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Information about Zilliqa (ZIL)
Zilliqa is a public blockchain network created to overcome the current centralized payment transaction systems’ scalability and transaction processing speed. Zilliqa focuses on network decentralization, overcoming the scaling problem of blockchain by using sharding as a second-layer scaling solution. In addition, Zilliqa can process thousands of transactions per second and compete with the transaction times of centralized payment transaction systems.
Zilliqa was launched in March 2018 and was developed by a team of software engineers and experienced experts in computer science.
The Zilliqa token (ZIL) is a utility token belonging to the Zilliqa network and is used for the following purposes:
News
Simplifying Zilliqa onboarding: PlunderSwap, a leading DEX on Zilliqa, collaborates with StealthEX to simplify the onboarding experience into the Zilliqa ecosystem. This partnership aims to lower entry barriers for new traders by integrating StealthEX’s user-friendly interface, allowing users to trade various cryptocurrencies more easily.
Innovation in defi trading: The partnership introduces cross-chain swap capabilities, enabling seamless crypto exchanges. By leveraging Zilliqa’s EVM capabilities, PlunderSwap enhances transaction speed and efficiency. With over 1,500 cryptocurrencies supported, the collaboration represents a MAJOR advancement in innovative decentralized trading solutions.
Zilliqa unveils aventurine: Zilliqa’s Aventurine proto-mainnet marks a significant milestone in the blockchain’s evolution towards Zilliqa 2.0. This release enables enhanced dApp support, with existing applications like PlunderSwap and Safe multi-signature wallet on board. It also aims to integrate future applications post-launch.
Enhanced interoperability & staking: Aventurine introduces a test environment for EVM-compatible fungible tokens, facilitating their future operation on the Binance Smart Chain. New staking contracts promote decentralized participation, offering validators and users liquid staking opportunities, poised for the Agate release later in 2024.
Zilliqa’s early disruption: Zilliqa detected significant technical issues at 1:00 AM UTC+8, affecting block production. This led them to advise a temporary pause on all deposits and withdrawals. Initiating a quick network restart at 5:53 AM UTC+8 proved unsuccessful.
Assurance and future prevention: Despite disruptions, funds on Zilliqa remain secure. The team is actively reinitializing the network and promises regular updates. They highlighted that future network releases will include measures to prevent similar technical challenges.
Zilliqa has recently unveiled its white paper and roadmap for the much-anticipated 2.0 upgrade, set to launch on the mainnet in late 2024.
This upgrade is poised to enhance the blockchain’s functionality by increasing its speed, efficiency, and interoperability with other blockchain systems.
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