Zilliqa (ZIL), launched in 2017, is a cryptocurrency network which is focused on the idea of ‘Sharding’. Initially, it was designed in order to overcome the issue of scalability in various blockchain networks such as Ethereum. Sharding is similar to the concept of ‘divide and conquer’. In this transaction protocol, any exchange is divided into smaller groups, so that miners will be able to conduct parallel transactional verification. As an output, the consensus can be reached more quickly and ultimately increase the number of transactions in the same time period. According to the white paper, transactions speed in Zilliqa (ZIL) could scale up to approximately 1000X that of Ethereum’s network. This high throughput enables developers to focus on devoting their time on ideas rather than worrying about network congestion.
Current Statistics:
As per CoinMarketCap, Zilliqa (ZIL) was ranked at 48th place in cryptocurrency ranking with a total market capitalization of 135,841,757 USD, on May 06 at UTC 08:24. Against Bitcoin (BTC), the crypto was trading at 0.00000275 BTC per chip. Not to forget that the trading volume in Zilliqa (ZIL) in last 24-hours is 13,680,027 USD, having 8,687,360,058 ZIL tokens in circulation. Now in order to have a little bit better understanding of the price variation of Zilliqa, we will compare its current price with the price of crypto 25-days back. On April 11, the altcoin was trading at 0.020331 USD, and today its price is rotating around 0.015536 USD, which accumulates to a dip of 23.6%.
If you look at the previous trading charts of Zilliqa (ZIL), it attended its all-time high on May 10, 2018, and traded at a humongous price of 0.231489 USD. However, on December 05, the same year, the altcoin fell to its lowest price of 0.012491 USD. And currently, it is trading near to its lowest value. Let’s have a look at the trading in Zilliqa on the previous day, as it gave some relaxation to the altcoin. The crypto opened yesterday at 0.015966 USD and in the intraday trading gained its value by 0.000281 USD (1.76%), henceforth, wrapping the day at 0.016247 USD. Additionally, the trading volume of Zilliqa (ZIL) for the previous day was around 12,869,235 USD.
Zilliqa (ZIL) Price Prediction:
The Sharding mechanism and speed of transaction in Zilliqa chain has drawn the attention of a large number of investors toward the project. Zilliqa is a relatively new contender in the crypto space back as it was launched in 2017 only. Interestingly, there is a significant increase in the price of the crypto since then. Moreover, the news around Zilliqa is positive, which will indeed help in pushing the value of the coin higher. Zilliqa team had recently partnered with the King College London in order to organize a series of educational seminars to make the next generation of students aware of blockchain. These seminars have brought Zilliqa in direct contact with the newer generation of engineers and business leaders. The move will play a big role in the long run and ultimately will help to increase the popularity of Blockchain. According to ZIL Predictions, The year 2019 is very bullish for the coin. Additionally, some of them believe that the price of Zilliqa will hit the $0.10 mark by the end of 2019.