Zilliqa Research Hub | ZIL information, history and analysis
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:
- Reward miners to ensure the stability and security of the network.
- Pay transaction fees on the network.
- Complete a transaction when executing a smart contract.
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.
Zilliqa launches new Rust SDK for dApp development
Zilliqa has introduced a new Rust SDK, allowing developers to build DApps on the Zilliqa blockchain using the Rust language.
The SDK consists of built-in libraries that enable developers to interact with the Zilliqa API in their Rust applications, including transferring ZIL between addresses and interacting with complex contracts.
Zilliqa releases SDK for Unity to onboard developers to Metapolis metaverse
According to Zilliqa’s Head of Gaming Technology, Valentin Cobelea, an official tool for Unity developers to connect to Zilliqa’s metaverse has been launched in a move to onboard game developers into web3.
The goal is to develop a set of SDKs to lay the foundation for a wider gaming ecosystem with Zilliqa and to enable these projects to integrate within Metapolis, Zilliqa’s metaverse platform.
Zilliqa (ZIL) skyrockets another 60%
On March 26, ZIL suddenly spiked more than 100% within a single day, despite the relatively sluggish performance of the broader cryptocurrency market. Despite facing some selling pressure, ZIL managed to maintain the rally, adding another 71% within the following three days.
It is worth noting that the rally came after Metapolis, a soon-to-be-launched Metaverse project powered by Zilliqa, announced its tie-up with global talent awards app Agora.
Zil rises 75.58% after 24h
ZIL, the utility token belonging to the Zilliqa network, has increased by 75.58% with an explosive transaction volume of 391.57 million USD, an impressive number compared to the previous 10 days’ average of around 45 million USD.
With these achievements, ZIL has officially reached the milestone of 93.05% increase after only 1 week and 122.26% increase after 1 month.