Zilliqa is currently trading at $0.0236, after a price change of 1.83% in the last 24 hours.
Ranked as cryptocurrency #82 by capitalization today, ZIL market cap is valued at $375,121,930. ZIL trading volume reached $93,380,969 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on ZIL coin price prediction page.
What is Zilliqa?
Zilliqa is an open-source blockchain developed for smart contracts with a focus on solving scalability problems. Scaling is achieved by sharding the network into multiple pieces. Each shard processes a set of the network’s transactions, and only selected miners can work on the transaction at a specific time.
Zilliqa also features a smart contract-supporting layer that uses the Scilla programming language. The protocol achieves consensus through both the proof-of-work and Byzantine Fault Tolerant models.
ZIL is the native token powering the Zilliqa protocol. There are 12.53 billion circulating ZIL tokens from a total supply of 15,818,994,609 and a hard cap of 21 billion. ZIL acts as a utility token that holders can use to execute smart contracts and offset transaction fees. The currency also acts as mining rewards for the PoW miners. Zilliqa miners receive block rewards as per the number of valid signatures they have contributed. The objective is to make ZIL rewards a low variant and to enhance their equal distribution.
Zilliqa was introduced by its initial team members, including Prateek Saxena, Xinshu Dong, Yaoqi Jia, and Amrit Kumar, in 2017.