Zilliqa is a lesser-known cryptocurrency project even though it resides in the top thirty cryptocurrencies according to CoinMarketCap. The company published a blog post on Medium at the end of last week on what users can expect from the upcoming Mainnet launch. As per the Zilliqa website, “Zilliqa is enabling new decentralized business models which remove middlemen and inefficiencies. The trustless connections formed on Zilliqa’s blockchain are creating new ways of interacting and trading with each other and we’ve only just begun unfolding the possibilities.”
In the post, Zilliqa says that their goal has always been to build a better blockchain platform. One that would be able to power an ecosystem of decentralised applications and products. One thing the team really focuses on is creating a platform that will bring real value to the end user and push for meaningful adoption of blockchain technology. For any application to be viable, it is vital that the platform it is built on isn’t just sturdy and scalable, but it needs to be secure. That is why security is so important to Zilliqa.
The upcoming mainnet launch is coupled with novel features with sharding being a core aspect.
Safe Smart Contracts
To start with, the protocol comes tied with a new smart contract language dubbed as Scilla. The design of the language is intended to eliminate many known vulnerabilities in existing smart contracts and make them amenable to formal verification.
The protocol employs a novel incentive mechanism to give miners rewards by calculating their contributions in the consensus protocol. With this, thousands of miners have the chance to get rewarded for a single block resulting in low variance.
Last but not least, the network supports transaction sharding for both regular payment transactions and those that invoke smart contracts.
“Processing smart contract transactions on a sharded architecture come with its own set of challenges.”
With the launch of the Zilliqa mainnet, the team will be taking some big steps in the right direction for exciting opportunities for the adoption of the platform. In the future, the team will continue upholding the high standard in blockchain innovation and work closely with the community and different industries to bring real-world use cases to the platform.
Zilliqa is getting ready to launch its mainnet later this week on January 31st.
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