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What is Zilliqa?
Zilliqa is a decentralised blockchain that allows for scalable, secure and low-cost transactions. The ZIL token has been trading on various exchanges since October 2017. There are no transaction fees or scaling limitations for the network which scales with demand - meaning it can process about 24,000 transactions per second in theory (although this would require some updates to its protocol). It is also a public blockchain platform that allows developers to build smart contracts and DApps on top of it; The fundamental difference is Zilliqa uses sharding.
Singapore-based project Zilliqa was born out from a research paper at the National University of Singapore (NUS). In 2016, Prateek Saxena co-wrote a research paper with Loi Luu exploring the concept of sharding in the blockchain.
A key feature of Zilliqa’s design is sharding where every node processes only a small fraction of all available data at any time. This means each node stores less data and requires much fewer resources to be able to reach consensus over the shared state as well as apply new blocks from other nodes. When one node fails, there will still be many others acting in parallel to continue the operation.
The Zilliqa project raised a very successful ICO in December 2017, selling $20 million worth of tokens for about 60 cents per token. The company’s team has extensive experience with research and entrepreneurship on large distributed systems and are based out of Singapore. It is currently trading at around $0.28 (with an all-time high price of just less than one dollar) which makes this coin potentially profitable given its potential as a long-term investment vehicle that will power future decentralised applications - or DApps - such as those from companies like Facebook, Amazon Microsoft, Alibaba etc., who have already expressed interest in developing their own blockchain projects using ZILs technology and expertise.
How to Buy Zilliqa?
If you are interested in buying Zilliqa, this article will walk you through the steps to get started. We’ll discuss where to buy it, how to set up a wallet, and more.
The easiest way to purchase ZIL is through an exchange like Binance or Kucoin. However, if you prefer to use fiat currency (e.g., USD) then CoinSwitch is another option for buying Bitcoin with which you can trade via other currencies - including Ethereum and Ripple’s XRP coin - in order to obtain ZIL tokens directly from them instead than using any third party services such as exchanges. You should be aware though that direct purchase may be limited to a small amount of ZIL coins.
How To Set Up A Wallet?
If you want to store your Zilliqa tokens securely, then it’s very important that you set up a wallet where you can transfer them after purchasing some.
There are many supported wallets for Zilliqa including Ledger , Moonlet, Trust Wallet, Zillet, Zilpay Wallet, Atomic Wallet, Infinito Wallet Math wallet and more. You can also store your Zillqa tokens on Crypto.com.
Can I buy Zilliqa on Crypto com?
Yes. Crypto.com added Zilliqa on to their exchange on the 2nd December 2020.
Can you buy Zilliqa on Coinbase?
No, currently you cannot buy Zillqa on Coinbase .
Buy Zilliqa with Changelly
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Disclaimer: Cryptotravellers or the author are not a financial advisor and the information in this article is not financial advice and should not be construed in this way.