|Price||$0.005497 (76 sats)|
|24H Mkt. Cap ($MM)||$65.91 MM|
|24H Volume ($MM)||$12.10 MM|
|Circ. Supply||11,990,995,310 ZIL (57.10%)|
|Total Supply||21,000,000,000 ZIL|
|All-time High USD||$0.18 (10 May 18)|
|All-time High BTC||2,039 sats (10 May 18)|
Zilliqa (or the "Project") is a public blockchain platform that is designed to scale financial transactions. Zilliqa utilizes sharding technology which enables increased transaction rates as the network expands. The team states the latest experimental results demonstrate a throughput of more than 2,800 transactions per second. In addition to scalability, Zilliqa aims to provide a secure and efficient smart contract layer to enable security-by-design smart contract programming and verification.
Zilliqa's mission is to create a network that is scalable and functional, while staying true to blockchain security principles.
|Token Type||ERC-20 at TGE|
|Private Sale Allocation||27.3% of Total Supply|
|Private Token Sale Date||1 Oct 2017 to 20 Dec 2017|
|Private Token Sale Price||$0.0032|
|Amount Raised in Private Sale||~$18.3MM (43,942 ETH)|
|Public Sale Allocation||2.7% of Total Supply|
|Public Token Sale Date||27 Dec 2017 to 4 Jan 2018|
|Public Token Sale Price||$0.0038|
|Amount Raised in Public Sale||~$2.2MM (4,947 ETH)|
|Circulating Supply||12,013,965,609 (41.7%)|
The Zilliqa team lists its use of sales proceeds as the following:
Zilliqa holds its funds in cold storage with multi-signature wallets. The keys are held by 3 different persons, whose identity the team chose not to disclose for security purposes. 2 out of 3 signatures are required to unlock the multi-sig wallet.
The following chart represents the number and breakdown of all ZIL tokens that are to be released into circulation on a monthly basis.
Note: It is estimated that the remaining tokens allocated to mining will continue to be released till 2040. However this rate can change as the number of Guard Nodes decrease.
ZIL is the core utility token of the Zilliqa network. A few examples of the use cases of the ZIL token include:
Zilliqa has been on time for most communicated milestones. The Project communicates with the community via biweekly project updates. All blog updates can be found here.
|PLANNED DATE||MILESTONE||ACTUAL DATE||TIMING||COMMENTS|
|2017: Q3||Technical Whitepaper released||2017: Q3||On time||N/A|
|2018: Q1||Scilla design document||2018: Q1||On time||Github|
|2018: Q1||Zilliqa source code released||2018: Q1||On time||Github|
|2019: Q1||Bootstrap Phase ends||2019: Q2||Late||Medium|
|2018: Q2||Testnet v1.0 release: Red Prawn||2018: Q2||On time||Medium|
|2018: Q2||Testnet v2.0 release: D24||2018: Q2||On time||Medium|
|2018: Q4||Testnet v3.0 release: Mao Shan Wang||2018: Q4||On time||Medium|
|2018: Q4||Mainnet launch||2019: Q1||Late||Medium|
|2019: Q2||Token Swap ends||N/A||N/A||N/A|
|2019: Q3||Zilliqa Core Protocol enhancements||2019: Q3||N/A||On time|
|2019: Q3||Core protocol refactoring and Scilla enhancements||2019: Q3||N/A||On time|
|2019: Q4||Support for higher-level languages||N/A||N/A||N/A|
The Project lists 3 verticals in which they pursue constantly:
Gaming (with Krypton)
The ZIL token is listed on more than 40 exchanges, according to CoinMarketCap. Core crypto trading pairs include ZIL/BTC, ZIL/USDT, and ZIL/ETH. Core fiat trading pairs include ZIL/KRW and ZIL/USD. Below is the breakdown of ZIL's volume by its top trading pairs.
Zilliqa has 17 public repositories. The team decided not to share the private repositories at this time.
Zilliqa is a high-throughput public blockchain platform - designed to scale to thousands of transactions per second.
Scilla - A Smart Contract Intermediate Level Language
Nucleus Wallet is a free, open-source, Zilliqa Test Net Wallet.
RPC Server for Zilliqa
Zilliqa's network consists of several group of nodes, and each of them is called a shard. A special shard among these is referred to as Directory Service ("DS") committee. The DS committee acts as a supervisory shard and helps in the formation of shards and aggregate transaction validation results from each shard among others.
Zilliqa leverages on the shards for parallel processing of transactions. Each shard and the DS committee run an optimized pBFT for consensus on valid transactions. In pBFT, there is deterministic finality of blocks, unlike the probabilistic finality in Nakamoto consensus (in BTC, ETH). Therefore, there is no need for several block confirmation, the latest state of the latest block is the "truth" of the chain.
There are two blockchains in Zilliqa's architecture: the DS blockchain and TX blockchain. The DS blockchain stores the identities of the nodes in the network, while the TX blockchain stores information on the transactions validated by the network.
Time for each blockchain epoch are:
Zilliqa uses an account-based model, similar to Ethereum's. The network currently supports account-to-account and account-to-contract transactions. Batch transactions will be supported in later versions.
There are 3 different types of transactions in the Zilliqa network:
Transactions are allocated to each shard based on the last few bits of the sender's and the recipient's addresses. Hence:
All Type I and most Type II transactions are handled within a shard and
Some Type II transactions and all Type III transactions that require cross-shard communications are handled by the DS Committee.
The transactions made in point 2 as stated above are only processed after shards have finished processing the transactions in point 1. This eliminates the case in which conflicting transactions get handled in parallel.
There are 5 types of nodes on the Zilliqa network:
MB4 and SD4 are for the Type II and Type III cross-shard transactions as discussed earlier, and they will be handled and processed by the DS committee. After MB4 and SD4, all MBs and SDs will be aggregated into FB and FSD respectively.
Zilliqa has its base unit, Zil. However, Zilliqa supports up to 12 decimal placing of its base unit.
|1 Zil||1 Zil|
|0.000001 Zil||1 Li|
|0.00000000001 Zil||1 Qa|
The gas accounting in Zilliqa has the same format as that of Ethereum. There is a gas limit that is set based on the complexity of the computation involved in processing a transaction, and there is a gas price (in the denomination Li) that is set by the free market.
The initial gas price will be set at 1,000 Li at the bootstrap phase. A simple account-to-account transaction costs 1,000 Li as well.
Zilliqa Research created a domain-specific functional programming language called Scilla to power its high throughput smart contract platform safely. Scilla, short for Smart Contract Intermediate Level Language, is designed as a principled language with smart contract safety in mind.
Scilla imposes a structure on smart contracts that will make applications running on Zilliqa less vulnerable to attacks by eliminating certain known vulnerabilities directly at the language-level. Furthermore, the principled structure of Scilla will make applications inherently more secure.
A more detailed explanation of Scilla can be found here.
Zilliqa uses JSON-RPC protocol to broadcast transactions in the network. Sending of ZILs and deploying/calling of contracts are all done via JSON-RPC methods. Several SDKs in different programming languages are made available for developers to choose from in order to ease their dApp development process.
On community building, the team states that they "believe in information exchange & providing regular updates, proactive communication on roadblocks and opportunities, timely responses to all possible queries and urgent issues, as well as collaborative problem-solving." Moving forward, the team looks to further engaging both its technical and non-technical community in creative and educational ways, focusing heavily on industry awareness and general blockchain knowledge.
The team cites education as the most important community interaction. As part of this, Zilliqa organised the Blockchain A-Z Workshop at King's College London (in collaboration with the KCL Blockchain Society). Additionally, Zilliqa was recently a partner of the Future of Blockchain hackathon, educating student developers from Cambridge, Oxford, Imperial, LSE, UCL, and KCL.
Zilliqa also regularly engage its developer and miner communities via its Ecosystem Grant programme. As of writing, Zilliqa has engaged 40 different teams from 19 different countries and the team states they look to expanding this engagement with the help of a new streaming system that further streamlines the grant application and development process. The team also recently launched the ZILHive Accelerator programme in partnership with LongHash Incubator to incubate teams building on top of Zilliqa platform.
Zilliqa competes with current smart contract processing platforms, such as Ethereum, EOS, Hashgraph, and NEO. The team provides the following comments regarding each of these competing projects:
|Ethereum||Achieve scalability by implementing state sharding||The Validator Manager Contract (“VMC”) might become a single point of failurePhase 1 of Ethereum 2.0 does not provide finality. Phase 1 of Ethereum 2.0 does not involve cross-shard communication||Zilliqa currently utilizes network sharding to achieve scalability, but will implement state sharding in the future. Zilliqa does not rely any central entity or contractZilliqa provides finality to the state through its PBFT Protocol.|
|EOS||Achieve scalability using dPoS consensus mechanism||The small number of delegates are relatively easy to pin point and brings security risksHowever increasing the number of delegates will also increase latency, thus throughput will dropdPoS does not guarantee finality||Zilliqa's pBFT offers finality. The consensus in Zilliqa is run in parallel within a set of around 600 nodes, whose size is large enough to make centralisation risk low|
|Hashgraph||Achieve security and scalability by abandoning blockchain and using a gossip protocol instead||Hashgraph is currently a private ledger, it has yet to come up with technical details for its deployment as a public ledger||Zilliqa has already utilized a hybrid mode with pBFT for consensus and PoW for preventing sybril attacks|
|NEO||NEO uses dBFT consensus to achieve scalability||If the number of bookkeeping nodes is large, the collateral locks away liquidity from the marketIf the number of bookkeeping nodes is small, then it brings centralization risks||Zilliqa uses standard (practical) BFT protocol and requires the protocol be run with a sufficiently large number of nodes. The nodes however are not required to put up collateral and hence the market liquidity is not affected. Sharding technology enables the throughput to increase linearly with the number of nodes|