Zilliqa 2.0 – Weekly Progress Update:
✅ The first full rehearsal of a Zilliqa 2.0 network launch has been successfully completed. Additional rehearsals for both the mainnet and testnet are scheduled for the upcoming weekend to further validate system readiness.
🗓 The release of version 0.9.0 has been rescheduled for this week following the discovery of issues during the migration to the new redb database. These are currently being addressed to ensure stability and performance.
🛡️ The Hacken bug bounty program concludes today. Several new reports were submitted yesterday and are under active review by the security team. Relevant findings will be disclosed in accordance with our responsible disclosure process.
🧪 During extensive testing of reward claiming on Zillion, expensive Scilla transactions significantly impacted block production. As observed on the proto-mainnet, such transactions can lead to the temporary stalling of the network. This Scilla-related issue is a significant risk that directly affects the planned mainnet migration date.
⚠️ The current assessment is that the Zilliqa 2.0 mainnet launch may need to be postponed by one week unless a solution to this issue is implemented by the end of this week.
We appreciate the community's continued support and will provide further updates as progress continues.
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Have questions about the upcoming migration to Zilliqa 2.0?
Check out the FAQs on our Zilliqa 2.0 roadmap site — covering everything from the switchover date to token compatibility:
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Leadership update: After serving as CFO for 3 years, Alexander Zahnd has now stepped in as interim CEO of Zilliqa following the recent departure of Matt Dyer.
“I am grateful for Matt’s contributions, and want to reiterate that our focus remains on driving ahead towards Zilliqa 2.0. Thank you for your continued support” - Alexander Zahnd (@0xCypherPeak).
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According to the official blog, Zilliqa announced today that Alexander Zahnd has been appointed interim CEO of the organization as part of the leadership transition, following the recent departure of CEO Matt Dier.
Alex has been the CFO of Zilliqa for three years and is well placed to oversee the operations of Zilliqa as it transitions to a more flexible, high-performing network and upgrades to Zilliqa 2.0, Zilliqa said. Zilliqa's primary focus remains on the successful delivery of the enhanced Zilliqa 2.0 network in accordance with the updated roadmap and development timeline.
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Zilliqa 2.0 Mainnet 👉
More highlights 👉
The current price of Zilliqa is $0.014670. Over the last 24 hours, Zilliqa has increased by +3.53%. It currently has a circulating supply of 19,498,625,821 ZIL and a maximum supply of 21,000,000,000 ZIL, giving it a fully diluted market cap of $286.43M. At present, the Zilliqa coin holds the 118 position in market cap rankings. The Zilliqa/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
In the world of blockchain, scalability has long been a challenge, hindering the widespread adoption of this transformative technology. However, solutions have emerged to address this issue. One such solution is Zilliqa (ZIL). With its innovative protocol, Zilliqa aims to overcome the scalability challenge, opening doors for various sectors to embrace blockchain technology without sacrificing performance.
What is Zilliqa
Zilliqa is a high-performance blockchain platform designed to address the scalability challenges faced by traditional blockchain networks. While its capabilities are related to other blockchains like Ethereum and Solana, Zilliqa employs a unique technique to enhance transaction throughput, allowing a larger number of transactions to be processed simultaneously.
ZIL is the native digital token of the Zilliqa blockchain, officially introduced in 2017. This native token can be used to pay transaction fees on the Zilliqa network.
The ZIL team
Zilliqa was founded in 2017 by researchers Amrit Kumar and Xinshu Dong. The team behind Zilliqa includes two board members, Juzar Motiwalla and Mark Hemsley, as well as seven executives: Tom Fleetham, Bradley Laws, Richard Watts, Advait Gehurye, Alex Spells, Max Kantelia, and Matt Dyer.
How does ZIL work
Zilliqa stands out among its competitors by implementing a technique called sharding, which allows for high transaction throughput. In the sharding process, the Zilliqa blockchain is divided into smaller units called shards. Each node in the network is responsible for storing and processing data related to its assigned shard rather than processing the entire network's load. This efficient approach has made Zilliqa a popular choice for various industries, including financial services, entertainment, and gaming.
Zilliqa has several types of nodes, including seed nodes, DS nodes, lookup nodes, staked seeds nodes, and shard nodes. The Zilliqa testnet currently has 27 validators, and the validator default list is organized by features reward, staked balance, balance, user, delegation address, and balance share.
Zilliqa consensus mechanism
Zilliqa utilizes a distinct consensus mechanism, which combines Practical Byzantine Fault Tolerance (pBFT) and Proof of Work (PoW) to verify transactions on the blockchain. pBFT is a unique consensus mechanism that synchronizes all nodes to ensure that a relatively higher number of nodes agree on data accuracy before storing it on the network.
Zilliqa’s native token: ZIL
ZIL is the native token of Zilliqa, a Layer 1 blockchain.
ZIL tokenomics
The maximum supply of ZIL is set at a fixed amount of 21 billion. The total supply gradually increases over time until it reaches the hard cap of 21 billion. To ensure a sustainable distribution, Zilliqa plans to reserve 20 percent of its ZIL supply until 2027. In the first four years following its inception, approximately 80 percent of the total supply has been mined. This distribution strategy aims to support the long-term growth and stability of the Zilliqa ecosystem.
How is ZIL different from gZIL
ZIL is used to transact on the Zilliqa network and motivate miners to earn block rewards through mining.
On the other hand, gZIL serves as a Zilliqa governance token that allows community members to contribute to the improvement and development of the protocol. Essentially, each user possessing gZIL can actively vote and participate in the platform’s governance. Users can earn gZIL by staking their ZIL tokens.
ZIL use cases
As the native coin of the Zilliqa ecosystem, ZIL is used for crucial purposes such as transaction payment, governance, staking, and more.
Distribution of ZIL
ZIL is distributed as follows:
60 percent was pre-mined before Zilliqa’s launch and used to advance the blockchain’s ecosystem.
40 percent is reserved as mining and staking rewards.
What lies ahead for Zilliqa
Looking ahead, Zilliqa is poised for continued growth and development. With its pioneering sharded network, ZIL has witnessed widespread adoption and achieved notable valuation. The team behind Zilliqa remains committed to enhancing the network's infrastructure and scalability. Currently, the network processes millions of transactions each month and has significantly increased its block production, now generating up to 2,500 blocks daily. With these advancements, Zilliqa is set to compete with other scalable blockchains in the years to come.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1.3K new posts about Zilliqa, driven by 639 contributors, and total online engagement reached 167K social interactions. The sentiment score for Zilliqa currently stands at 74%. Compared to all cryptocurrencies, post volume for Zilliqa currently ranks at 3389. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Zilliqa.
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Zilliqa FAQ
What is Zilliqa?
Zilliqa is a high-performance blockchain network that focuses on scalability and enables the execution of smart contracts. It utilizes the innovative sharding technique to process a large number of transactions simultaneously, making it a highly scalable and efficient platform.
How many transactions can Zilliqa process per second?
Zilliqa has achieved a capacity of handling up to 2,828 transactions per second (TPS). This high throughput enables fast and efficient transaction processing, making Zilliqa suitable for applications that require high-performance blockchain solutions.
Where can I buy ZIL?
Easily buy ZIL tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include ZIL/USDT, and ZIL/USDC.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into ZIL, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
How much is 1 Zilliqa worth today?
Currently, one Zilliqa is worth $0.014670. For answers and insight into Zilliqa's price action, you're in the right place. Explore the latest Zilliqa charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Zilliqa, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Zilliqa have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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