Zilliqa is on the brink of what could be quite a large scale expansion. Their mainnet is set to launch next week on the 31st of January and will see ZIL migrate onto its own native blockchain, in the same way TRON did during the middle of last year. With this, Zilliqa will be the first ‘high-end’ crypto project to implement sharding with the use of a revolutionary new smart contract known as Scilla. What’s more though, Zilliqa are also bedding down with a new project, in partnership with MaiCoin and the launch of Hg Exchange, a new concept that could bring in some incredible investment from companies such as Uber, Airbnb and SpaceX.
What is Zilliqa?
Despite generally residing in the markets top 30, Zilliqa is considered a lesser-known cryptocurrency project, this is of course because the media is dominated by the mainstream tokens such as Bitcoin, XRP and Ethereum. Even so though, Zilliqa is a solid project, backed by ZIL, a token that always seems to impress.
According to 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. Zilliqa’s high throughput means that you can focus on developing your ideas without worrying about network congestion, high transaction fees or security which are the key issues with legacy blockchain platforms.”
Zilliqa in essence helps companies build decentralised applications on a secure and scalable blockchain.
The announcement of Hg Exchange, in partnership with MaiCoin has put ZIL on the map, ready for their looming mainnet roll out. The aim of Hg Exchange is to offer a platform for regular investment in cryptocurrencies from start-up companies such as Uber, Airbnb and SpaceX. They hope to achieve this by offering an entirely liquid solution that allows these companies to monetise their own shares, within the blockchain.
Zilliqa’s role in this, in partnership with MaiCoin will bring a wealth of technological experience to the exchange, meaning a blockchain solution can be built for Hg Exchange that will meet the demands of high-end customers, such as Uber and SpaceX. According to Ethereum World News, Xinshu Dong, the CEO of Zilliqa has spoken with excitement about their role at Hg Exchange:
“Hg Exchange is a prime example of how Zilliqa is collaborating with leading industry partners to enable new and innovative use cases that disrupt and advance traditional sectors, adding value to users. As we launch our mainnet at the end of January, our aim is to continue to focus on real-world use cases to accelerate the mainstream adoption of blockchain, and move the industry towards meaningful growth.”
Alex Liu, the CEO of MaiCoin has added:
“The intersection of blockchain technology with traditional asset classes such as private equity promises to globalize and liquefy previously illiquid assets. The attendant liquidity premium that will be enjoyed by all market participants will be delivered only through a combination of innovative technology and prudent regulation. Having worked closely with financial institutions in Taiwan to serve the retail markets, we look forward to partnering with the world-class team of Zilliqa and leading financial intermediaries to serve the institutional market in Southeast Asia.”
This shows just how versatile the Zilliqa project is in practice and is sure to encourage some new investment in ZIL, the token that represents Zilliqa. As investors see more use cases for this, a huge wave of investment could step in and bring this project to the fore. Whether it will be able to compete with similar projects such as EOS and TRON, only time will tell, however from this news we can at least assume Zilliqa are on the right path to bolstering their own reputation.
Zilliqa Mainnet Launch
As we have stated, Zilliqa are set to roll out their mainnet next week. This roll out had actually been planned for much later in the year, however the team at Zilliqa are now confident that the mainnet is ready for launch. The 31st of January is significant as this marks one year since ZIL was offered in a token generation event, they see this as their first birthday and therefore a roll out of a native mainnet for ZIL on the 31st is very important indeed.
Following the mainnet launch, Zilliqa will bootstrap the network in order to prevent attacks during periods of low hash power. They will also begin to test the new sharding system and new mining rewards. Lastly, we expect to see a token swap take place in the wake of the roll out, during which time old ZIL tokens will be swapped out for the new native ZIL token.
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