Zilliqa (ZIL)

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Zilliqa
Zilliqa.png
Founded 2017
Headquarters Singapore
Key People Xinxhu Dong, CEO: Jia Yaoqi, Max Kantelia, and Prateek Saxena, Founders
Employees 30
Products Public blockchain
Twitter @zilliqa
LinkedIn Profile
Website Zilliqa Homepage
Blog Zilliqa Blog


Zilliqa is a high-throughput public blockchain whose native coin is ZIL. Zilliqa leverages sharding to achieve scale.

Background

Zilliqa was originally developed by a team from the National University of Singapore School of Computing based on a 2016 research paper on sharding by an associate professor there, Prateek Saxena. Along with Saxena, Max Kantelia and Juzar Motiwalla formed Anquan Capital in 2016, which incorporated Zilliqa Research in June 2017 with the goal of establishing a blockchain. Dong Xinshu was hired as its CEO, Yaoqi Jia as its chief technology officer and Amrit Kumar as its chief scientific officer. All three previously worked as research fellows at with Saxeena.[1]

By late November 2020, its market capitalization of the almost 14 million issued ZIL reached $340 million. It was ranked 43rd among cryptocurrencies according to market capitalization by CryptoCompare, an online data aggregator and reporting service.[2]

Until the launch of the Zilliqa mainnet, the ZIL token was a mined ERC-20 token, part of the Ethereum network. It was used as an incentive payment to verify transactions, pay transaction fees, and pay for smart contract execution on the Zilliqa mainnet.[3]

Zilliqa network

According to press reports at the time, Zilliqa's January 31, 2019 launch of its public mainnet was the first successful demonstration of sharding.[4] 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.

Zilliqa uses a bespoke smart contract language called Scilla, whose name comes from Smart Contract Intermediate Level LAnguage.[5] Its "functional programming design"allows it to be more friendly towards static checks and formal verification.[6]


References