Due to a wide variety of projects in the cryptocurrency industry, it is difficult for an ordinary investor to separate really worth coins from pacifiers. Today we will analyze a little-known and relatively new project Zilliqa, its problems that developers are trying to solve, and also consider the prospects of this cryptocurrency.

Contents: (please, click the topic to scroll down to it)

1. What is Zilliqa cryptocurrency?

The main idea of ​​ Zilliqa project is the development of a decentralized platform that would not have a ceiling in scaling, and could also improve on its own. Now let's talk about all this in more detail.

In order for the network to have high bandwidth, the developers decided to use the technology "sharding". It involves splitting the data into many small "pieces". That is, the

blockchain

itself is divided into a number of parts. There are groups of nodes responsible for the correctness of the work of each part; each of them processes only its own part of the data. Such an approach allows easily performing more than one thousand operations per second (in theory, the ceiling is practically absent).

If the amount of data (consequently, transactions) grows, the network algorithm will break it into an additional number of parts. Everything is designed in such a way that the network is self-adjusting to the load.

Also, Zilliqa platform may compete with Ethereum in the future, since it is possible to create smart contracts and own blockchain projects on its basis. Applications that will be launched on the Zilliqa platform by default will work by the method of sharding and have high bandwidth.

2. Zilliqa in figures

The fuel of the platform is ZIL tokens, the total emission of which is 21 billion. The developers immediately released 60%, and the remaining will be allocated for the miners. By the way, the algorithm of the coin has a gradual increase in the complexity of the network. Developers want to stretch the process of extracting tokens for about 10 years.

A few dry numbers:

The ZIL/USD rate is $0.055;

The coin's capitalization is almost $418 million;

The project takes 28th place in the global rating of CoinMarketCap.

3. Advantages and disadvantages of Zilliqa

This project has a sufficient number of strengths:

Strong development team . The project is staffed by very well-known people in the industry: Christel Quek (a professional in the field of digital economy), Yaoqi Gia (leading expert in cryptography and digital security), Xinshu Dong (the main developer of the project, and one of the top specialists in blockchain technology ).

The presence of major partners. The market value of any asset is determined, first of all, by the demand of consumers. In the Zilliqa project large sums of money are invested by many large companies and venture funds, for example FBG Capital, Kenetic Capital, Signum Capital, IKX, Linklaters, etc.

Technology required by the market. The problem of small bandwidth is quite relevant for the industry. In the testing mode, the developers managed to achieve a rate of 2488 operations per second (for comparison, it is 355 times faster than Bitcoin). This value was fixed when there were only 3,600 nodes in the network. If their number is increased, then the capacity will increase in direct proportion.

Modified smart contracts. On the basis of Zilliqa, you can simultaneously create a lot of smart contracts and view them in parallel. This function will allow you to work much more efficiently with the platform.

But, nevertheless, some market experts consider the project not very attractive, due to the great competition in this segment of the market. Skeptics claim that the developers of Zilliqa are already late; they believe that if the project had been launched in 2016, it would have been with overwhelming probability of waiting for a stunning success. But in 2018, there are already too many potentially promising projects in the smart contract segment, so it will be much more difficult to get through in such conditions.

4. Prospects for 2018-2019

In the cryptocurrency industry it is always difficult to say for sure about any forecasts. If you look at the graph of the coin's exchange rate, you can see that now it sank almost 4 times, compared to the maximum that was fixed on May 10, 2018, at 20 cents (now 5.5 cents).

But it should be remembered that the total capitalization of the market during this time sank by almost 200 billion dollars (from 450 billion to 250 billion dollars).

Zilliqa project has good chances to take its place in the market, but this will need time, as well as favorable conditions (weakness of the competitors, the general growth of the cryptocurrency market, etc.). Buying this coin, you must be set up for a long-term investment.

The next large-scale event, which should influence the further development of the network, is a full-scale launch of the network, which is scheduled for the third quarter of 2018. If it passes successfully, this will favorably affect the course of the ZIL tokens.

5. Conclusion

The Zilliqa project has a good technological support, as well as a professional development team. Using the "sharing" method, you can substantially relieve the network and achieve its painless scaling in the future. The further development of the project depends on many factors.