Zilliqa (ZIL) is a new entity in the crypto market and in just eight months it is already posing a big threat to Ethereum. The system as stayed out of the media limelight but instead concentrated on developing its infrastructure and bridging existing gaps that the likes of Ethereum neglected.
The platform growth has been steady but the lead project team appears to forgotten the importance of marketing their product. The current growth being seen on the platform is a result of the robust infrastructure and the technology driving the network. The system performance to date has been the marketing tool for the tech savvy but for the casual investor the price value is what is driving hem to stake up.
What many Zilliqa adorers and adopters know is that the platform delivers unsurpassed throughput, well secured is currently the safest dApp hub and offers a good smart contract deployment environment. All these features might sound familiar with other platforms but here is why Zilliqa stands out.
Zilliqa is protected against Sybil Attacks
Zilliqa is very practical when it comes to securing their network. The platform deploys the practical Byzantine Fault Tolerance (pBFT) feature to strengthen the systems’ consensus governance. This is backed by proof of work that offers full protection against Sybil threats.
The pBFT technology has an edge over the bitcoin consensus protocol. It does not need block confirmation to terminate any initiated transaction. The process is sharded authenticated before reaching the block hence does not require any authentication. This process reduces network congestion to deliver fast transactions that keeps down the associated fees.
Zilliqa Offers Sharding Feature
Sharding technology is a first one for Zilliqa in the blockchain industry. This reduces the network weight to make transactions smooth and fast. Storage bottlenecks have been a huge headache for Ethereum and they are exploring ways to implement Sharding as well. The problem has reduced Ethereum transactions steeds and driven their costs up.
Sharding breaks down huge chunks of nodes which in return yields improved throughput. At the time of going to press, the Zilliqa websites performance bar was indicating 2,837 TPS. However the stress testing is still ongoing and the exact TPS is yet to be ascertained. The project team has assured the community that the speeds will be attained before migrating from Ethereum to their autonomous network end of January, 2019.
Reducing Dependence of Proof-of-Work on Zilliqa
The Zilliqa network does not rely on Proof-of-Work in their bid to keep Sybil attacks at bay. PoW sessions are spread between several hundred blocks in order to benefit from PoW protection on the network. This lowers both the instances of attacks and amount of energy consumed. The team is also exploring opening up cross-chain capabilities by adding ZK-Snarks in a bid to add the privacy coin function in the near future.
As a dApp focused platform, taking care of investors keen on keeping their privacy, the platform has become appealing to a mix of investors, a function that Ethereum has not been able to implement. With many new projects opting out of Ethereum, Zilliqa is poised to be the main beneficiary.
Zilliqa Future Looks Bright
Zilliqa (ZIL) has attracted a lot of interest from high profile firms as part of its strategic partners and it is just a matter of time before it surpasses the competition popularity in the market. Infoteria, a Japanese based media and software company has announced its partnership with Zilliqa.
Zilliqa appears not be comfortable with Ethereum and they have indicated they are leaving the ecosystem and create their own blockchain. The Ethereum dropping popularity is as a result of a spike in transactions fees and network congestion. This will help Zilliqa position itself as the preferred option in the market.