Crypto Coin Consultants's video: 10 Facts About Zilliqa EXPLAINED 10 Zilliqa

Zilliqa ICO review! Zilliqa is a high throughput blockchain platform using sharding to solve the blockchain scalability issue by increasing the number of processable transactions per second (TPS). Zilliqa is a next-generation blockchain platform designed to scale in an open, secure, permissionless distributed network. Zilliqa is the first platform to implement sharding on a public blockchain, a core feature that enables the platform to tackle the same scalability issues that major blockchains are currently facing. Zilliqa uses transaction sharding, which basically means that the network is divided into smaller component networks that are able to process transactions in parallel. Scalability essentially refers to an increase in the throughput of blockchain technolgy, or simply put, it’s an improvement on the number of transactions per second (TPS) that a blockchain can process. Nevertheless, the team behind Zilliqa believes they’ve found a way to rival these numbers and offer a much needed solution to the blockchain scalability issue. Each group of 600 nodes is referred to as a “shard.” If, for example, the network was to operate with 1,800 nodes, it would divide itself into 3 ‘shards’. Each of these shards is tasked with processing a fraction of the network’s transactions. As the shards work in parallel, their assigned transactions are processed into microblocks. The “DS epoch” represents the end of this parallel processing period and the moment when microblocks are assembled into a full block, which becomes part of the blockchain. Nodes are assigned shards randomly, but will also know if they're part of the same shard. Several nodes will be chosen to manage the various shards for each DS epoch in a democratic and decentralized way. These randomly selected managing nodes are known as the Directory Service Committee (or DS Committee for short). They're tasked with directing the network and deciding which nodes are assigned to which shard. The DS Committee assigns new transaction requests to a shard for processing, and will ultimately assemble the microblocks that the shards created into a full block. The DS Committee then runs consensus on the new block before it becomes part of the blockchain. While transaction sharding is a fairly straightforward process requiring little communication between shards, the same cannot be said when it comes to running decentralized apps or smart contracts on a sharded blockchain. The actions of smart contracts must often depend on checking other variables, states, or functions. Shards would have to communicate a lot, which in turn would require processing power or bandwidth, and this can end up neutralizing the advantages of sharding. At the moment, an efficient and secure state sharding scheme has yet to be found. When contracts are allowed to run separately in various sharded states, there are a number of potential issues. These include excessive cross-shard communication, challenges to reconciliation, or the risk of contracts becoming more vulnerable to potential attacks. Ethereum is working on developing a potential solution to state sharding. Smart contracts on Zilliqa will only focus on data flow and functional programming; not yet allowing for checking, changing, or storing states. Scilla is a new programming language developed by the Zilliqa team, the syntax of which is similar to Solidity, but with one major difference. Scilla works through a separation of state and function, meaning it distinguishes between the communication aspect of a contract and the computational work it performs. Zilliqa doesn’t use proof-of-work to reach consensus, but rather, as a means of preventing Sybil attacks & establishing identities. Since energy usage associated with processing transactions in Zilliqa will be lower, the cost of processing transactions on the miners’ side will also be reduced. The high throughput in Zilliqa means that the aggregated sum of incentives from several transactions will compensate for the low fee per transaction. ZIL is the token native to the Zilliqa ecosystem, and it'll be used for paying transaction fees, as a mining incentive, or as gas for contract execution. ZIL is currently an ERC20 token based on the Ethereum blockchain that may be exchanged for Zilliqa-native tokens once the mainnet is launched. Zilliqa was conceived out of a well-funded initiative from the University of Singapore. Xinshu Dong, a cybersecurity expert with several national security projects in Singapore to his name, will act as Zilliqa's CEO. Prateek Saxena, a research professor in computer science at the National University of Singapore, is the project’s Chief Scientific Advisor. Disclaimer: This is not financial advice. I absolve myself of all responsibility (directly or indirectly) for any damage, loss caused, alleged to be caused by, or in connection with the use of or reliance on any content, goods or services mentioned in this article. As usual, do your own research.