Zilliqa (ZIL) is preparing to launch its test net on June 30th as the platform continues to raise awareness and boost adoption of ZIL through outreach programs. The series of events attended by the Zilliqa development team such as the Blockchain week NYC and Boxpo are some of the events raising awareness. Upcoming events that will give the platform an opportunity to continue sharing information and marketing its platform include the Global Internet Architecture Conference to be held on 1st July and the Scaling Blockchains: The Past and Present the following day, both of which will be held in China. Zilliqa has also created a grant of USD 5 million aimed at supporting projects looking to build on Zilliqa, further encouraging developers to join and create on the platform.
ZIL has been trading in the positive having risen to a market capitalization of USD 992 million up from USD 740 million 10 days ago. The open source smart contract ecosystem enabled by Zilliqa competes directly with Ethereum which has been the main platform for the development of smart contracts. Ethereum has however faced scaling challenges with the capability to handle only up to 15 transactions per second. Scilla is the programming language used by Zilliqa giving it superior capabilities to Ethereum which uses a programming language called solidity to enable smart contract development.
Some of the key benefits of Scilla over solidity programming language is that it is a more user friendly language for developers. It also allows for developers to test their dApps and smart contracts before launching them ensuring that developers can identify and seal loopholes in their applications before officially launching them in the market. Zilliqa is also defined as blockchain agnostic, meaning that it allows for development on other blockchain platforms, unlike Ethereum which only allows for development on its blockchain. Zilliqa has achieved scaling capabilities more than 100 times the capabilities of Ethereum due to the implementation of sharding technology. Sharding splits nodes in the ecosystem into smaller groups called shards which handle verification of different transactions in parallel.
The Zilliqa team has also implemented some improvements on the consensus mechanism only using the Proof of Work (POW) mechanism to establish and perform sharding. This offers benefits such as prevention of Sybil attacks and reduced strain on the blockchain which further enhances the speed and efficiency of the platform. Zilliqa competes with both EOS and TRX, which are other platforms that target the smart contract market currently dominated by Ethereum. Of all the players in the market, Zilliqa is seen to be the most promising and technologically advanced with forecasts estimating its price to be valued at about USD 6 by the end of the year.
In its 9th project update, Zilliqa announced that it was using Kubernetes which enables for a more efficient test net deployment by requiring only the provision of the specific version of Zilliqa’s Docker image to get a test net ready within seconds. The system handles cluster maintenance making it possible for developers to freely focus on feature development and improving stability of the platform. Zilliqa offers superior technology that places it at the forefront of smart contract and dApp development making it the most promising blockchain platform for the future.