Thread by @AltCryptoGems

The World's first Sharding-based Blockchain...

Meet @Zilliqa!

Here's an extensive project review! 🔍

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@Zilliqa first launched in 2017, as they saw other blockchains struggling with one major problem, scalability. That is where 'Sharding' comes into play...

#Zilliqa's very own engineering team also created a programming language, 'Scilla' which is supposed to guarantee the safety of smart contracts by limiting the exposure to attacks on the blockchain.

What is '#Sharding'?

Put simply, 'Sharding' is done by splitting the #blockchain into various partitions, aka 'Shards' and storing them in multiple places across a peer-to-peer (P2P) network.

This is done so that each #node isn't responsible for processing all of the transactions on the network, instead, each node only holds the information related to its partition/shard.

Shards can share information with nodes, but cannot process and store all of the information.

To put it into perspective, this is the comparison in fees between #Ethereum & #Zilliqa:

Native Token Transfer
$ETH = $2.50 - $ZIL = $0.011

Fungible Token Transfer
$ETH = $6 - $ZIL = $0.1

Non-Fungible Token Transfer (#NFT)
$ETH = $8 - $ZIL = $0.1

It just goes to show @Zilliqa is 60-227x cheaper than @Ethereum and not only that, #Zilliqa can process 2800 transactions per second (TPS), whereas #Ethereum can only process 30 TPS!

The @Zilliqa ecosystem currently has over 194 projects built/integrated on their network, such as @Binance, @Chainlink & @XCad, which is backed by some of the largest YouTubers in the world, @KSI, @MrBeast and many more.

The #Zilliqa network currently has over 4 million addresses/users and processes an average of over 40,000 transactions per day.$ZIL which is the native token on the network allows users to interact and trade with other tokens on the network, which can be traded on @Zilswap.

If you're looking to earn extra $ZIL with your idle tokens, you can stake your $ZIL with many trusted validators on the network and earn up to 13.03% APY.

At the time of writing, $ZIL is currently sitting at $0.03462 with a market cap of $460.1M. #Zilliqa is 86.43% down from its ATH in 2021 when it reached over $0.25 per token and had an immense market cap of over $2.6B!

If you are a gamer, #Zilliqa is bringing out a new survival shooter game that seems to have amazing graphics and mechanics.

The #game has no title as of yet, but aims to be a cross-pay compatible game across #Windows PC, #iPhone & #iPad!

To find out more, join their discord!

#Zilliqa links

Zilliqa Twitter - @Zilliqa
Zilliqa Website - zilliqa.com

That's it for now, thanks for reading!

Hope you guys enjoyed it and learned something! Leave a like/rt if you did!

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