Zilliqa (ZIL) is a blockchain platform recognized for its innovative approach to scalability and high throughput. Since its launch in 2017, Zilliqa has been tackling the scalability challenge that has long limited many blockchain networks. By implementing sharding—a method that divides the network into smaller groups (shards) to process transactions simultaneously—Zilliqa offers a highly scalable and efficient infrastructure.
Key Features of Zilliqa
1. Sharding Technology
Zilliqa’s sharding allows the network to process multiple transactions in parallel, improving throughput as the network grows.
2. High Throughput and Scalability
With its ability to handle thousands of transactions per second, Zilliqa is suited for decentralized finance (DeFi), gaming, and other high-demand applications.
3. Secure Smart Contracts
Zilliqa utilizes Scilla (Smart Contract Intermediate-Level Language), a smart contract programming language designed for safety and efficiency, reducing vulnerabilities in decentralized applications (dApps).
4. Eco-Friendly Consensus Mechanism
The platform employs a hybrid consensus mechanism combining proof-of-work (PoW) for identity verification and practical Byzantine fault tolerance (pBFT) for transaction finalization, offering security with reduced energy consumption.
5. Real-World Use Cases
Zilliqa is used across industries, including digital advertising, financial services, and non-fungible tokens (NFTs), demonstrating its versatility and reliability.
Zilliqa’s Market Performance
As of December 9, 2024, Zilliqa (ZIL) is trading at approximately $0.032 per token, with a 7.7% decrease from its previous close. The intraday high was $0.035, and the low was $0.031. Zilliqa has a market capitalization of $674.5 million, ranking it #147 among cryptocurrencies, with a circulating supply of approximately 19.25 billion ZIL tokens.
The all-time high for Zilliqa was $0.2564, recorded on May 6, 2021, marking a significant decline of about 87% from that peak.
The ZIL Token
ZIL, the native token of Zilliqa, is integral to the ecosystem. It is used for paying transaction fees, staking, and incentivizing participants. ZIL is available for trading on numerous cryptocurrency exchanges, reflecting its wide adoption.
Future Outlook
Zilliqa continues to expand its ecosystem through staking, governance mechanisms, and partnerships with enterprises. Its innovative technology and commitment to scalability and security make it a strong contender in the blockchain industry.

Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, and investments carry significant risk. Always conduct thorough research and consult with a financial advisor before making investment decisions.

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Zilliqa Network Restored After Several Attempts Post Multiple Outages

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Nevertheless, the network is fully operational again as of May 10th.

The Zilliqa version 9.3.4 network upgrade was rolled out on May 9th.

Multiple recent operational outages on the Zilliqa network have affected mainnet block production. Nevertheless, the network is fully operational again as of May 10th, and the reason for this is still being investigated.

After brief interruptions to block production on mainnet, Zilliqa informed the community that the network was back up. Once the network is up and running again, the infrastructure team will keep an eye on its stability as they try to figure out what caused the recent outages.

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After seeing a decrease in block production on May 8, the Zilliqa network technical team has been diligently working for over 48 hours to stop any more interruptions

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