contract development.

What are the risks associated with Zilliqa?

Digital asset prices can be volatile. Users should verify contract addresses and networks before transferring assets and understand the risks of self-custody.

How can I verify Zilliqa before acquiring it?

Verify the asset name, network, and contract details before transferring. Ensure you understand the custody method and the irreversibility of transfers.

Where can I find official resources for Zilliqa?

Official resources for Zilliqa can be found on their website at https://www.zilliqa.com/ and in their whitepaper at https://docs.zilliqa.com/whitepaper.pdf.

Zilliqa (ZIL)

Rank #343

Market snapshot

Price: $0.00240517
Market cap: $48.4M
24h volume: $2.7M
Circulating supply: 20,110,031,159.5093
Total supply: 20,551,986,585.2193
Max supply: 21,000,000,000

What is Zilliqa?

Zilliqa is a blockchain platform that aims to provide a scalable and secure environment for the development of decentralized applications (dApps) and smart contracts. It utilizes sharding technology to improve transaction throughput, allowing it to handle a larger number of transactions compared to traditional blockchains. Zilliqa's native token, ZIL, is used for transaction fees and to interact with various dApps on the network.

How Zilliqa works

Zilliqa operates using a unique sharding mechanism that divides the network into smaller segments, or shards, each capable of processing transactions independently. This allows for parallel processing of transactions, significantly increasing the overall throughput of the network. Users can generate ZIL through mining, and the platform supports staking, enabling node operators to earn rewards for securing the network. The Zilliqa upgrade has introduced enhanced infrastructure, making it suitable for institutional use.

Key information

Symbol: ZIL
CMC rank: #343
Network / platforms: Zilliqa, BNB Smart Chain (BEP20), Ethereum
Categories: Mineable
Date added: Jan 25, 2018

Contract address

Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.

Zilliqa
0x05f4a42e251f2d52b8ed15e9fedaacfcef1fad27

Token contracts on other networks

BNB Smart Chain (BEP20)
0xb86abcb37c3a4b64f74f59301aff131a1becc787
Ethereum
0x05f4a42e251f2d52b8ed15e9fedaacfcef1fad27

Key characteristics

Zilliqa is an open-source platform that supports smart contracts and decentralized applications. It is categorized as mineable and utilizes a sharding mechanism to enhance scalability. The platform is integrated with the Ethereum and BNB Smart Chain ecosystems, allowing for interoperability with various dApps and services. Additionally, Zilliqa features the Scilla programming language, designed for secure smart contract development.

Documented uses

Zilliqa's native token, ZIL, is utilized for paying transaction fees and accessing services within the Zilliqa network. The platform also supports various decentralized applications across different sectors, including finance, gaming, and the metaverse, leveraging its high throughput capabilities.

Official resources

Risks

Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.

Transfer and custody notes

Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.

FAQ

What is Zilliqa (ZIL)?: Zilliqa (ZIL) is a blockchain platform designed for high throughput and scalability, supporting smart contracts and decentralized applications.
How does Zilliqa work?: Zilliqa utilizes sharding technology to process transactions in parallel, enhancing its transaction throughput and efficiency.
What are the key features of Zilliqa?: Zilliqa is an open-source platform that supports smart contracts, is categorized as mineable, and features the Scilla programming language for secure contract development.
What are the risks associated with Zilliqa?: Digital asset prices can be volatile. Users should verify contract addresses and networks before transferring assets and understand the risks of self-custody.
How can I verify Zilliqa before acquiring it?: Verify the asset name, network, and contract details before transferring. Ensure you understand the custody method and the irreversibility of transfers.
Where can I find official resources for Zilliqa?: Official resources for Zilliqa can be found on their website at https://www.zilliqa.com/ and in their whitepaper at https://docs.zilliqa.com/whitepaper.pdf.

Related cryptocurrencies

View all cryptocurrencies