Zilliqa (ZIL)is a high-throughput, public and permissionless blockchain that can complete thousands of transactions per second. Using a Layer-2 scaling solution, blockchain mainly aims to solve the scaling and speed problem.
Capable of processing up to 2,500 to 10,000 transactions per second, Zilliqa has easily become one of the most popular blockchain networks. While there are many decentralized applications installed on the platform, staking and farming is allowed since October 2020.
In addition, the blockchain, whose tests started in June 2017, was officially opened as a testnet in March 2018 and launched its mainnet in June 2019. Zilliqa’s native service token, ZIL, is used to process transactions and execute smart contracts within the network.
In addition to all these features, the blockchain, which was designed as a “smart contract”, also competed with Ethereum. However, as the competition increased, interest in Zilliqa began to fade.
Latest Developments in Zilliqa
Smart contract platform Zilliqa has managed to become one of the most talked about cryptocurrencies in the last few days after an important announcement. Zilliqa announced her debut in the trillion-dollar metaverse while promoting Metapolis.
Zilliqa, metapolisHe calls it the “metaverse for all” project. It defines a Metapolis (MaaS) installation as a service that will provide customers with a blank canvas to build their virtual universe as they wish.
Metapolis will provide users with the technology and infrastructure needed to create and maintain their own metaversions. Zilliqa head of communications, Aparna Narayanan, said the following while explaining Metapolis:
“Metapolis will allow conceptually rich and custom-designed domes as part of cities that can house brands, artists, concepts, games, e-shops… It will offer a new layer of interaction for both the physical and digital worlds.”
Prior to the launch of Metapolis, Zilliqa was chosen as the blockchain of choice by some of the biggest brands in the esports industry. On March 23, Zilliqa announced that Ninjas is partnering with Pajamas, RRQ, and MAD Lions.
What to Expect in Zilliqa
The most anticipated development by the Zilliqa community right now is Metapolis, Zilliqa’s metaverse offering as a service powered by the blockchain. Metapolis is expected to be activated on Saturday, April 2nd. Metapolis will debut with a VIP event scheduled for Saturday in Miami.
Zilliqa’s decentralized ecosystem was also on the rise. Avely Finance, a liquid staking protocol built on the Zilliqa blockchain, is set to debut in the coming weeks. Avely’s testnet is currently live and development of its mobile app, which will be available at the protocol’s launch, is ongoing.
Price Updates
Zilliqa has officially crushed the rest of the cryptocurrency market and has managed to regain its popularity in the past few days. Zilliqa (ZIL) gained more than 370% as other cryptoassets posted double-digit gains last week.
Before the price surge, the ZIL was at a low of $0.047 and then reached a 90-day high of $0.2281. After a 370% price increase, Zilliqa is losing momentum but has started to lose value after being able to stay on the rise in the last 24 hours while other cryptos are falling.
Zilliqa’s sudden price increase has made the project the 53rd largest cryptocurrency by market capitalization. ZIL is currently trading at $0.19434, which means it has a market cap of $2.45 billion thanks to a circulating supply of 12.59 Billion ZILs.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.