Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.
Development work officially started on Zilliqa in June 2017, and its testnet went live in March 2018. A little over year later, in June 2019, the platform launched its mainnet.
The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.
Zilliqa is a cryptocurrency that is designed to be fast and scalable, making it ideal for use in decentralized applications (dApps). Hardware wallets are physical devices that store cryptocurrency private keys offline, providing a more secure way to store your assets than keeping them on an exchange or online wallet.
At the moment, Zilliqa is supported by a limited number of hardware wallets, but more options may become available in the future. The following are some of the hardware wallets that support Zilliqa:
Ledger Nano S and Ledger Nano X – These are two of the most popular hardware wallets on the market, and they both support Zilliqa. Ledger wallets are known for their security features and ease of use.
Trezor Model T – The Trezor Model T is another popular hardware wallet that supports Zilliqa. It has a touch screen display and is compatible with a wide range of cryptocurrencies.
SecuX V20 – The SecuX V20 is a relatively new hardware wallet that supports Zilliqa. It has a sleek design and is easy to use.
Ellipal Titan – The Ellipal Titan is another hardware wallet that supports Zilliqa. It has a large touch screen display and is designed to be ultra-secure.
It’s important to note that while hardware wallets provide an additional layer of security for your cryptocurrency, they are not foolproof. It’s still important to follow best practices for cryptocurrency security, such as keeping your private keys safe and not sharing them with anyone.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
Zilliqa is a cryptocurrency that is designed to be fast and scalable, making it ideal for use in decentralized applications (dApps). Software wallets are digital wallets that store cryptocurrency private keys on your device, providing a convenient way to store and manage your assets.
There are several software wallets that support Zilliqa, both for desktop and mobile devices. Here are some of the most popular Zilliqa software wallets:
Moonlet – Moonlet is a multi-cryptocurrency wallet that supports Zilliqa. It is available for both desktop and mobile devices, and offers features such as staking, DApp integration, and transaction history.
ZilPay – ZilPay is a browser extension wallet that supports Zilliqa. It is available for Chrome, Firefox, Opera, and Brave browsers, and allows users to send and receive Zilliqa, as well as interact with dApps on the Zilliqa blockchain.
Atomic Wallet – Atomic Wallet is a multi-cryptocurrency desktop wallet that supports Zilliqa. It offers features such as built-in exchange, staking, and 24/7 customer support.
Ledger Live – Ledger Live is the desktop software provided by Ledger hardware wallets, and it also supports Zilliqa. While it is primarily designed to work with Ledger hardware wallets, it can also be used as a standalone software wallet for Zilliqa.
Trust Wallet – Trust Wallet is a mobile wallet that supports Zilliqa, as well as a wide range of other cryptocurrencies. It offers features such as staking, DApp integration, and one-click in-app exchanges.
It’s important to note that while software wallets can be convenient, they are not as secure as hardware wallets, as they are connected to the internet and therefore more vulnerable to hacking and other security threats. It’s important to follow best practices for cryptocurrency security, such as keeping your private keys safe and not sharing them with anyone.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest Zilliqa software wallets to get started with are undoubtedly Exodus, Atomic Wallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Once you decide on an exchange, open an account and buy your Zilliqa . Make sure to withdraw the Zilliqa from the exchange to your personal wallet. Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .
Zilliqa was first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena and several students in the School of Computing published a paper in 2016 that outlined how a sharding-focused blockchain could improve network efficiency and speed.
Around the same time, Saxena co-founded Anquan Capital alongside Max Kantelia, a lifelong finance and tech entrepreneur, and Juzar Motiwalla, former president of the Singapore Computer Society. The company incorporated Zilliqa Research in June 2017 to develop the Zilliqa network, bringing on Dong Xinshu 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 the NUS School of Computing.
Zilliqa is a unique cryptocurrency and blockchain platform that has several key features that set it apart from other cryptocurrencies. Here are some of the main things that make Zilliqa unique:
Scalability – Zilliqa is designed to be a highly scalable blockchain platform, capable of processing thousands of transactions per second. This is achieved through a unique consensus mechanism called “sharding,” which breaks the blockchain into smaller parts that can be processed in parallel.
Security – Zilliqa uses advanced cryptographic techniques to ensure the security of the platform. This includes the use of a secure hash algorithm (Keccak-256), digital signatures, and other measures to prevent attacks such as double-spending and Sybil attacks.
Smart Contracts – Zilliqa supports smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts can be used for a variety of applications, such as decentralized finance (DeFi) and gaming.
Interoperability – Zilliqa is designed to be interoperable with other blockchain platforms, which means that it can communicate and interact with other blockchains. This opens up possibilities for cross-chain applications and interoperable DeFi protocols.
Community – Zilliqa has a strong and active community of developers, supporters, and users who are passionate about the project. This community helps to drive the development and adoption of Zilliqa and contributes to its unique ecosystem.
Overall, Zilliqa’s combination of scalability, security, smart contracts, interoperability, and community make it a unique and promising blockchain platform with a wide range of potential applications.
Zilliqa has a fixed maximum supply of 21 billion tokens. ZIL was first made available for sale as an ERC-20 token as part of a token generation event that concluded in January 2018. The tokens were subsequently transferred to the Zilliqa mainnet in a token-swap event that concluded in February 2020.
Before launching, Zilliqa generated 60% of all tokens (12.6 billion ZIL) to be distributed at the token generation event, and the remaining 40% (8.4 billion ZIL) will be created through the mining process. Ten percent of all tokens (2.1 billion ZIL) were reserved for Anquan Capital, 12% (2.52 billion ZIL) for Zilliqa Research, and 5% for contemporary and future Zilliqa team members — all of which were announced to be distributed quarterly over a three-year period.
Zilliqa is designed such that all tokens will be mined within 10 years, with the block mining reward slowly decreasing. According to its whitepaper, the project aims to have 80% of the tokens (16.8 billion ZIL) mined within the first four years and 20% (4.2 billion ZIL) in the remaining six years.
The Zilliqa network is secured through practical Byzantine Fault Tolerance, or pBFT, consensus protocol, meaning that at least two-thirds of all nodes must agree that a record is accurate in order for it to be added to the blockchain. Each Zilliqa blockchain shard relies on a group of nodes to confirm a subsection of all the transactions, and once each shard has reached a consensus, a second group of nodes confirms the shards’ collective results and adds a new block to the blockchain.
The network uses elliptic-curve cryptography to secure its consensus protocol and allows for multisignatures. In addition to the pBFT consensus protocol that secures its transaction records, Zilliqa also uses a proof-of-work algorithm to assign node identities and generate shards.
Zilliqa developed a new language, Scilla, for its smart contracts. Short for Smart Contract Intermediate-Level Language, Scilla is a safety-focused language intended to automatically identify and eliminate security vulnerabilities at the language-level and make it easier to formally verify the safety of smart contracts through mathematical proofs.
Zilliqa (ZIL) is a cryptocurrency that is available for purchase on a variety of cryptocurrency exchanges. Here are some of the most popular exchanges where you can buy Zilliqa:
Binance – Binance is one of the largest cryptocurrency exchanges in the world and offers trading pairs for Zilliqa with several other cryptocurrencies and fiat currencies.
Huobi – Huobi is another popular cryptocurrency exchange that offers trading pairs for Zilliqa with several other cryptocurrencies and fiat currencies.
KuCoin – KuCoin is a cryptocurrency exchange that offers trading pairs for Zilliqa with several other cryptocurrencies.
Bitfinex – Bitfinex is a cryptocurrency exchange that offers trading pairs for Zilliqa with several other cryptocurrencies and fiat currencies.
Coinbase Pro – Coinbase Pro is the advanced trading platform offered by Coinbase and offers trading pairs for Zilliqa with several other cryptocurrencies.
It’s important to note that cryptocurrency exchanges can vary in terms of fees, security, and user interface. When choosing an exchange to buy Zilliqa, it’s important to do your own research and choose an exchange that fits your needs and preferences. Additionally, it’s important to always use proper security measures such as two-factor authentication and not keeping your Zilliqa holdings on an exchange for extended periods of time.