The flow of good news for Zilliqa (ZIL) isn’t going to dry up anytime soon. This is a very exciting time for the ZIL community and its development team, helping propel the coin into limelight even more.
Invest in Blockchain has ranked Zilliqa 7th on
the list of most influential ERC-20 tokens on the Ethereum blockchain. But these will likely change soon as ZIL powers to the top via solid performances and real-world applications.
While that is a commendable mention, there’s more to be excited about going into what I’d like to think is a date with destiny for the Zilliqa community. The reason is simple: this cryptocurrency not only has the potential to capture top spot as the best ERC-20 token but also in a big way, put Ethereum itself under pressure.
While Zilliqa shares much of the functionality that Ethereum has, there are three additional components that are going to set it apart. These are sharding, its new programming language Scilla, and an influx of partners.
The first two put ZIL in pole position to challenge Ethereum’s dominance, pushing other blockchain protocols to the rear. The third one could confirm its status as the hottest coin in the market at the moment. It’s really exciting to see what the platform can actually end up achieving with all these trump cards it holds over the other coins.
Scilla to put ZIL ahead of the competition
The Zilliqa platform is preparing for their Singapore meet-up where they will release further information about their new smart contracts language Scilla. If what the team is promising is factually true, then we could be in for an exciting duel. The crypto can support dApps just like Ethereum but has a far superior transaction throughput made possible by its sharding technology. Remember it’s the same technology that Ethereum is trying to develop to aid its scalability woes.
On top of being capable of thousands of transactions, that could reach levels similar to those by VISA, the ZIL team has developed a “new smart contract language {called} Scilla that enables unprecedented security for smart contracts”. Combining these two factors will pull many more developers and partners to the platform, continuing the flow of interest.
Another partnership in Indonesia
Zilliqa has an impressive list of partners. They include Bitcoin Suisse, DHVC, FBG, 1Kx, Talenta, 8Decimal, and Metachain among others. However, it doesn’t end there as more are yet to be revealed. According to the team, incoming partners will be revealed at the upcoming meet-up in Singapore on May 23, 2018.
But even before that, it has been reported that Zilliqa will be partnering Anquan in Singapore to help build blockchain applications on behalf of BNI Bank. The blockchain apps will be used in remittances and trade finance.
According to Max Kantelia, Zilliqa’s co-founder, “Anquan’s private, permissioned blockchain technology is powered by Zilliqa, one of the world’s highest throughput blockchain protocols. The Anquan blockchain technology can process thousands of transactions per second and is secured by hardware-rooted security, which enables unprecedented levels of safety and privacy control.”
Zilliqa is yet to launch its mainnet but is already powering other blockchain projects that are designed to solve real-world issues. At this rate, the feeling is that it’ll take only one more major partnership to make a breakthrough. With sharding and Scilla spearheading development, it is just a matter of time.
ZIL market and price
Zilliqa has performed well in the market since it began trading. On April 18th, ZIL traded at $0.0660 against the USD. Today, it’s trading at $0.1368 per token, which represents a price growth of 107% over the last 30 days. If you spread that to 90 days, its value has increased by a similar margin, slightly higher at 115%.
This is despite the current downtrend that sees its value dip by -21% over the last 7 days and -5% in the last 24 hours. Its current market cap is $9996 million, slightly under the $1 billion cap it reached amid a super run at the beginning of May. It’s expected that the current market decline will reverse in due course. When that happens, with new partners on board, ZIL could rally to break into the top 10 by market capitalization.