X

Feedback + Support

Need Assistance? Notice something missing or broken? Let us know!

Press esc to dismiss

project icon for zilliqa

Zilliqa

ZIL
$0.003689
-0.29%
Negative delta icon

Zilliqa is a smart contract platform that intends to address speed and scaling issues by increasing transaction capacity through native network sharding.

Overview

Project Stage

Live status icon

Amount Raised

$22,000,000.00

Market Cap

$38MM

Sector

Smart Contract Platform

Blockchain

Native token icon

Zilliqa

Funding Source

Token Sale

Project Profile

A key technical challenge for many blockchains is how to support an increasing number and complexity of transactions as more users begin using the network. Zilliqa is one of the first projects to propose a concrete design to sharding, an innovative blockchain scaling technique that allows blockchain networks to scale by breaking network nodes into subgroups, or shards. Zilliqa intends to be the first project to implement sharding on a full public blockchain and estimates that, with an increased network size of 10,000 nodes, the Zilliqa blockchain will enable a network speed that matches the average transaction rate of VISA and MasterCard with the advantage of lower fees.

The Zilliqa team’s qualifications reflect a unique academic background: many on the team are former or current doctoral students and professors at the National University of Singapore’s School of Computing, Princeton, Berkeley, and France’s Inria. Zilliqa was founded by Xinshu Dong and the projects advisors notably include Loi Luu, Kyber Network founder and an original architect of the sharding concept.

Protocol Details

Shards work in parallel to process transactions and reach consensus more efficiently. The sharding concept employed by Zilliqa was first proposed in an academic paper A Secure Sharding Protocol For Open Blockchains. Zilliqa’s Chief Scientific Officer, Prateek Saxenan, is a co-author. Sharding works by dividing different nodes of a network into subgroups, or shards. Shards then work in parallel to process transactions and reach consensus. Eventually, such transactions are merged into a new block and processed on the blockchain. Sharding reduces quantity of data each node must store, the number of transactions each node must process, and the volume of data to be processed across the network. The Zilliqa team estimates that sharding will allow the Zilliqa blockchain to reach 8,000 to 10,000 transactions per second.

Zilliqa’s consensus model utilizes Practical Byzantine Fault Tolerance (PBFT), a consensus mechanism that assumes a portion of the nodes in the network will cause errors or be actively malicious. Hyperledger, Stellar, and Ripple all use variations of PBFT. Unlike many proof-of-work and proof-of-stake architectures, in which one validator confirms a bulk of transactions and other validators confirm it, PBFT involves every node independently verifying transactions and then sharing their results with each other. Consensus is reached based on the total decisions submitted by validators.

With Zilliqa’s model in particular, consensus is divided into epochs, which last approximately 3000 blocks. At the start of the epoch, a set of nodes are elevated to serve on the Directory Services (DS) Committee, which is responsible for sharding the network and assigning miners to the shards. During the epoch, each shard generates ‘micro blocks’ and submit those to the DS Committee, which aggregates them into a transaction block and distributes block rewards. At the end of each epoch, one member of the DC committee is swapped out and the entire network is shuffled.

Zilliqa smart contract platform differs from Ethereum’s in its focus on data-intensive computation, which leverages Zilliqa’s sharded structure. In Ethereum’s architecture, contracts are processed sequentially, each node confirming the same computation. In Zilliqa’s sharded architecture, computation can be spread throughout the network and processed simultaneously. To enable this and enjoy the scalability to makes possible, the language will not be Turing-complete, and instead may implement formal verification that enables high-level smart contracts. This focus means that Zilliqa is aiming at highly scalable computations, such as data mining, machine learning, and financial modeling.

Zilliqa Mining

Zilliqa uses proof of work based on Ethash (Ethereum’s hash algorithm) as part of its overall consensus process, though not in the same way that bitcoin or other primarily PoW protocols do. Instead, proof of work is used to establish node identity during epochs. First, a round of PoW establishes who can join the DS committee (each epoch one member is kicked off and replaced), and then another round is used to allocate eligible nodes into different shards. Once the committee and shards have been performed, consensus resembles a practical byzantine fault tolerant process until the next DS epoch. Thus, the network only enters proof of work periodically, approximately 1-2 minutes every 2-3 hour cycle. As of late 2019, GPUs and CPUs could mine Zil but Ethash ASICs could not; many miners simply mined Zilliqa during its proof of work period and switched to Ethereum at other times.

Block rewards in Zil are distributed among nodes as follows: 25% of rewards are distributed evenly to all validating nodes in the network. 70% are distributed based on node activity during the DS consensus. 5% are distributed to lookup and seed nodes, which play a special role in maintaining the sharded state of the network.

Asset Details

Zilliqa tokens are called, “Zillings,” or ZILs for short. Users can spend Zillings to run transactions and smart contracts on the Zilliqa blockchain, similar to how Ether functions on Ethereum. Validators’ contributions to network security are compensated with ZILs.

Zilliqa Supply Schedule

Zilliqa's maximum token supply is 21 billion. Zilliqa had a token sale in 2018 in which it sold 30% of its 21 billion tokens, distributed another 30% to various entities, and withheld 40% for future mining rewards. Of the 30% allocated outside of the token sale:

  • 12% to Zilliqa research (vesting quarterly over 3 years)
  • 10% to Anquan Capital, which developed the core technology and incubated zilliqa (vesting quarterly over 3 years)
  • 5% to the Team (vesting quarterly over 3 years)
  • 3% to agencies and advisors (vesting quarterly over 3 years), with 1% to Bitcoin Suisse with no vesting

Zilliqa has stated it will emit 40% of total ZIL supply over 10 years.

Zildark.png

project icon for zilliqa

Zilliqa

ZIL
$0.003689
-0.29%
Negative delta icon

Zilliqa is a smart contract platform that intends to address speed and scaling issues by increasing transaction capacity through native network sharding.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$38MM
Native token icon

Zilliqa

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$22MM

Smart Contract Platform

Project Profile

A key technical challenge for many blockchains is how to support an increasing number and complexity of transactions as more users begin using the network. Zilliqa is one of the first projects to propose a concrete design to sharding, an innovative blockchain scaling technique that allows blockchain networks to scale by breaking network nodes into subgroups, or shards. Zilliqa intends to be the first project to implement sharding on a full public blockchain and estimates that, with an increased network size of 10,000 nodes, the Zilliqa blockchain will enable a network speed that matches the average transaction rate of VISA and MasterCard with the advantage of lower fees.

The Zilliqa team’s qualifications reflect a unique academic background: many on the team are former or current doctoral students and professors at the National University of Singapore’s School of Computing, Princeton, Berkeley, and France’s Inria. Zilliqa was founded by Xinshu Dong and the projects advisors notably include Loi Luu, Kyber Network founder and an original architect of the sharding concept.

Protocol Details

Shards work in parallel to process transactions and reach consensus more efficiently. The sharding concept employed by Zilliqa was first proposed in an academic paper A Secure Sharding Protocol For Open Blockchains. Zilliqa’s Chief Scientific Officer, Prateek Saxenan, is a co-author. Sharding works by dividing different nodes of a network into subgroups, or shards. Shards then work in parallel to process transactions and reach consensus. Eventually, such transactions are merged into a new block and processed on the blockchain. Sharding reduces quantity of data each node must store, the number of transactions each node must process, and the volume of data to be processed across the network. The Zilliqa team estimates that sharding will allow the Zilliqa blockchain to reach 8,000 to 10,000 transactions per second.

Zilliqa’s consensus model utilizes Practical Byzantine Fault Tolerance (PBFT), a consensus mechanism that assumes a portion of the nodes in the network will cause errors or be actively malicious. Hyperledger, Stellar, and Ripple all use variations of PBFT. Unlike many proof-of-work and proof-of-stake architectures, in which one validator confirms a bulk of transactions and other validators confirm it, PBFT involves every node independently verifying transactions and then sharing their results with each other. Consensus is reached based on the total decisions submitted by validators.

With Zilliqa’s model in particular, consensus is divided into epochs, which last approximately 3000 blocks. At the start of the epoch, a set of nodes are elevated to serve on the Directory Services (DS) Committee, which is responsible for sharding the network and assigning miners to the shards. During the epoch, each shard generates ‘micro blocks’ and submit those to the DS Committee, which aggregates them into a transaction block and distributes block rewards. At the end of each epoch, one member of the DC committee is swapped out and the entire network is shuffled.

Zilliqa smart contract platform differs from Ethereum’s in its focus on data-intensive computation, which leverages Zilliqa’s sharded structure. In Ethereum’s architecture, contracts are processed sequentially, each node confirming the same computation. In Zilliqa’s sharded architecture, computation can be spread throughout the network and processed simultaneously. To enable this and enjoy the scalability to makes possible, the language will not be Turing-complete, and instead may implement formal verification that enables high-level smart contracts. This focus means that Zilliqa is aiming at highly scalable computations, such as data mining, machine learning, and financial modeling.

Zilliqa Mining

Zilliqa uses proof of work based on Ethash (Ethereum’s hash algorithm) as part of its overall consensus process, though not in the same way that bitcoin or other primarily PoW protocols do. Instead, proof of work is used to establish node identity during epochs. First, a round of PoW establishes who can join the DS committee (each epoch one member is kicked off and replaced), and then another round is used to allocate eligible nodes into different shards. Once the committee and shards have been performed, consensus resembles a practical byzantine fault tolerant process until the next DS epoch. Thus, the network only enters proof of work periodically, approximately 1-2 minutes every 2-3 hour cycle. As of late 2019, GPUs and CPUs could mine Zil but Ethash ASICs could not; many miners simply mined Zilliqa during its proof of work period and switched to Ethereum at other times.

Block rewards in Zil are distributed among nodes as follows: 25% of rewards are distributed evenly to all validating nodes in the network. 70% are distributed based on node activity during the DS consensus. 5% are distributed to lookup and seed nodes, which play a special role in maintaining the sharded state of the network.

Asset Details

Zilliqa tokens are called, “Zillings,” or ZILs for short. Users can spend Zillings to run transactions and smart contracts on the Zilliqa blockchain, similar to how Ether functions on Ethereum. Validators’ contributions to network security are compensated with ZILs.

Zilliqa Supply Schedule

Zilliqa's maximum token supply is 21 billion. Zilliqa had a token sale in 2018 in which it sold 30% of its 21 billion tokens, distributed another 30% to various entities, and withheld 40% for future mining rewards. Of the 30% allocated outside of the token sale:

  • 12% to Zilliqa research (vesting quarterly over 3 years)
  • 10% to Anquan Capital, which developed the core technology and incubated zilliqa (vesting quarterly over 3 years)
  • 5% to the Team (vesting quarterly over 3 years)
  • 3% to agencies and advisors (vesting quarterly over 3 years), with 1% to Bitcoin Suisse with no vesting

Zilliqa has stated it will emit 40% of total ZIL supply over 10 years.

Zildark.png

Recent News

PepsiCo report a 28% efficiency improvement in their supply chain during a trial in the Asia Pacific region throughout March; Zilliqa's smart contract platform was used to automate aspects of the supply chain, media and advertising company Mindshare collaborated in the trial

May 6, 2019

Sources:

CoinDesk

Zilliqa launches full smart contract functionality, with formal verification features in development

June 10, 2019

Sources:

CoinDesk
Show projects Article List
Sort icon: direction descending
Profile Updated
1d
Project details updated.
Profile Updated
1d
Project details updated.
Profile Updated
2d
Project details updated.
project icon for tzero
TZEROP
Profile Updated
2d
Project details updated.
Profile Updated
4d
Project details updated.
Profile Updated
4d
Protocol and asset details updated.
project icon for skale
SKALE
Project Added as Signal
4d
SKALE is an Ethereum Layer 2 scalability protocol facilitating the formation and operation of on-demand elastic sidechains.
Project Added as Signal
22d
TrueBit is a distributed marketplace for off-chain computation of resource-intensive smart contracts, verifying proper results using a game theory-based incentive structure rather than cryptographic proofs.
Project Added as Signal
34d
Spacemesh is a cryptocurrency and smart contract platform operating on directed acyclic graph infrastructure and utilizing a Proof-of-Spacetime consensus algorithm that intends to achieve a more equitable distribution of mining rights by decoupling the conferment thereof with access to financial means.
No icon fallback
BZRX
Project Added as Signal
36d
bZx is an Ethereum-based, decentralized cryptoasset lending protocol that facilitates margin trading of ETH and ERC-20 tokens.
Project Added as Signal
39d
Oasis Network is a permissionless, blockchain-based cloud computing platform that aims to improve upon the scalability and privacy of its peers through novel architecture.
Project Added as Signal
51d
FTX is a cryptoasset derivatives exchange, powered by a proprietary liquidation engine and clawback prevention protocol, offering futures, leveraged tokens and an over-the-counter trading portal.
Project Added as Signal
55d
ThunderCore is a permissionless, Turing-complete smart contract platform offering full EVM-compatibility and PaLa, a new variant of Proof-of-Stake consensus, as its distinguishing features.
Project Added as Signal
57d
Santiment is a blockchain data and analytics provider offering content streams, data feeds and analysis, APIs and its own ERC-20 token, SAN.
Project Added as Signal
71d
Nexus Mutual is a blockchain-based, protocol-enabled mutual insurance fund operating on Ethereum and owned entirely by its members, who buy into the fund by purchasing NXM tokens.
Project Added as Signal
100d
Gods Unchained is a decentralized trading card game that uses the ERC-721 non-fungible token standard to establish on-chain ownership of cards to be used in off-chain gameplay.
Project Added as Signal
109d
Synthetix is a decentralized synthetic asset issuance protocol consisting of an Ethereum-based smart contract, an exchange, and a dApp to facilitate smart contract interaction.
project icon for zrx
ZRX
Profile Updated
115d
Update on 0x v3, including protocol fees, staking incentives, and liquidity pooling with Uniswap, Kyber, and Oasis.
No icon fallback
LUNA
Project Added as Signal
123d
Terra is an algorithmically-governed, seigniorage share style stablecoin blockchain platform to which a collection of fiat-pegged tokens and a stabilizing cryptoasset, Luna, are native.
Profile Updated
140d
Stellar Development Foundation burns 55 billion XLM from its reserves, over half of the total supply, and removes the ongoing inflation to current token holders. The SDF had previously earmarked these tokens for community airdrops and ongoing organization funding.
Project Added as Signal
155d
Nervos is a public, PoW-based smart contract platform that utilizes off-chain computation in service of transaction scalability and implements a unique token emissions mechanic that imposes a perpetual cost for on-chain data storage.
Profile Updated
166d
Supply Information added.
project icon for beam
BEAM
Profile Updated
169d
Supply Information added.
project icon for grin
GRIN
Profile Updated
169d
Supply Information added.
Profile Updated
172d
Supply Information added.
Profile Updated
172d
Supply Information added.
project icon for siacoin
SC
Profile Updated
172d
Mining Information added.
project icon for dash
DASH
Profile Updated
173d
Mining and Supply Information added.
Profile Updated
173d
Mining and Supply Information added.
Profile Updated
176d
Mining and Supply information added.
Profile Updated
177d
Mining and Supply Information added.
project icon for kin
KIN
Project Removed as Signal
184d
Kin removed as Signal.
project icon for simple
OST
Project Added as Signal
184d
OST added as Signal.
Profile Updated
199d
Signal profile updated.
Project Added as Signal
212d
Edgeware added as Signal.
Profile Updated
215d
Ethereum Classic profile added.
project icon for steem
STEEM
Profile Updated
226d
Signal profile updated.
Profile Updated
226d
Signal profile updated.
project icon for neo
NEO
Profile Updated
226d
Signal profile updated.
No icon fallback
KLAY
Project Added as Signal
226d
Klaytn added as Signal.
No icon fallback
ALTG
Project Added as Signal
233d
Althea added as Signal.
Profile Updated
239d
Signal profile updated.
No icon fallback
UMA
Project Added as Signal
246d
UMA added as Signal.
No icon fallback
LIBRA
Project Added as Signal
247d
Libra added as Signal.
Project Added as Signal
252d
Chainlink added as Signal.
Profile Updated
258d
Signal profile updated.
Profile Updated
265d
Signal profile updated.
project icon for chia
CHIA
Profile Updated
271d
Signal profile updated.
project icon for bitfinex-leo
LEOTOKEN
Project Added as Signal
277d
Bitfinex LEO added as Signal.
project icon for coda
CODA
Profile Updated
282d
Signal profile updated.
Project Added as Signal
288d
Paxos added as Signal.
project icon for celo
CELO
Project Added as Signal
294d
Celo added as Signal.

You've reached the end of the list

project icon for zilliqa

Zilliqa

ZIL
$0.003689
-0.29%
Negative delta icon

Zilliqa is a smart contract platform that intends to address speed and scaling issues by increasing transaction capacity through native network sharding.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$38MM
Native token icon

Zilliqa

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$22MM

Smart Contract Platform

Project Profile

A key technical challenge for many blockchains is how to support an increasing number and complexity of transactions as more users begin using the network. Zilliqa is one of the first projects to propose a concrete design to sharding, an innovative blockchain scaling technique that allows blockchain networks to scale by breaking network nodes into subgroups, or shards. Zilliqa intends to be the first project to implement sharding on a full public blockchain and estimates that, with an increased network size of 10,000 nodes, the Zilliqa blockchain will enable a network speed that matches the average transaction rate of VISA and MasterCard with the advantage of lower fees.

The Zilliqa team’s qualifications reflect a unique academic background: many on the team are former or current doctoral students and professors at the National University of Singapore’s School of Computing, Princeton, Berkeley, and France’s Inria. Zilliqa was founded by Xinshu Dong and the projects advisors notably include Loi Luu, Kyber Network founder and an original architect of the sharding concept.

Protocol Details

Shards work in parallel to process transactions and reach consensus more efficiently. The sharding concept employed by Zilliqa was first proposed in an academic paper A Secure Sharding Protocol For Open Blockchains. Zilliqa’s Chief Scientific Officer, Prateek Saxenan, is a co-author. Sharding works by dividing different nodes of a network into subgroups, or shards. Shards then work in parallel to process transactions and reach consensus. Eventually, such transactions are merged into a new block and processed on the blockchain. Sharding reduces quantity of data each node must store, the number of transactions each node must process, and the volume of data to be processed across the network. The Zilliqa team estimates that sharding will allow the Zilliqa blockchain to reach 8,000 to 10,000 transactions per second.

Zilliqa’s consensus model utilizes Practical Byzantine Fault Tolerance (PBFT), a consensus mechanism that assumes a portion of the nodes in the network will cause errors or be actively malicious. Hyperledger, Stellar, and Ripple all use variations of PBFT. Unlike many proof-of-work and proof-of-stake architectures, in which one validator confirms a bulk of transactions and other validators confirm it, PBFT involves every node independently verifying transactions and then sharing their results with each other. Consensus is reached based on the total decisions submitted by validators.

With Zilliqa’s model in particular, consensus is divided into epochs, which last approximately 3000 blocks. At the start of the epoch, a set of nodes are elevated to serve on the Directory Services (DS) Committee, which is responsible for sharding the network and assigning miners to the shards. During the epoch, each shard generates ‘micro blocks’ and submit those to the DS Committee, which aggregates them into a transaction block and distributes block rewards. At the end of each epoch, one member of the DC committee is swapped out and the entire network is shuffled.

Zilliqa smart contract platform differs from Ethereum’s in its focus on data-intensive computation, which leverages Zilliqa’s sharded structure. In Ethereum’s architecture, contracts are processed sequentially, each node confirming the same computation. In Zilliqa’s sharded architecture, computation can be spread throughout the network and processed simultaneously. To enable this and enjoy the scalability to makes possible, the language will not be Turing-complete, and instead may implement formal verification that enables high-level smart contracts. This focus means that Zilliqa is aiming at highly scalable computations, such as data mining, machine learning, and financial modeling.

Zilliqa Mining

Zilliqa uses proof of work based on Ethash (Ethereum’s hash algorithm) as part of its overall consensus process, though not in the same way that bitcoin or other primarily PoW protocols do. Instead, proof of work is used to establish node identity during epochs. First, a round of PoW establishes who can join the DS committee (each epoch one member is kicked off and replaced), and then another round is used to allocate eligible nodes into different shards. Once the committee and shards have been performed, consensus resembles a practical byzantine fault tolerant process until the next DS epoch. Thus, the network only enters proof of work periodically, approximately 1-2 minutes every 2-3 hour cycle. As of late 2019, GPUs and CPUs could mine Zil but Ethash ASICs could not; many miners simply mined Zilliqa during its proof of work period and switched to Ethereum at other times.

Block rewards in Zil are distributed among nodes as follows: 25% of rewards are distributed evenly to all validating nodes in the network. 70% are distributed based on node activity during the DS consensus. 5% are distributed to lookup and seed nodes, which play a special role in maintaining the sharded state of the network.

Asset Details

Zilliqa tokens are called, “Zillings,” or ZILs for short. Users can spend Zillings to run transactions and smart contracts on the Zilliqa blockchain, similar to how Ether functions on Ethereum. Validators’ contributions to network security are compensated with ZILs.

Zilliqa Supply Schedule

Zilliqa's maximum token supply is 21 billion. Zilliqa had a token sale in 2018 in which it sold 30% of its 21 billion tokens, distributed another 30% to various entities, and withheld 40% for future mining rewards. Of the 30% allocated outside of the token sale:

  • 12% to Zilliqa research (vesting quarterly over 3 years)
  • 10% to Anquan Capital, which developed the core technology and incubated zilliqa (vesting quarterly over 3 years)
  • 5% to the Team (vesting quarterly over 3 years)
  • 3% to agencies and advisors (vesting quarterly over 3 years), with 1% to Bitcoin Suisse with no vesting

Zilliqa has stated it will emit 40% of total ZIL supply over 10 years.

Zildark.png

Recent News

PepsiCo report a 28% efficiency improvement in their supply chain during a trial in the Asia Pacific region throughout March; Zilliqa's smart contract platform was used to automate aspects of the supply chain, media and advertising company Mindshare collaborated in the trial

May 6, 2019

Sources:

CoinDesk

Zilliqa launches full smart contract functionality, with formal verification features in development

June 10, 2019

Sources:

CoinDesk