Developments

The upcoming Zilliqa Mainnet Launch

DLT Mainnet Zilliqa will launch with some great features

The timeline for the release of this DLT network is on the way and is planned for a launch on January the 31st. According to information coming from Zilliqa, there will be an update to its projects.

The project has been up and running for more than one and a half years now and the team has been focused on creating not just a secure but also a scalable Distributed Ledger Technology network platform.

There are currently a few challenges that the company is facing regarding the launch of the platform among which is requiring that the protocol be well designed and capable of refinement when needed. However, the protection feature of the protocol is looking exciting in order to safeguard this promising network.

Value in the Network

The Zilliqa team has made it clear that its objective is to develop a platform that will bring in real value to the end users, while pushing the DLT model adoption. The team has been engaging in the creation of the network that will drive decentralised products and applications in the emerging ecosystem.

Zilliqa has been putting the utmost importance to the security of the network. As this has proven to be imperative for decision-making.

The network needs enough attention to offer the platform robust and scalable applications and become more viable in the growing DLT ecosystem.

This upcoming mainnet will be coming with novel features, including helping the network with transaction sharding for smart contracts. This also includes normal payment transactions, which makes the Zilliqa network one of the few PBT-style DLT currently available.

According to reports on Zilliqa’s blog, it will be implementing the possibility of a dual mining algorithm which is powered by Ethash PoW Blockchain like Ethereum.

This is because of the PBFT and PoW usage as the PBFT is used to achieve consensus. The later is used for Sybil resistance.

According to the team:

“Since the PoW period on Zilliqa will last for roughly 1 min every 2-3 hours, we believe that the energy footprint of mining on Zilliqa will be much smaller compared to the Blockchain that use PoW to reach consensus on every block.”


Because the protocol will be adopting an incentive mechanism in order to reward miners with the help of calculating contributions in the consensus protocol. There will be low variance since there might be thousands of miners that will receive rewards for one block.

The company has expressed confidence in the network and that it can process transactions just like Ethereum and Bitcoin even though the DLT network requires maintaining at international states.

The price of this crypto asset has been rising over time, as the latest developments appear to be a catalyst for the Zilliqa price. The Zilliqa price (ZIL) currently stands at around $0.0229 and has a marketcap of $216.99 million.

What are your thoughts on these developments? Feel free to leave your comments down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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