Zilliqa (ZIL)

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Founded 2016
Headquarters Singapore
Key People Xinxhu Dong, CEO: Jia Yaoqi, Max Kantelia, and Prateek Saxena, Founders
Products Public blockchain that uses sharding to gain speed
Twitter @zilliqa
Website Zilliqa Homepage
Blog Zilliqa Blog

Zilliqa (ZIL) was ranked 36th largest cryptocurrency by capitalization, which was more $142 million on February 25, 2019, according to CoinMarketCap, an online industry data reporting service.[1] Until the launch of the Zilliqa mainnet, the ZIL token was a mined ERC-20 token, part of the Ethereum network. It is used as an incentive payment to verify transactions, pay transaction fees, and pay for smart contract execution on the Zillica mainnet.[2]

According to press reports, Zilliqa's January 31, 2019 launch of its public mainnet was the first successful demonstration of sharding.[3] Sharding is the term for any number of techniques that are used to manage large databases, and in blockchain it refers to splitting blocks into smaller blocks in order to speed transaction confirmations on the blockchain.