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Published by: 03:47, 31 May 2019

Project Zilliqa. Binance Research Review

The Zilliqa project is a public blockchain platform, which is intended to scalize financial transactions. Zilliqa uses scarring technology that allows you to increase the speed of transactions as the network expands. ZIL is the main service token of the Zilliqa network.

Zilliqa Project Blockchain

The Zilliqa team declares that the last experimental results demonstrate the bandwidth of more than 2,800 transactions per second.

In addition to the scalability of Zilliqa, seeks to ensure a safe and effective level of intelligent contracts to ensure programming and verification of intelligent contracts, taking into account safety requirements. Zilliqa's mission - create a scalable and functional network, remaining the right security principles of the blockcha.

We offer Translation Article Zilliqa (ZIL) - High-ThroughPut Smart Contract Processing Platform

Zilliqa

The main characteristics of the Zilliq network network

  • Two-layer blockchair structure: blockchain directory service ("DS") stores node identifiers on the network, while the transaction blockchain ("TX") stores information about transactions tested by the network.
  • SCILLA: Zilliqa team offered a new language of smart contracts, SCILLA, which is better scaled for applications such as automated auctions, joint economy and financial modeling.
  • Practical Byzantine Saving Resistance (PBFT): The Zilliqa project uses the improved version of PBFT to achieve a more uniform payment for each node, smaller overhead of communication and instantaneous completion of the block to eliminate the need for block confirmation.
Project Zilliqa Zil

The Zilliqa command lists the use of sales revenue as follows:

Zilliqa Zil
  • 4.5% in key partnerships
  • 13.6% for marketing
  • 5% team founders
  • 24.6% for development
  • 4.5% for participation in public and charitable programs
  • 5.5% for compliance, legal and financial
  • 13.6% for cloudy hosting, operations, equipment
  • 15% Anquan Capital, which finances new enterprises, such as Anqlave (safe chips), to support the Zilliqa infrastructure
  • 13.7% for research

Zilliqa project stores its funds in cold cameras with wallets with many signatures provided by Coinbase Custom. Keys are stored in 3 different persons, the personality of which the team decided not to disclose for security purposes. 2 of 3 signatures are needed to unlock multi-subscription wallet.

Zilliqa Tocken Release Schedule

The following graph shows the number and breakdown of all ZIL tokens, which will be issued in the circulation monthly.

Zilliqa Zil
Note. It is assumed that the remaining tokens allocated for mining will be issued until 2040.
However, this speed may vary as the number of security nodes decreases.

ZIL Tocken Review and Use Options

ZIL is the main service token of the Zilliqa network. Here are some examples of using a zil token:

  • POW production stimulus
  • Payment as a gas fee for smart contract execution
  • Tender for the Transaction Commission
road map

Commercial partnership and business development

The project lists 3 verticals for which they constantly follow:

Digital Advertising (with MindShare)

  • Program advertising suffers from fraud with advertising and too much intermediaries who reduce the value that advertisers receive for their money. MindShare uses Zilliqa blockchain to solve these problems in the project Proton.
  • For more information about Project Proton, see here

Financial service (with HG Exchange)

  • Safety token offers ("STO") represent a new way toochenization of securities provided by esoteric assets, such as aircraft park, or, for example, patents and license agreements that are more difficult to securitize with traditional methods. This provides greater flexibility for investors, allowing partial possession at lower costs, making it more accessible to new investors, seeking to enter the space.
  • HG Exchange is a joint venture Maicoin and Zilliqa, in which the first participants in this stock exchange platform are Phillip Securities, Primepartners, Rht Capital and Fundnel. HG Exchange aims to become the first compatible STO platform in Southeast Asia and is currently submitting an application for a financial supervisory system for Financial Instruments Singapore ("MAS").
  • For more information about the exchange of HG, see here

Games (with Crypton)

  • Blockchas provide a useful tool for gamers for various reasons, including a decentralized asset exchange that can be checked for a shortage of virtual objects and collectibles, fast and secure payment networks and the opportunity for developers to properly monetize their creations.
  • The most popular implementation of the technology blockchain for games - with unreal assets. In games, these assets can be anything - from game skins to virtual cards, which are part of a specific game that are reliably little. The authenticity of individual virtual items is guaranteed using smart contracts, such as non-replaceable ERC-721 tokens and a newer reference implementation of ERC-1155 over the Ethereum network.
  • Zilliqa and Krypton are currently working together to create informal templates of tokens and gaming SDK for game studios worldwide to run their games with blockchain on top of the Zilliqa network.
team

Trade data

Liquidity

According to Coinmarketcap, the ZIL token is indicated on more than 40 stock exchanges. Main Cryptovalum Caps include ZIL / BTC, ZIL / USDT and ZIL / ETH. The main fiat shopping pairs include ZIL / KRW and ZIL / USD. Below is a breakdown of ZIL volume by its main trading pairs.

liquidity

Technical Overview

Blockchain and Network

Network Overview

The Zilliqa network consists of several groups of nodes, and each of them is called a fragment. A special fragment among them is referred to as the Directory Service Committee ("DS") . The DS Committee acts as a supervisory segment and helps in the formation of fragments and total results of verification of transactions of each segment among others.

Zilliqa project uses shards for parallel transaction processing. Each Sharper and DS Committee launch optimized PBFT to achieve consensus on valid transactions. In PBFT there is a deterministic endability of blocks, in contrast to probabilistic finality in the consensus dynamo (in BTC, ETH). Therefore, there is no need to confirm multiple blocks, the last state of the last block is "truth" chains.

Blockchas in Zilliqa

The Zilliqa architecture has two block chains: DS block chain and TX block chain. DS Blockchain stores node identifiers on the network, and the TX blockchain stores information about transactions tested by the network.

Architecture Zilliqa

Time for each Blockchard:

  • TX block era are dynamic (1-2 minutes).
  • The era of the DS block is dynamic and depend on the TX epochs (1-2 hours).

Transaction model

Zilliqa project uses a model based on an account similar to Ethereum models. Currently, the network supports transactions between accounts and accounts. Batch transactions will be supported in later versions.

Types of transactions in Zilliqa

The Zilliqa network has 3 different types of transactions:

  • Type I - User Account for User Account Transactions
  • Type II - Simple User Account for Transaction
  • Type III - Sophisticated user account for contract operations

Transactions are distributed for each segment based on the last multiple bits of the sender and recipient addresses.

Hence:

  1. All type i transactions and most type II transactions are processed within the segment and
  2. Some type II transactions and all type III transactions that require integmentation, processed by the DS committee.
Project Zilliqa Zil
Transactions made in paragraph 2, as described above, are processed only after the shards completed the transaction processing in paragraph 1. This eliminates the case when conflicting transactions are processed in parallel.

Types of nodes in Zilliqa

In the Zilliqa network there are 5 types of nodes:

  • In Shada nodes, type I type I and type II inside the fragment of the transaction and submit a micro TX block signed. They receive remuneration depending on the number of signatures produced in this Epoch DS.
  • In DS nodes to handle a micro TX-block assembly represented by fragments. They also process transactions of type II and type III, which are transactions between shards. They are also rewarded depending on the number of signatures produced in this Epoch DS.
  • In the substitution nodes process dispatching operations in the correct fragment and help seed nodes in fetching states and transaction history. They earn 5% of transaction and remuneration fees.
  • In seed nodes, it is helped to send transactions to search for nodes, help new checklists in joining the network, providing the DS block history, and opening the transaction API to the researcher / wallet to send transactions and receive historical transaction data. They share rewards received by search engines.
  • Archival storage extracts historical data, including operations and blocks from seed nodes of every DS era and store them in LeveldB. They also provide historical data for new initial nodes that join.
Zil Transactions
MB4 and SD4 are designed for transactions between type II segments and type III, as discussed earlier, and they will be processed and processed by the DS Committee. After MB4 and SD4, all MB and SD will be combined in FB and FSD, respectively.

Zilliqa accounting unit has its own base unit, ZIL. Nevertheless, Zilliqa supports up to 12 decimal discharges of its base unit.

Accounting Gaza

Gas accounting in Zilliqa has the same format as in Ethereum. There is a gas limit that is established on the basis of the complexity of calculations related to the transaction processing, and there is price of gas (in the Li rating), which is established by the free market.

The initial price of gas will be installed at the level of 1000 liters at the initial boot stage. A simple transaction between accounts is also worth 1000 Li .

Smart Contracts in Zilliqa


Zilliqa Research has created a functional oriented programming language called SCILLA to ensure the safety of its high-bandwidth intelligent contracts. Scilla, shrong Smart Language Intermediate Level Language, is designed as a fundamental language with smart contract security.

SCILLA imposes a structure to smart contracts that will make applications running on Zilliqa less vulnerable to attacks, eliminating some known vulnerabilities directly at the language level. In addition, the scILLA principal will make applications safer.

Zilliqa project uses the JSON-RPC protocol to broadcast transactions in the network. Sending ZIL and deployment / contract calls are performed using JSON-RPC methods. Developers are available multiple SDKs in different programming languages ​​to simplify DAPP development.

Overview and Social Community Strategy

As for the construction of the community, the team states that they "believe in sharing information and providing regular updates, proactive communication on obstacles and opportunities, timely response to all possible requests and emergency issues, as well as joint solving problems". Calculates on further attraction of both the technical and non-technical community, creative and educational, paying special attention to the awareness of the industry and the general knowledge of the blockcha.

The team quotes education as the most important interaction of the community. Within this Zilliqa organized a Blockchain AZ seminar at the Royal College of London (in collaboration with KCL Blockchain Society). In addition, Zilliqa has recently been a partner of Hakaton Future of Blockchain, teaching developers from Cambridge, Oxford, Imperial, LSE, UCL and KCL.

Zilliqa project also regularly attracts community developers and miners through its ECOSYSTEM GRANT program . At the time of writing, Zilliqa attracted 40 different teams from 19 different countries, and the team declares that they hope to expand this interaction with the help of a new streaming system that will simplify the application for the application for grant and the development process.

Zilliqa

Zilliqa competes with modern platforms for processing intelligent contracts, such as Ethereum, EOS, Hashgraph and Neo. The team provides the following comments regarding each of these competing projects:

Project Zilliqa Zil

On other promising projects you can read here

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