Zilliqa (ZIL) is a cryptocurrency platform designed to address the scalability issues of existing blockchains. It is a distributed ledger technology (DLT) that uses sharding to scale up transaction throughput. With Zilliqa, the more nodes that join the network, the faster the network can process transactions.
Zilliqa is the first public blockchain to use sharding, a process that splits the network into smaller groups known as “shards”. Each shard processes its own transactions in parallel, enabling the network to scale up its transaction throughput exponentially as more nodes join the network. This makes Zilliqa one of the most scalable blockchains in the industry.
Zilliqa also uses a consensus algorithm known as Practical Byzantine Fault Tolerance (PBFT), which makes it more secure than other blockchains. It also supports smart contracts, allowing developers to build decentralized applications on the network. Additionally, Zilliqa is powered by a native token called ZIL, which is used to pay for transaction fees, incentives for miners and node operators, and as a store of value.
Overall, Zilliqa has the potential to revolutionize the way blockchains are used by providing a secure, scalable, and affordable platform for developers to build decentralized applications and users to transact securely. If successful, it could play an important role in the future of blockchain technology.