A blockchain platform called Zilliqa, which was created to solve the issues of scalability, efficiency and security that plague many of the existing blockchains in the market right now has recently upgraded its public testnet and introduced a new computing language.
The new language that will be used is Scilla and it is being developed to create secure and scalable smart contracts apps that will really work better than other platforms. The Zilliqa testnet v2.0, as it is being called by the company, has introduced a new level of stability and security to the network and will allow the users to join the testnet network and to start mining test transactions.
At the current moment, the public release of the Zilliqa main net is scheduled for the third quarter of 2018 if everything goes according to the plans of the company.
What Is Zilliqa?
Have you never heard of Zilliqa and you are wondering why you should care about this company? Don’t worry, we explain. The technology that powers Zilliqa was originally proposed in an academic paper at the National University of Singapore in 2015. Since then, the team that created the proposition has been working on it.
The main goal of this project is the creation of a better blockchain infrastructure that can be scalable, secure and efficient even when compared to the kings of the market, Bitcoin and Ethereum.
Zilliqa has an original take to solve the problem of the scalability in the market. The company has created an infrastructure based on blockchain sharding that can make tens of thousands of transactions per second if enough number of computers is on the network and, therefore, has the potential to topple the other top cryptos.
This company has also looked at the security and the flaws of smart contracts and intends to solve the present issues that remain on this technology. Smart contracts are less safe than most companies affirm, which means that they can be hacked. Events like the DAO hack and Parity bug are the main proof that the smart contracts are not 100% trustworthy, even if they are mostly a good technology.
To solve this complex issue, Zilliqa has decided to create a new smart contracts programming language called Scilla. This language will be used to prevent security breaches in the future and to give more options and security for the developers of smart contracts. While it is too early to say if it will work, it certainly looks like the company is making an effort.
Zilliqa’s ICO happened in January 2018 and the company reached a market capitalization of $1 billion USD, which made it one of the most successful projects in the blockchain market until now.
Zilliqa’s Testnet 2.0
The first version of the testnet was released in March 2018 and its codename was Red Prawn. It was the first implementation of blockchain sharding in a public testnet.
Now, the company has released the Testnet v2.0, which has the codename D24, is a major upgrade on the technology was being used by the company so far and represents an important milestone for the public launch of the main net. In this new version, the company will introduce an Integrated Developer Environment (IDE) and Scilla support. There are also stability and security upgrades.
Some of the specific features of the second version of the Zilliqa’s testnet are comprehensive documentation of Scilla, the Scilla Blockchain IDE, which can be used to write smart contracts, upload them into the blockchain and to send and receive messages to and from the smart contracts.
Other relevant features are the Scilla Interpreter, which can be used to write Scilla programs and upload the code on the testnet and updated version of the company’s wallet.
With the release of these new tools, the developers can finally start to test their apps on the blockchain before the mainnet is launched. Users can also start nodes for the first time.
The CEO of Zilliqa, Xinshu Dong, has stated that the company is focused on solving big problems and building a great infrastructure. According to him, in the next three months the platform will see its launch and they expect it to be a complete success.
The Zilliqa Ecosystem Grant Program was recently announced with the objective of incentivizing development on the platform. The idea is to use give $5 million USD for teams who are able to build apps. According to the company, the projects would also receive full technical and marketing support from the company.