Singaporean company building a high speed blockchain
Headline
Blockchain for high speed transactions
Advantages
Strong investors (FBG)
Strong value proposition of 1000x faster transaction speeds than existing blockchains
Strong use case of running large-scale computations that can be easily parallelised
Strong development -> Developed for over 2 years
Strong future plan -> secured proof of stake
What is it?
A new blockchain that is designed to scale in transaction rates
Why is it Important?
Existing blockchains have low TPS rates
Average transaction rates in Bitcoin, Ethereum and related cryptocurrencies have been limited to below 10 transactions per second.
As the number of applications utilising public cryptocurrencies and smart contract platforms grow, the demand for processing high transaction rates in the order of hundreds of TX/s is increasing.
A global payment network would likely require tens of thousands of Tx/s in capacity
Core technology
Sharding
Dividing the mining network into smaller shards each capable of processing transactions in parallel
As the number of miners in Zilliqa increases, its transaction rates are expected to increase as well
Zilliqa’s design allows its transaction rates to roughly double with every few hundred nodes added to its network
Ethereum has 30,000 nodes. At Ethereum’s present capacity, Zilliqa would process ~1000x the transaction rates of Ethereum
Smart contract language
Follows a data flow programming style which makes it ideal for running large-scale computations that can be easily parallelised. E.g. Search, sort, training neural nets, data mining, financial modelling, scientific computing and MapReduce
Valuation
Low circulating market cap: ~$20m
Potential circulating market cap: $1bn+
Summary
This is a high quality blockchain project
The circulating valuation $20m
Zilliqa has the potential to become a $1bn+ circulating supply blockchain in the next 3-6 months
