Zilliqa is the first public blockchain designed to implement sharding. Sharding enables to linear scaling as the blockchain grows in size. Zilliqa is the very first high-throughput blockchain platform of a public nature that was designed to be able to scale up to thousands of transactions every second. Additionally, this platform allows secure and data-driven dApps. Moreover, it does this all while meeting the scalability required for financial algorithms and machine learning. Now, you can buy Zilliqa (ZIL) India with BuyBitcoin.
Zilliqa (ZIL) and its Uniqueness
Zilliqa has found a way to process more transactions as more nodes join the network. It involves re-imagining the blockchain from scratch. Their new model implements a hybrid consensus protocol to grow the network’s throughput with every ~600 new nodes that join.
In theory, every 600 new nodes, Zilliqa’s throughput increases by dividing the work. In practice, there are issues with broadcast if the network becomes very big (over 1 million nodes). Still, the upper bound is 1 million nodes that we’re nowhere close to reaching. As of this writing, Bitcoin has ~11,000 nodes in operation. Ethereum, the largest network of full nodes, has almost 25,000.
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All nodes begin with PoW at the beginning of their DS epoch. After this, the nodes participate in pBFT consensus protocols. The consensus protocol requires a majority vote for the block to be valid and committed onto the blockchain. Following a node’s PoW, it can vote for a specific quantity of blocks, with each committed block delivering a reward.
Zilliqa and Smart Contracts
The team wants to work toward language that can prove safety properties surrounding a contract. Also, they feel that by doing so, they can avoid common problems, such as the Parity and DAO Hacks, that are unavoidable without formal proofs about contracts.
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