Zilliqa is a blockchain that seeks to incentivize a global, distributed network of computers to run a blockchain platform and improve its scalability and transaction speeds through sharding.
This article is a guide to the Zilliqa network where we will dive deep to understand what the project is all about and how it functions.
We shall also take a look at the project’s native ZIL token, make price predictions for it until 2030, and list exchanges where you can buy and trade the coin, before determining whether it is a credible cryptocurrency investment.
So, without further ado, let us get started.
What is Zilliqa (ZIL)?
Zilliqa (ZIL) is a distributed, public network that is designed from the ground up to tackle the issues of scalability and throughput faced by many prominent blockchains, including Bitcoin (BTC) and Ethereum (ETH).
To achieve the required efficiency, Zilliqa deploys a method called sharding, which improves transaction speed and creates a scalable and secure platform by dividing the protocol into nodes that run separate processes parallel to the main network, similar to Ethereum.
According to its developers, Zilliqa is said to be the first blockchain to run entirely on sharding to become highly scalable. The network’s permissionless nature and high throughput make it an ideal choice for developers to deploy their decentralized applications (DApps) on and execute smart contracts.
With Zilliqa, users also don’t have to face the issue of network congestion or paying higher gas fees.
How Does Zilliqa (ZIL) Work?
Similar to other blockchains, Zilliqa also offers the most common features like smart contracting, transaction settlement, and token issuance. Developers can use its proprietary language, Scilla, to run smart contracts and deploy DApps that offer a wide range of products and services.
However, central to the system is its use of sharding technology to overcome network congestion. Simply put, sharding is the division of a network into multiple node clusters, known as shards, which act as their blockchain and allow nodes to store data, verify transactions, and add new blocks to their respective shard chains.
This means that when a miner is called upon to verify a transaction, they can do so parallel to the main network. That way, each transaction is processed separately from the other, rather than processing them all together in large bundles, which can slow down the blockchain.
What makes Zilliqa more efficient than other blockchains is that with its use of sharding, the larger the network gets, the faster it can process transactions, because the more shards out there, the more transactions that can processed at the same time.
What is the ZIL Token?
ZIL is the native utility token of the Zilliqa blockchain. It can be used as a store of value, a means of exchange, and a reward token for delegating a portion of users’ holdings to provide the protocol with liquidity.
Zilliqa holders who stake some of their holdings will also be able to participate in the governance of the ecosystem, where they will be given the right to vote on growth and development decisions.
ZIL has a maximum supply of 21 billion tokens, from which, 18.97 billion ZIL are currently in circulation. Zilliqa’s market capitalization stands at $628.47 million.
At the time of writing, the token achieved a 24-hour trading volume of $32.18 million.
Zilliqa (ZIL) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
As of press time, ZIL was trading at $0.0345 – up 0.1% in the last 24 hours.
Based on this valuation, Zilliqa is forecasted to trade within a price range of $0.0285 at its lowest and $0.0465 at its highest in 2024. The average price at which ZIL is expected to trade this year is $0.0375.
In 2025, the average trading price for ZIL is estimated to be $0.0495. The cryptocurrency is predicted to trade within a price range of $0.0391 and $0.0599 in the next year.
In 2026, ZIL is expected to hit a yearly low of $0.0488 and a yearly high of $0.0713. The average expected trading price for the token during that year is $0.0600.
By 2027, ZIL could be trading within a price range of $0.0612 at its lowest and $0.0869 at its highest. The average trading price for Zilliqa during that year is estimated to be $0.0740.
In 2028, experts suggest that ZIL could be priced between $0.0785 on the lower end and $0.101 on the upper end. The average trading price for the coin during that year is estimated to be $0.0897.
By 2029, the average trading price for ZIL may reach $0.114. That means the token would be priced within the range of $0.0933 and $0.135 during that year.
By 2030, ZIL is assumed to trade between $0.116 on the lower side and $0.158 on the upper side. The average price for the token during that year is estimated to be $0.137.
Where to Buy Zilliqa (ZIL) Tokens?
Here are the exchanges on which you can buy and trade ZIL tokens:
Is Zilliqa (ZIL) a Credible Cryptocurrency Project?
Zilliqa is a decentralized and highly scalable blockchain that aims to solve the most common issues faced by prominent blockchains, like network congestion and slower processing speeds.
The network achieves this by employing a mechanism called sharding, where the entire blockchain is divided into separate nodes, each of which runs its blockchains parallel to the main network.
Through this method, Zilliqa can process multiple transactions at the same time without congesting the network. Thus improving scalability and transaction throughput.
The innovative cryptocurrency project has a lot of room for growth within the sector, and given the price performance of its native ZIL coin, the future looks bright for Zilliqa if it is adopted widely by the mainstream.
All things considered, Zilliqa is an interesting cryptocurrency project that requires your kind attention. It can be recommended as a long-term investment as it offers an effective solution to the age-old problem of scalability and transaction speed.
As is the case with every cryptocurrency, ZIL coin is also prone to extreme price fluctuations. Therefore, you must do thorough research before making any investment decision.
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