Executive Summary
For all intents and purposes, Zilliqa is a new blockchain, a high-throughput public platform that can process thousands of transactions, and at the same time, enable highly scalable computations such as data mining or neural net training. At the moment, no other platform can do this as well as Zilliqa does.
On Zilliqa, PoW will not be used for consensus, rather, it will be used to establish mining identities. As a result, it will be used less frequently, and by fewer miners on the block. Another unique feature on Zilliqa is: even when a block is signed by multiple miners, the size of signature remains small. This scalability is made possible because of sharding; instead of having a large network of nodes, Zilliqa’s network will be split into shards (parallel sub-committees). So, rather than 100 nodes, there will be 10 shards with 10 nodes each. Each shard will process its own micro-block in parallel with the others, and they all merge afterwards.
What Zilliqa’s revolutionary PoW system means for miners is: lower joining cost, lower energy consumption, DApp users with different budgets still have access to secure computation, and finally, dataflow-style smart contracts.
ZIL, Zilliqa’s token will be used in a gas system similar to Ethereum’s. Therefore, it basically functions as an incentivization system. Ethereum is Zilliqa’s closest competition, but the underlying sharding architecture sets the latter apart, and furthermore, because it is based on the superior dataflow programming, Zilliqa has a further advantage over Ethereum.
Zilliqa’s hard cap is set at around $22M, and there will be 21 billion tokens in total. Apart from the fact that the tokens reserved for the team members and the company (along with agencies related to it) will be vested, no further information on token distribution is available at this time.
Around $20M was already raised in a previous round. Zilliqa opened an additional round based on community interest for 4445 ETH. A maximum of 1000 ETH will go to active Slack and Telegram core supporters of the project while the rest is up for the broader community whereas the individual cap is expected to be around 2.5 ETH and 5 ETH. You have until Decemer 5th to register for the additional sale and go through KYC.
As at the time this post was published, Zilliqa has over 1450 Slack users, 2000+ Telegram users, over 1300 followers on Twitter, and 410+ subscribers on Medium.
According to the Howey’s Test conducted by Research Center analysts, it is unlikely that ZIL will be considered a security.
No team member with prior experience in token sale structure .
The team is experienced in token economics from their work at Anquan. Part of Anquan is its public blockchain, and as a result, the team is experienced in both public and private blockchains, and have a decent understanding of the token economics involved.
Disclaimers:
The analysis is produced by Research Center team members: Robin Davids, Mark Jedd, Eugene Tartakovsky.
We are constantly working on improving our work and welcome all constructive feedback. Let us know what you think.
Follow us to receive regular reports!
