Zilliqa Mainnet Launch Is Going To Be One Of The Most Important Events This First Quarter
Zilliqa (ZIL) is going to be launching its mainnet as soon as the end of this month. This could be one of the most important events in the cryptocurrency market during this first quarter. Zilliqa has just released the last network progress update before the launch of its mainnet, which will take place on January 31st.
The mainnet launch is going to happen the first year after the token generation event of ZIL on top of the Ethereum network. This also represents a whole year in which the company has been working without stopping in order to create the Zilliqa network and project. Now, the team behind Zilliqa is currently finishing the last details before launching its mainnet. Indeed, all the aspects of the network have been already tested several times.
This is one of the most interesting projects currently available on the cryptocurrency market. They have implemented sharding in mining that was able to scale as more miners join the network. The team was able to show that they are able to process 2,828 transactions per second using just 6 shards.
The project uses a new programming language known as Scilla that was designed to avoid vulnerabilities with Ethereum smart contracts. Scilla is also known as Smart Contract Intermediate-Level Language, which was developed by Zilliqa.
Zilliqa captured the attention of individuals and investors in the market but then it went under the radar. 2018 was not a good year for virtual currencies in general, but at the beginning, Zilliqa was considered one of the coins with the highest potential for the future.
As mentioned before, at the end of January the mainnet will be launched. The team will be bootstrapping the mainnet carefully so as to mitigate attacks when hash power is low. This Bootstrap phase will allow miners to get rewards but there will be no transactions processed. This phase will end as soon a set amount of hashing power is achieved in the network.
There will be several exchanges and platforms supporting the new token swap between the first and the second quarter. Users holding ZIL coins will have several months available to swap their coins.
At the time of writing, Zilliqa has a market capitalization of $183 million and each coin can be purchased for $0.0222, according to CoinMarketCap. In terms of ETH, its value operated more stably than in BTC or fiat terms.
Back in May 2018, Zilliqa was traded close to $0.20152 but it dropped down to $0.013 in December 2018.