Increasing the speed of transaction processing and bandwidth blockchain network is one of the most pressing problems in the world of cryptocurrency to date. Due to the fact that processing a transaction block (a large data structure) takes a long time, transactions can be confirmed from several hours to several days.
The Zilliqa project has been developing for more than two years and is aimed at addressing these issues. The study is carried out by a team of computer scientists from leading universities and research institutions in the world, such as Princeton, Berkeley, Inria and NUS; developers of secure software systems; scientists in the field of cybersecurity, entrepreneurs, bankers and leading experts in the field of cryptography.
The first trial launch of the platform proved that Zilliqa is much ahead of any of its competitors - the throughput was 1389 transactions per second.
Zilliqa is a new blockchain platform developed for safe scaling in an open, distributed network without permission.
A feature of the Zilliqa platform is that the network is divided into small network components that have the ability to process several transactions in parallel.
With a network size of 10000 nodes, Zilliqa can provide such bandwidth which corresponds to the average transaction speed of VISA and MasterCard while wherein offering much lower dues for traders.
The advantages of Zilliqa:
Another plus is that Zilliqa mining can be produced with much lower financial costs for electricity as well as with less negative impact on the environment. For example, in some countries, the cost of electricity for mining at Zilliqa is almost 10 times less than the cost of mining Ethereum.
Zilliqa has an internal token called Zillings (ZIL). With Zillings users can pay for transactions, process or launch smart-contracts.
At the moment there is a bounty campaign for those who want to get ZIL. These are 3 types of programs.
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