ZIL
Reputation Ratings

ZIL

Zilliqa 5-10 years
Website https://www.zilliqa.com/
Browser
OTH RELPs
Github
White Paper
Avg Price
-1.41%
1D

$ 0.019533 USD

$ 0.019533 USD

Market Cap

$ 367.307 million USD

$ 367.307m USD

24h trading volume

$ 12.304 million USD

$ 12.304m USD

7d Vol

$ 115.32 million USD

$ 115.32m USD

Circulating supply

18.5112 billion ZIL

Related information

Issue Time

2018-01-26

Platform pertained to

--

Current price

$0.019533USD

Market Cap

$367.307mUSD

Volume of Transaction

24h

$12.304mUSD

Circulating supply

18.5112bZIL

Volume of Transaction

7d

$115.32mUSD

Change

24h

-1.41%

Number of Markets

344

Github Messages

More

Warehouse

Zilliqa

Github's IP Address

[Copy]

Codebase Size

46

Last Updated Time

2020-09-21 05:29:11

Language Involved

--

Agreement

--

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Current Rate0

Available

0.00USD

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Historical Price

Introduction

Markets

3H

-0.54%

1D

-1.41%

1W

-8.49%

1M

-18.71%

1Y

+10.86%

All

-65.76%

Aspect Information
Short Name ZIL
Full Name Zilliqa
Founded Year 2017
Main Founders Prateek Saxena, Xinshu Dong, Amrit Kumar
Support Exchanges Binance, Huobi, Okex, Cryptopia, Bittrex, KuCoin, Coinex, HitBTC, Bilaxy, Bitfinex
Storage Wallet MyEtherWallet, Ledger Wallet, Trezor Wallet
Customer Support Email: enquiry@zilliqa.com
Twitter, Discord, Reddit, Instagram, Facebook, Linkedin, YouTube, and Telegram

Overview of ZIL

Zilliqa (ZIL) is the beating heart of the Zilliqa blockchain, functioning primarily as a Utility Token. It is a type of cryptocurrency that was founded in 2017 by Prateek Saxena, Xinshu Dong, and Amrit Kumar. The digital asset operates on its own blockchain platform, known for its use of sharding technology to increase network scalability. ZIL can be traded on several exchanges, including but not limited to Binance, Huobi, and Okex. Furthermore, individuals can store ZIL tokens in a variety of wallets, such as MyEtherWallet, the Ledger Wallet, and the Trezor Wallet. To obtain more information, you can visit their website: https://www.zilliqa.com/ and try to log in or register to use more services.

Overview of ZIL

Pros and Cons

Pros Cons
Uses Sharding Technology for Scalability Limited Adoption
Supported by Multiple Exchanges Increased Competition
Variety of Storage Options Market Volatility

Pros:

1. Uses Sharding Technology for Scalability: Sharding is a blockchain scaling solution that Zilliqa pioneered. It allows the network to process transactions in parallel subgroups, or 'shards', thereby substantially increasing its capacity to handle high volumes of transactions - a crucial feature for a platform that aims to host decentralized applications.

2. Support from Multiple Exchanges: Zilliqa enjoys broad-based support among cryptocurrency exchanges. Listing on multiple platforms, such as Binance, Huobi, and Okex, provides accessibility for a diverse range of investors. It not only eases purchasing and trading the token but also indicates a wider recognition within the crypto exchange community.

3. Variety of Storage Options: ZIL tokens can be stored on an array of digital wallets. This gives users a good degree of flexibility and choice in picking a storage option that fits their security, ease of use, and other personal requirements. Notable compatible wallets include MyEtherWallet, Ledger Wallet, and Trezor Wallet.

Cons:

1. Limited Adoption: Despite its technological advancements, Zilliqa faces a challenge in terms of widespread adoption. Though it introduced novel solutions such as sharding, these advancements are yet to garner a large-scale user base when compared to more established cryptocurrencies.

2. Increased Competition: The cryptocurrency market space is packed with various currencies, each offering unique services and technologies. This has led to an intensely competitive arena, with Zilliqa competing against numerous other tokens for user adoption, investor attention, and market share.

3. Market Volatility: Like all cryptocurrencies, Zilliqa is subject to a fair degree of price volatility. The worth of crypto assets can undergo drastic changes in short time spans based on several factors like market sentiment, regulatory news, technological advancements, etc.

What Makes ZIL Unique?

Zilliqa (ZIL) introduces a key innovation in the blockchain technology space - sharding. This is a method where the network is divided into several smaller component networks, termed as 'shards', capable of processing transactions and smart contracts in parallel. Sharding largely enhances network scalability and improves the transaction speed thereby capable of supporting more users and data.

However, it is important to note that sharding is not unique to Zilliqa alone. Ethereum, in its next upgrade (Ethereum 2.0), is also planning to implement sharding to boost its speed and scalability. Therefore, how Zilliqa employs and constructs upon its sharding technology in the face of such added competition remains an important determinant of its distinction.

What Makes ZIL Unique?

How Does ZIL Work?

Zilliqa operates on a hybrid consensus protocol that combines Proof of Work (PoW) and Byzantine Fault Tolerance (BFT). The unique thing about Zilliqa's operation mode is that PoW is used only to establish node identities and prevent Sybil attacks, rather than for block generation, as in Bitcoin.

In Zilliqa's network, the nodes first perform PoW. Nodes that successfully complete their PoW are grouped together into networks known as shards. Each shard, consisting of about 600 nodes, is capable of processing transactions in parallel with other shards, thus increasing the overall transaction rate of the network.

This brings us to Zilliqa's key innovation, sharding. Sharding divides a network into smaller, more manageable parts (shards), each capable of processing its own microblocks. The microblocks from each shard are then merged into one complete block that is added to the blockchain. By processing transactions in smaller, parallel blocks, sharding increases Zilliqa's capability to handle large volumes of transactions, enhancing the scalability of the network.

How Does ZIL Work?

The Zilliqa network also uses the Scilla programming language for smart contracts. Scilla is designed with a focus on security and correctness and allows formal verification of contracts, a preventative measure against bugs and security vulnerabilities.

How Does ZIL Work?

Market & Price

The last Zilliqa airdrop occurred in November 2021 for users who interacted with the Jupiter DEX platform. Now the circulating supply is 17,372,203,179 ZIL.

As of February 18, 2024, Zilliqa (ZIL) is trading at around $0.023.

Over the past 24 hours, ZIL has seen a positive fluctuation of around 2.34%.

Over the past 7 days, it has experienced a positive fluctuation of about 9.21%.

Looking at a broader timeframe, ZIL has fluctuated significantly since its launch in 2018. It reached an all-time high of $0.237 in April 2021 but has since experienced dips and rises, currently remaining below its peak price.

Exchanges to Buy ZIL

Several cryptocurrency exchanges support the purchase and trading of Zilliqa (ZIL).

1. Binance: Binance supports a multitude of pairs for ZIL, including ZIL/BTC, ZIL/ETH, ZIL/BNB, and ZIL/USDT among others. See this link for details on how to buy ZIL: https://www.binance.com/en/how-to-buy/zilliqa.

Exchanges to Buy ZIL

Step 1: Create a free account on the Binance website or the app.

Binance is a centralized exchange where you can buy several cryptocurrencies including Zilliqa. Before you can use the Binance platform, you'll need to open an account and verify your identification.

Step 2: Choose how you want to buy the Zilliqa asset.

Click on the “Buy Crypto” link on the top of the Binance website navigation to know about the available options to buy Zilliqa in your country.

Step 3: Check the payment details and fees.

You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. You can click Refresh to see the new order amount.

Step 4: Store or use your Zilliqa in Binance.

Now that you bought your crypto, you can store it in your personal crypto wallet or simply hold it in your Binance account. You can also trade for other crypto or stake it on Binance Earn for passive income.

2. KuCoin: KuCoin has pairs for ZIL such as ZIL/BTC, ZIL/ETH, and ZIL/USDT. See this link for details on how to buy ZIL: https://www.kucoin.com/how-to-buy/zilliqa.

Exchanges to Buy ZIL

Step 1: Create Your Free KuCoin Account

Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

Step 2: Secure Your Account

Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

Step 3: Verify Your Account

Verify your identity by entering your personal information and uploading a valid Photo ID.

Step 4: Add a Payment Method

Add a credit/debit card or bank account after verifying your KuCoin account.

Step 5: Buy Zilliqa (ZIL)

Use a variety of payment options to buy Zilliqa on KuCoin.

3. Okex: On Okex, you can trade ZIL with pairs such as ZIL/BTC, ZIL/ETH, and ZIL/USDT.

4. Bittrex: Bittrex offers pairs like ZIL/USD, ZIL/BTC, and ZIL/ETH.

5. Cryptopia: On Cryptopia, you can find pairs like ZIL/BTC and ZIL/LTC.

6. Huobi: Huobi also offers several pairs for ZIL like ZIL/BTC, ZIL/ETH, and ZIL/USDT.

7. Coinex: On Coinex, ZIL pairs include ZIL/BCH, ZIL/USDT, and ZIL/BTC.

8. HitBTC: HitBTC offers pairs like ZIL/BTC, ZIL/ETH, and ZIL/USDT.

9. Bilaxy: On Bilaxy, you can trade ZIL with pairs such as ZIL/BTC and ZIL/ETH.

10. Bitfinex: Bitfinex supports ZIL trading with pairs including ZIL/USD and ZIL/BTC.

How to Store ZIL?

Storing Zilliqa (ZIL) involves selecting a compatible digital wallet to hold and manage the tokens. It's essential to consider factors like security, convenience of use, and accessibility while choosing a wallet.

1. Hardware Wallets: These are physical devices that can securely store cryptocurrency offline. Ledger and Trezor are two hardware wallets that are compatible with Zilliqa. These offer high-security levels as they keep the tokens offline and out of reach from potential hacking attempts.

2. Software Wallets: These are programs that can be installed on your devices. MyEtherWallet is an example of such a wallet that supports ZIL. Software wallets provide good security and are convenient for regular use, but they are not as secure as hardware wallets.

3. Mobile Wallets: These are apps installed on your smartphone, useful for accessing your tokens anytime, anywhere. Trust Wallet and Atomic Wallet are examples of mobile wallets that support ZIL. These wallets offer convenience and are good for daily small transactions, but their security level depends on the security measures of the mobile device.

4. Web Wallets: These are online wallets that can be accessed through a web browser. MyEtherWallet is a popular choice, and while these wallets offer accessibility from different devices, they also expose the user to internet threats.

5. Desktop Wallets: These are installed on a single computer and provide access to the user's tokens from that device only. Atomic Wallet is a desktop wallet that supports ZIL. This type of wallet is safer than web wallets but is limited to one device.

How to Store ZIL?

Is It Safe?

The Zilliqa network uses a hybrid consensus mechanism combining Proof-of-Work (PoW) and Byzantine Fault Tolerance (BFT) for security. This is generally considered secure, but no blockchain is completely immune to hacks or exploits.

The Scilla smart contract language used on Zilliqa aims to prevent common vulnerabilities found in other languages, potentially reducing the risk of smart contract-related attacks.

However, the safety of your tokens depends on your chosen storage method and practices.

Is It Safe?

How to Earn ZIL Coins?

There are several ways to earn ZIL, each with its own advantages and disadvantages.

1. Staking:

This is the most common way to earn ZIL passively. You contribute your ZIL tokens to a validator node on the Zilliqa network, essentially helping to secure it and process transactions. In return, you earn rewards in the form of additional ZIL.

Pros: Passive income, relatively low risk.

Cons: Requires locking up your ZIL for a period, rewards can vary depending on network parameters and staking pool chosen.

Staking

2. Participating in dApps:

Many dApps built on the Zilliqa network offer rewards for various activities, such as playing games, providing liquidity, or completing tasks.

Pros: Can be more engaging than staking, potential for higher rewards.

Cons: Higher risk due to potential dApp vulnerabilities, requires active participation.

3. Trading ZIL:

You can try to buy ZIL low and sell it high for profit. However, this involves actively trading and carries significant risk due to the volatile nature of the cryptocurrency market.

Pros: Potential for high returns.

Cons: High risk of losing money, requires significant knowledge and experience.

5. Participating in Airdrops or Bounties:

Occasionally, projects running on the Zilliqa network may airdrop ZIL tokens to promote their projects. You can also find bounties offering ZIL rewards for specific tasks.

Pros: Free ZIL, can be a good way to discover new projects.

Cons: Often scams involved, be cautious and only participate in legitimate opportunities.

Conclusion

Zilliqa (ZIL) is a cryptocurrency known for introducing sharding to the blockchain, a development that increases transaction speed, particularly attractive for decentralized application development. The cryptocurrency has broad support in terms of exchange listings and storage options, showing a degree of market acceptance and accessibility. However, future appreciation of ZIL and its potential to make money is not guaranteed, considering external factors such as market volatility, regulatory changes, and competition from other cryptocurrencies. Therefore, we advise you to undertake a comprehensive analysis of these factors to understand the possible growth and profitability.

FAQs

Q: What technology does Zilliqa use to handle scalability issues?

A: Zilliqa utilizes sharding technology, a method that breaks down the network into smaller components capable of processing transactions in parallel, thereby improving scalability.

Q: What is the underlying consensus mechanism that Zilliqa uses on its platform?

A: Zilliqa uses a hybrid consensus protocol that merges Proof of Work (PoW) and Byzantine Fault Tolerance (BFT) mechanisms.

Q: Are there specific wallets recommended for storing Zilliqa tokens?

A: Zilliqa (ZIL) can be held in numerous wallets, including but not limited to MyEtherWallet, the Ledger Wallet, and the Trezor Wallet.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

14 ratings

Participate in evaluation
Scarletc
ZIL is capable of handling a higher number of transactions compared to some other blockchains.
2023-11-20 22:39
6
zeally
ZIL is the native cryptocurrency of the Zilliqa platform. It is used for various purposes, including transaction fees, participating in the network's consensus mechanism, and interacting with smart contracts on the Zilliqa blockchain.
2023-12-19 18:05
9
leofrost
Zilliqa (ZIL) is a blockchain platform known for its focus on scalability and high-throughput. It employs a unique sharding technique to enhance performance and enable more transactions per second. ZIL aims to provide a secure and efficient environment for decentralized applications (DApps) and smart contracts. Monitoring Zilliqa's developments, partnerships, and its position in the blockchain space can offer valuable insights into the ongoing significance of ZIL.
2023-11-30 21:50
8
Windowlight
One of ZIL's key strengths lies in its implementation of sharding technology, which enables high throughput and faster transaction speeds. This scalability solution addresses a significant challenge faced by many blockchain platforms, making ZIL well-suited for applications requiring quick and efficient processing.
2023-11-22 02:44
3
Dory724
High-throughput blockchain. Promising sharding tech, partnerships growing. Keep an eye on scalability challenges.
2023-11-28 19:07
4
Lala27
ZIL is a native token for the Zilliqa blockchain built to enable and scale decentralised apps, from financial services to NFT marketplaces. With ZIL, you can engage with every dApp and platform service built on the Zilliqa blockchain.
2023-09-29 13:52
6
Matriks
Zilliqa (ZIL) is a high-scalability blockchain project thanks to its sharding technology. They focus on smart contracts and decentralized applications. Maintain realistic expectations when investing.
2023-09-07 00:17
9
khalifa3228
Zilliqa's use of sharding for scalability and speed is impressive. The project's focus on creating a high-throughput blockchain without compromising on security is commendable."
2023-12-25 19:45
2
CJ002
(Zilliqa) - Strong indication Scalable and secure blockchain platform, more pull is expected. Strong team and partnerships. Potential for growth in the future viability may be sustained.
2023-12-21 14:49
4
CJ002
SC (Siacoin) - Decentralized storage platform. Promising concept, but faces tough competition. Long-term success uncertain.
2023-12-21 13:48
1
Jenny8248
(ZIL) is a high-throughput blockchain platform known for its use of sharding technology to improve scalability. I
2023-12-09 00:37
7
Jenny8248
It aims to improve efficiency in decentralized applications and smart contracts. ZIL's utility lies in powering the network, facilitating transactions, and participating in governance.
2023-12-04 23:12
4
iamjayylopezz
since 4 days, any ETA for reactivation? its very hassle. now my funds are stuck and I loss profits!
2021-09-20 17:07
0
MinnieY
$ZIL always give me great profit. The utility, the mangement or the hype, all are amazing. It is fun to trade this token.
2023-01-14 01:32
0