Mainnet Of Zilliqa Cryptocurrency Starts Its Work
The team of a cryptocurrency project Zilliqa announced the launch of its mainnet. According to the blog, Zilliqa became the first public blockchain platform that successfully implemented the concept of sharding.
The company will exchange the old ZIL ERC20 tokens for the internal coins of its blockchain soon. The swap will take place on more than ten exchanges, including Binance, Coinbase, Huobi, Gate.io, and others. The procedure is scheduled for the end of the first quarter of 2019.
At the same time, some wallets will support the mainnet ZIL tokens, but they will be incompatible with the old ERC20 coins. When the swap is finished, these tokens will be frozen.
Initially, Zilliqa’s blockchain will offer a simple sharding mechanism for smart contracts. But the developers are planning to improve the language of smart contracts called Scilla, which will also allow improving the sharding of the mainnet.
Sharding is one of the solutions of the scalability issue, which blockchain-based applications are prone to. When a dApp grows, its database server cannot cope with such a load. For better efficiency, the database is divided into parts, which are sent to various shards.
Besides, the project team will add support for zkSNARK — a zero-knowledge protocol that does not require interaction between the parties and allows them to prove the data without having any information from the second party.
Previously, Vitalik Buterin suggested that the zkSNARK technology will increase the network productivity significantly. Last year, the Zilliqa developers stated that their testnet could process 2000–3000 payments per second with the help of sharding.
A new report showed that dApps developers faced a bigger problem than scalability.