What does Zilliqa do?
Zilliqa is a blockchain platform aimed at addressing scalability concerns surrounding Bitcoin and other blockchain-related concepts. By using native sharding, Zilliqa has been able to substantially increase transaction processing throughput. Sharding separates network nodes in a various groups to process different sets of transactions, relieving nodes from having to process all transactions in the system at the same time. Without compromising security of the network too much, Zilliqa’s native sharding has the potential to process thousands of transactions per second–faster than Visa and Mastercard. Their software has only been tested on smaller testnets, so time will tell if native sharding can allow for scalable and sufficiently secure blockchain.
(For those interested in the technical aspect: Zilliqa’s white paper)
Who are the developers?
Dong has a PhD in CS from National University of Singapore and is a computer security expert, who has specialized in the developing secure systems.
Saxena has a PhD in CS from UC Berkeley, and co-authored A Secure Sharding Protocol For Open Blockchains.
Also a co-author alongside Saxena for the sharding paper, Luu founded KyberNetwork, which is a decentralized exchange.
Total supply = 21 billion
Distributed in ICO = 12.5 billion
Based on Proof-of-Work
Allocation of tokens from ICO
40% for miner rewards
30% to developer team
30% to supporters of contribution phase
How to invest
ICO begins December 27th at 5 pm (UTC +8) on Bitcoin Suisse only.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in ZIL over the next 72 hours.