Telling Stories about Cryptocurrencies in KAiREX; Zilliqa(ZIL)
Hello,
Like the last time we posted, we came to here with the story of Zilliqa( ZIL ) listed on KAiREX.
Ziliiqa is a project that started to solve the scalability problems that many blockchain projects currently have.
Let’s see more detail information of ZIL!
■ Q&A
Question 1.Please let us have brief introduction about Zilliqa, ZIL.
ZIL is a project based on Ethereum, which tries to solve problems that Ethereum has. ZIL is a new blockchain platform that is designed to scale in transaction rate. As the number of miners in ZIL increases, its transaction rates are expected to increase as well. The mission of ZIL project as follows : “Bring the Decentralization Movement to Everybody.”
Question 2. What problems does ZIL try to solve?
According to the white paper of ZIL, existing cryptocurrencies or smart contract platforms have “scalability” problems and ZIL attempts to solve these scalability problems. Scalability means the number of transactions to be proceed per a second. Of course, the transaction speed will be retarded as the number of transactions grows. At Ethereum’s present network size of 30,000 miners, ZIL would expect to process about a thousand times the transaction rates of Ethereum. ZIL network claims that they use “sharding” technology to improve scalability.
Question 3. Then, what is “sharding” technology?
Sharding is the cornerstone of ZIL network design and ZIL team has been under research and development for over 2 years. It is dividing the mining network into smaller consensus groups called shards. Technically, network consists of groups of shards, and shards consists of groups of nods. Each shard is capable of processing transactions in parallel. This way, subsets of transactions can be processed in parallel, and significantly boost the transaction throughput. The ZIL team proposed the theory of sharding in an academic paper in 2015 and since then the protocol has been under research, refinement, and active development.
Question 4. What is DApp?
It seems that ZIL team attempts to penetrate into gaming, entertainment, digital advertising, and payment industry using DApp. According to the roadmap on ZIL website, DApp is supposed to be launched among Q4 of 2018. Please check the URL as follow to learn more about DApp : https://zilliqa.com/about-us.html
Question 5. It seems ZIL team draws attention for its members.
ZIL team has been initiated by a team of renowned entrepreneurs, scientists, and engineers with strong expertise in cybersecurity and system. Most of the members have a PhD in computer science or engineering. Please check the URL as follows to learn more about ZIL team member : https://zilliqa.com/about-us.html . According to an recent article, Evan Cheng, one of the advisor of ZIL team, has moved to the position of director of engineering, blockchain of Facebook.
Have you got a better understanding of ZIL? If you have any questions, please feel free to contact us.
Next, we will look at the kaicoin( KAI ) information.
