Blockchain

Zilliqa Blockchain Starts Non-custodial Staking for Customers

eToro

Working as a prominent, highly secured, and robust blockchain system, Zilliqa has announced to launch support for non-custodial staking on October 14 on its official mainnet for crypto fans. The expert team at Zilliqa has tried to enrich the user experience by offering them a simple, secure, and reliable interface. Zilliqa will keep the feedback zone open and run the public beta testnet testing of the non-custodial node staking event till October 2 for the customers.

According to the report, the testing period has been increased to collect community input for the decentralized exchange project by Switcheo on Zilliqa, Zilswap, and the gZIL token contract. The team aspires to offer streamlined staking operability on the Zilliqa blockchain channel, and so is keen to collect community reaction and suggestions for development. The firm thanked the expert auditors of PwC for all the aid provided by them.

Zilliqa is gearing up for a powerful upgradation along with the beta testing event. This upgrade will come studded with lucrative opportunities and functionalities for the customers. The various changes to be introduced in Zilliqa post the upgrade shall facilitate:

  • Manage and run new tokenomics described in ZIP-9
  • Increase the Scilla code size from 20KB to 50KB, making the entire setup more efficient.
  • It will reduce the execution fee of smart contracts by eight times by optimizing the Scilla interpreter and core protocol solution.
  • Increase the mining rewards to 270,000 ZIL per DS epoch in comparison to the earlier rate.
  • Post the upgrade, the allocation rate of mining rewards will be transformed into 60% mining and 40% staking.
  • After completing one month, the upgrade will result in an increase in the gas price from 0.001 ZIL to 0.002 ZIL.

The transaction fee will increase two times while the smart contract transaction fee will plunge by four times. This will remove the difference between the gas fees for both the transactions. Soon, the team will launch rewards giving promotional campaigns for the community.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button