Today, one of the from moving forward is its . This is no secret, so there has been some notable scalability projects like: the Lighting Network, Plasma, Side-chains, Mimblewimble, etc, but the . Ever since Vitalik introduced a there has been a tremendous amount of chatter about this technology. One particular project that takes a to sharding is . This project splitting the entire state of the network into a bunch of partitions called shards. Zilliqa can actually Meaning, every single node in their network will have a copy of the current state but the transaction history will be split into pieces across different nodes. I feel that with their aggressive road map, impressive team, funding, go to market strategy, and biggest problems plaguing the blockchain industry inability to scale most interesting one to me is the concept of sharding sharding proof of concept for Ethereum novel approach Zilliqa goes beyond separate the state and the transaction history of the blockchain. innovative approach to sharding this may be a top ten coin in 12 months. Basics: The Zilliqa project in 2016 originated from the Singapore University Zilliqa is a next generation throughput blockchain platform that is , a and scalability-focused blockchain-based payment processing decentralized application (dapp) platform Unlike many blockchain projects, Zilliqa and will be releasing their has already implemented sharding mainnet in January of 2019 Price: $.04Ranking by Market Cap: 30Market Capitalization: $306,540,431Circulating Supply: 7,569,302,268 ZIL Max Supply: 12,600,000,000 ZILAverage 24hr Trading Volume: $16,248,610 Ticker: ZIL Team: The who has a PhD from the National University of Singapore. Xinshu is a scientist and has vast experience building secure systems, ranging from blockchains to web browsers and applications. More recently, he led the research and development of Anquan’s proprietary scalable and secure blockchain, which was deployed for financial and ecommerce applications. Zilliqa team is lead by Xinshu Dong The who also has a PhD from National University of Singapore. His prior experience focuses on building secure and privacy-preserving web and distributed systems with cryptographic mechanisms. His prior research work has been published in top international conferences, such as CCS, USENIX Security, PETS, RAID, ESORICS and has also received the Best Paper Award in W2SP (2014). His work was acknowledged by Google and Apple (CVE-2014–7948 for Chrome and CVE-2015–5907 for Safari). head of technology for the team is Yaoqi Jia The Zilliqa team has an additional 16 blockchain developers and engineers Rounding out the Zilliqa team are 7 business developers and strategists Drivers of Growth: In their most recent experiment on the . testnet, Zilliqa achieved 2500 TPS with 3600 nodes on the network The . This is a unique approach in that most blockchains decrease in speed as the number of nodes increase. Zilliqa gets faster. more nodes that join the network, the faster the network runs Like Ethereum, Zilliqa supports smart contracts, but it does so using a , with the ability to run programs in parallel to make use of the full computational power of the network. new scripting language built specifically for sharding Although sharding as a concept has existed in the database field for some time, . There are three different ways that Zilliqa performs sharding: Network Sharding, Atomic Transaction Sharding, and Computational Sharding. Zilliqa is the first blockchain platform to actually implement it Network sharding refers to the process by which the network is broken up into subnetworks. This means that subsets of transactions can be processed in parallel, which results in much faster throughput of transactions than singular blockchain networks. Zilliqa uses PoW only to (a type of network attack based on the attacker forging their identity) and to carry out sharding. prevent Sybil attacks : a user initiates a transaction, which is then sent to a shard. The shard validates the transaction, grouping it with other transactions to form a “microblock” of transactions, and a consensus is reached by the shard on the validity of the microblock. This microblock is sent to the DS committee, which combines the microblocks into what is called the “final block” and runs a final consensus on this block before adding it to the blockchain. A transaction in Zilliqa looks like this Zilliqa also uses what is called an which means it allows transactions to be confirmed by the network in a final operation as if there were no sharding. This is done through Zilliqa’s “account-based design” in which transactions are sharded based on the accounts sending the transaction. atomic transaction sharding protocol, The final way that Zilliqa uses a k that allows resource intensive dapps to be run on the network more efficiently. The Zilliqa network is able to run more than one instruction at once, in contrast to other dapp and smart contract platforms such as Ethereum that allow only one instruction to be processed at a time. sharding is through a computational framewor Recently, . Bluzelle promises a decentralized database solution, which would solve the memory problem that Zilliqa must overcome when implementing smart contracts with sharding. Zilliqa has partnered with Bluzelle High profile funds invested in Zilliqa: 1kx — HyperChain Capital — 8 Decimal Capital — Danhua Capital (DHVC) — One Block Capital — NEO Global Capital — Signum Capital — Node Capital — Kenetic Capital — FBG Capital — Polychain Capital — Metachain Capital Headwinds: Zilliqa implements transaction but not state sharding. State sharding is more complex and is still being researched. There are a lot of problems that need to be worked out and no one has yet implemented a working state sharding for blockchain yet. Zilliqa does not store state information on their blockchain itself. The storage of state information is needed for the implementation of smart contracts on a platform, but has partnered with Bluzelle as a solution to this problem. The team is very much cultivated from the hardcore programming/math/computer science crowd, so there’s not much marketing. This means you won’t see hype or pump news being perpetuated by the team. They are focused on letting the technology deliver itself. Conclusion: The core features allowing Zilliqa to scale beyond what is possible with existing similar platforms, such as Ethereum, is Zilliqa’s transaction speeds which will theoretically increase as the number of network nodes increases. The network should ultimately be able to match the transaction processing speeds of VISA and MasterCard, according to the Zilliqa development team, but with lower fees and without relying on a centralized network. With Zilliqa’s support network of partnerships, high profile funders, cutting edge technology, and leadership this coin could easily be in the top 10 once the mainnet is launched. For more insights be sure to check out my website: www.MasiDigitalVentures.com
