Implementation of zkSNARKs Could Be Imminent for Zilliqa (ZIL) and Its New Live Mainnet Status
Following 18 months of intense work, the Zilliqa (ZIL) Mainnet has finally launched. The original aim of the project was to solve the vulnerabilities in the Ethereum network, using Scilla programming language.
As the project evolved, it gained multiple partners, advisers, and a community, reaching around the entire worked. Xinshu Dong, the co-founder and CEO, released a statement to Ethereum World News on his vision, saying,
“Today, we are taking a leap towards our vision of enabling innovative blockchain-powered solutions to real-world problems. With this launch, Zilliqa is now the first public blockchain platform to successful implement sharing, to address one of the biggest challenges to mainstream blockchain adoption – scalability.”
Presently, as reported by Ethereum World News, the features of the mainnet that make it strikingly different from others out there include:
- A Practical Byzantine Fault Tolerance (PDFT) blockchain
- Safe smart contracts through the Scilla programming language
- Low variance in block rewards
Now that the launch has come and gone, the team has a few priorities in mind, the first of which is to secure the network in a way that will adequately defend it against potential attacks.
The network will be launched following a certain number of mined blocks. Optimally, this means that the network launch would occur in March.
— Zilliqa (@zilliqa) January 31, 2019
After this phase, the team aim to make the swapping of tokens from ERC20 to ZIL on the mainnet will be made possible, which should happen by June. Soon after this swap is completed, the ERC20 ZIL tokens will be frozen. The token swap will be supported by:
- Trust Wallet
- Coinbase and Coinbase Custody
- Midas Protocol
- Ledger Companion
One of the possibilities for the features on the mainnet will be the introduction of zkSNARKs. The team for Zilliqa explained how the company will go beyond the use of this feature for privacy, saying,
“Beyond this privacy use case, zkSNARKs are being actively applied in the area of verifiable computations, where, a client performs a computation-heavy task off-the-chain and produces to the miners a “proof of work” that can be verified very efficiently. This specific usage of zkSNARKs can lead to a trustless and secure off-chain computation layer atop Zilliqa.”
The team added, “Furthermore, zkSNARKs can also be used to design succinct blockchains to reduce the storage requirements for lookup and seed nodes and lower sync-up time for new nodes.”