Zilliqa

Zilliqa In-depth Report Generated by AI - For further details, please review:

https://sosovalue.com/coins/zilliqa

1)What is Zilliqa？

Zilliqa is a public, permissionless blockchain designed to offer high throughput, capable of processing thousands of transactions per second. It addresses the issues of blockchain scalability and transaction speed by utilizing sharding as a second-layer scaling solution. This makes it a suitable platform for traders and developers interested in building professional decentralized finance (DeFi) applications. Zilliqa's native token, ZIL, plays a crucial role in securing and speeding up transactions on the platform, as well as enabling the execution of smart contracts. Throughout 2023, Zilliqa has seen significant developments and partnerships. For instance, the implementation of Ethereum Virtual Machine (EVM) compatibility on both its testnet and mainnet marked a major step, expanding its accessibility to a wider range of developers and wallet users within the blockchain ecosystem. This EVM compatibility was fully deployed to the mainnet in April 2023. Zilliqa's ecosystem has been bustling with activity, including the launch of new protocols and partnerships. Ionise, the first money market protocol built on Zilliqa EVM, was officially launched on the mainnet. This launch is significant for DeFi growth on Zilliqa. The network also partnered with ChainUp to expand its Web3 infrastructure and collaborated with Racing League to develop a Web3 fan engagement program for horse racing fans. Moreover, Zilliqa Group has formed strategic alliances, like its partnership with GMEX ZERO13, to launch a consumer-focused carbon offset platform. This initiative is part of a broader effort to empower consumers to drive environmental sustainability. Additionally, Google Cloud joined the Zilliqa network as a Staked Seed Node operator, enhancing the blockchain's scalability, resilience, and data availability. In summary, Zilliqa stands out for its high transaction throughput, scalability solutions, and a growing ecosystem that encompasses DeFi, environmental sustainability projects, and partnerships across various sectors. Its advancements in 2023, including EVM compatibility and strategic alliances, indicate a focus on broadening its application scope and enhancing its technological infrastructure.

2)Which sector does Zilliqa belong to?

Zilliqa belongs to the blockchain and cryptocurrency sector, which has been experiencing various trends and facing different challenges in 2023.

Growth of Decentralized Finance (DeFi): The blockchain sector has seen a strong focus on DeFi. Cryptocurrency, particularly Bitcoin since its inception in 2009, has been pivotal in this growth. Established financial institutions are also utilizing blockchain for asset management and real-time settlements, indicating a growing acceptance of blockchain in traditional finance. The global market in blockchain banking and financial services grew from $1.89 billion in 2022 to $3.07 billion in 2023, showcasing the sector’s expansion.

Challenges from Fraud and Corruption: The sector has been marred by incidents of fraud and collapses of major platforms, such as Terra and FTX, leading to increased skepticism and a dampening of interest. The FBI reported a significant rise in cryptocurrency investment fraud, which impacts the adoption and excitement around the technology.

Increased Regulatory Scrutiny: There has been a notable legal crackdown in response to various issues within the sector. The U.S. Securities and Exchange Commission (SEC) has taken action against various entities for unregistered offers and sales of crypto assets and fraudulent activities. This legal action reflects a growing focus on regulation and compliance within the sector.

Enterprise Investments in Blockchain: Despite challenges, enterprises continue to explore blockchain’s potential beyond the financial sector. Applications in identity and access management, supply chain management, and document verification are being explored. Some organizations are using blockchain for compliance and transparency in supply chains, indicating a broader adoption of blockchain technologies.

Emergence of Non-Fungible Tokens (NFTs) for Business: NFTs are increasingly being recognized for their potential in various business applications. Companies are exploring NFTs for digital rights and obligations, with the luxury market alone potentially representing a $56 billion revenue opportunity by 2030. This trend reflects the growing interest in blockchain’s application beyond traditional cryptocurrencies. The current situation in the blockchain and cryptocurrency sector is one of cautious growth amid challenges. The sector continues to innovate and find new applications, particularly in DeFi and NFTs, while grappling with issues related to fraud, corruption, and regulatory changes. The future of this sector appears to be heading towards greater integration with traditional finance, increased regulatory oversight, and broader enterprise adoption across various industries.

3)What is tokenomics of Zilliqa (includes allocation and supply schedule)?

The tokenomics of Zilliqa (ZIL) are characterized by a well-defined token distribution and supply schedule, along with a unique token creation process:

Token Distribution: The initial token distribution of Zilliqa’s native token, ZIL, is categorized as follows:

Early & Community Contributions: 30% of the tokens are allocated for early and community contributions.

Mining Rewards: 40% of the total token supply is reserved for mining rewards.

Company, Team, Agencies: The remaining 30% of tokens are allocated to the company, the team, and various agencies.

Supply Schedule:

Zilliqa has a maximum supply cap of 21 billion tokens. The supply of ZIL is expected to be fully vested by June 2029. The initial token launch date was 31 August 2017.

The token supply distribution includes a 30% distribution through the public sale, 10% allocation to Anquan Capital, 12% to Zilliqa Research, 5% to the founding team, and 3% to various supporting agencies, including Bitcoin Suisse.

Token Creation Process:

Zilliqa uses a Proof of Work (PoW) mechanism, but uniquely, it is used only to establish the identity of network nodes, not for general blockchain consensus for every block. This approach enhances efficiency and reduces the network’s energy footprint.

New blocks are added to the Zilliqa blockchain at regular intervals, contributing to its scalability. The network features a dual mining capability, allowing users to switch from mining another coin to ZIL for a few minutes each hour.

The reward system in Zilliqa is designed to distribute mining rewards based on the contributions of valid signatures. The reward is split into 25% as a base reward for validating nodes and 75% as flexible rewards based on valid and accepted signatures. Reward distribution occurs every 100 epochs. Zilliqa’s tokenomics, with its focus on mining rewards and the allocation to various stakeholders, along with an efficient and scalable token creation process, reflect a balanced approach to maintaining network security and encouraging community and ecosystem development.

4)What about the team and the investors of Zilliqa?

The Zilliqa project, known for its high-throughput public blockchain platform, has a diverse team and an interesting funding history:

Team Members and Founders:

Zilliqa was founded by Prateek Saxena, Max Kantelia, and Juzar Motiwalla. These founding members were later joined by Dong Xinshu as the CEO, Yaoqi Jia as the CTO, and Amrit Kumar as the Chief Scientist. The team was initially focused on research and development at the National University of Singapore.

Mark Hemsley serves as the Chairman of the Board, bringing his experience from Cboe Europe and Cboe Global Markets. Matt Dyer is the interim CEO, leveraging his extensive enterprise experience. Richard Watts is the Chief Technology Officer, a role in which he oversees all aspects of Zilliqa’s technology roadmap and strategy.

Funding History:

Zilliqa began its initial coin offering (ICO) with a private funding round that raised $12 million in ETH. The surging price of ETH subsequently increased the value of this funding to over $20 million, reaching the ICO's hard cap.

Due to high community interest, Zilliqa allocated 4445 ETH worth of ZIL for a public sale in January 2018, which raised $22 million. Tokens were sold for $0.00381 each during this public sale.

Project Development and Support:

Zilliqa was launched in 2017, aiming to address the scalability issues of existing blockchains through sharding, a method of splitting the network into multiple portions. This innovation led to the creation of the world's first public blockchain sharding architecture.

The engineering team at Zilliqa also developed Scilla, a programming language focused on the safety of smart contracts, which became the first peer-reviewed smart contract language to be used in a production platform. The research and development efforts at Zilliqa have played a significant role in evolving blockchain technology, particularly in the area of scalability. Zilliqa's journey from its roots in academic research to a leading blockchain platform is marked by strategic leadership, innovative technology development, and a successful funding initiative, setting a strong foundation for its ongoing contributions to the blockchain industry.

5)What is the development history of Zilliqa?

List all important events and milestones in the development process of Zilliqa. The development history of Zilliqa, a high-throughput public blockchain platform, includes several key milestones and events:

Foundation and Concept (2017): Zilliqa was launched in 2017 by a team from the National University of Singapore. The founders created Zilliqa with the aim to scale thousands of transactions per second and to address the scalability issues faced by traditional blockchains.

Initial Team Formation (2017): In June 2017, Xinshu Dong, Yaoqi Jia, Amrit Kumar, and Prateek Saxena joined as the initial team members.

Introduction of Sharding (Date Unspecified): Zilliqa introduced the concept of sharding to blockchain technology. By splitting the network into multiple portions, Zilliqa became the first public blockchain to implement sharding architecture, enhancing its scalability.

Creation of Scilla (Date Unspecified): The Zilliqa engineering team developed Scilla, a programming language to enhance the safety of smart contracts on the blockchain. Scilla was recognized as the first peer-reviewed smart contract language in a production platform and received attention at the prestigious OOPSLA 2019 programming languages conference.

Initial Coin Offering (ICO) (December 27, 2017 - January 4, 2018): Zilliqa conducted an ICO, raising $22 million.

Mainnet Launch (January 31, 2019): Zilliqa’s mainnet was officially launched. This initial phase included a bootstrapping mode, where mined rewards were distributed but transactions were not yet accepted to safeguard against early attacks.

Mainnet Upgrades and Developmental Achievements (2020-2021): Over these years, Zilliqa underwent several mainnet upgrades, introduced a one-stop GUI for development tools, integrated with Rosetta, launched the ZWAP governance token, revamped the Learn Scilla portal, and developed various SDK versions.

Introduction of EVM Compatibility (Recent Years): Zilliqa introduced EVM (Ethereum Virtual Machine) compatibility to its testnet, marking a significant step in making the protocol accessible to a broader ecosystem of blockchain users and developers. This included the ability to use EVM wallets and tools such as MetaMask with Zilliqa.

NFTverse Expansion (Recent Years): Zilliqa expanded into the NFT space by onboarding artists and launching marketplaces like the Soulless Citadel. They also worked on a Metadata standard (ZRC7) for NFTs and collaborated with WEYU to enhance their NFT ecosystem.

Gaming Initiatives (Recent Years): Zilliqa ventured into the gaming sector by partnering with organizations like XBorg and RRQ. They joined the Blockchain Game Alliance (BGA) and launched initiatives to support gaming on their platform.

Zilliqa 2.0 and Future Plans (2023): Plans for launching EVM compatibility on the mainnet and the development of Zilliqa 2.0 by the end of 2023 were announced. This includes developing DeFi tools and applications, with projects like Ionise, a money market protocol, expected to launch soon. These milestones showcase Zilliqa’s continuous evolution and efforts to address the scalability issues of blockchain technology while expanding into various sectors like gaming, NFTs, and DeFi.

6)What is the progress and future roadmap of it?

Here’s a chronological summary of significant events and milestones in the development of Zilliqa, along with insights into its recent progress and future roadmap: Chronological Development Milestones:

2017: Zilliqa was launched, introducing a high-throughput public blockchain platform. The project’s founders focused on addressing blockchain scalability issues.

June 2017: Initial team formation with key members joining from the National University of Singapore.

December 27, 2017 - January 4, 2018: Zilliqa conducted its Initial Coin Offering (ICO), raising $22 million.

2018: Introduction of sharding to enhance scalability and the creation of Scilla, a secure smart contract language.

January 31, 2019: Official launch of the Zilliqa mainnet.

2019-2021: Series of mainnet upgrades, introduction of tools and technologies such as the one-stop GUI, Rosetta Integration, and the ZWAP governance token. Recent Progress and Future Roadmap:

2022 Highlights:

Launch of EVM compatibility on the testnet.

Development of WEB3WAR in the gaming division.

Progress in Rialto marketplace and DeFi tool development.

Expansion in esports and multi-chain development.

2023 Plans:

Launch of EVM compatibility on the mainnet.

Focus on DeFi development, including lending and borrowing tools.

Continued development in the NFT marketplace (Rialto).

Strategic partnerships and new investments.

Key Future Milestones:

Development of Zilliqa 2.0 by the end of 2023.

Launch of Ionise, a DeFi money market protocol, and other DeFi tools.

Expansion in DeFi capabilities including DEXs, bridges, staking products, and cross-chain applications. Regrettably, I couldn’t find a complete and detailed chronological timeline of all key events and milestones. The information I provided is based on available resources and covers major developments in Zilliqa’s history, its recent achievements, and future plans. For more specific details or the latest updates, visiting Zilliqa’s official blog or website would be recommended.

7)List all important links related to Zilliqa

Here is a list of important links related to Zilliqa (ZIL), covering various aspects including official resources, learning materials, social media, and community platforms: Official Website and Resources

Zilliqa Official Website:Zilliqa.com.

White Paper:Zilliqa White Paper.

Blog:Zilliqa Blog.

Developer Portal:Developer Portal.

Scilla Language:Learn Scilla.

Scilla Cookbook:Scilla Cookbook.

Zilliqa Explorer:Explorer. Market Information

Price and Market State:Coin360 - Zilliqa. Community and Social Media

Discord:Official Zilliqa Discord.

Twitter:Zilliqa on Twitter.

Telegram:Zilliqa on Telegram.

Reddit:Zilliqa on Reddit.

GitHub:Zilliqa on GitHub. Additional Links

ZilSwap:ZilSwap.

Rialto:Rialto.

Stablecoins:StraitsX.

Fiat On-Ramp:Liquid.

Valkyrie Zilliqa Trust:Valkyrie Zilliqa Trust. These resources provide a comprehensive overview of Zilliqa, offering insights into its technology, community, and market presence.

8)Bullishness index for this token from the perspective of token valuation and future potential

The valuation and future prospects of Zilliqa (ZIL) are influenced by various market conditions, technological advancements, and strategic projects. Let’s delve into the current data, recent performance, and expert analyses to provide a comprehensive understanding: Current Valuation and Market Performance

As of a recent analysis, Zilliqa’s pivot point value was $0.021631, with support levels at $0.021341, $0.020851, and $0.020562, and resistance levels at $0.022120, $0.022410, and $0.022899.

Zilliqa’s price is positively correlated with the top 10 coins by market cap, excluding Tether (USDT), and with the top 100 coins, excluding all stablecoins.

The Zilliqa Fear & Greed Index was at 71, indicating investor sentiment in the ‘Greed’ zone, which combines various market and investment indicators. Short-Term and Long-Term Price Predictions

Short-term predictions show a decline in ZIL’s price, with expectations of reaching $0.020846 by December 6, 2023, and $0.019898 by December 31, 2023.

In the longer term, predictions for 2024 suggest a potential increase to $0.088762, and by 2025, a rise to $0.090558 is forecasted. For 2030, predictions indicate a possible increase to $0.144677. Future Prospects and Potential Growth

Zilliqa’s future growth is expected to be driven by strategic partnerships, the launch of innovative solutions in areas like peer-to-environment strategies, token issuance, and NFT activations.

Planned introduction of EVM support on the Zilliqa network is anticipated to increase adoption and cement its position in the blockchain industry.

The launch of the Metapolis metaverse project and plans to delve into the Web3 gaming space, including the launch of a hardware game console and gaming hub in 2023, are significant developments for Zilliqa’s future prospects. Expert Opinions and Market Analysis

Market trends have recently been bearish, with a 17% price drop in Zilliqa’s value over the last month. However, experts suggest that Zilliqa’s strategic moves and technical developments could lead to recovery and long-term growth.

It is important to note that cryptocurrency markets remain extremely volatile, making long-term price predictions challenging and subject to change. Conclusion Zilliqa’s current valuation and future prospects are shaped by its market performance, technological advancements, and strategic initiatives. While short-term predictions indicate a potential decrease in price, long-term forecasts are more optimistic, driven by innovative projects and anticipated technological enhancements. However, given the inherent volatility of the cryptocurrency market, these predictions should be approached with caution, and investors are advised to conduct thorough research before making any investment decisions.