Where Zilliqa is Accepted Locally and Globally
ZIL is the token of the “blockchain as a service” smart contract platform, Zilliqa. With fast transaction times, low fees, and a (potentially infinitely) scalable network, ZIL excels as a commerce crypto. It’s accepted as payment by businesses around the world, from The Tobacco Seed Company in Massachusetts to a brainpower supplements store in Abu Dhabi.
Who accepts Zilliqa…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Zilliqa?
You might call it “the Ethereum of Asia,” as it’s often compared with the dominant smart contract platforms. Zilliqa’s impressive use cases and partnerships are worth considering, to mention a few…
- Xfers, a payment processor with whom they are “Jointly driving financial inclusion in Southeast Asia” by powering their Singapore Dollar-pegged commerce stablecoin.
- Unstoppable Domains, offering stylish .crypto, .blockchain, and .coin domain names that are owned not rented — you buy the domain name once and own it for life.
- Mintable, where you mint NFTs for free and Turn any creation into an item on the blockchain.
Like Cardano, they have a strong academic methodology underlying their blockchain innovations. Notably, it was the first blockchain to implement sharding technology — there’s no theoretical limit to the number of transactions per second possible on their blockchain. ZIL looks to be a good bet on the adoption of blockchain technology in Asia and beyond…
It does face formidable competition in the smart contract space, it has not yet achieved a Top 50 CoinMarketCap ranking, which I might expect for a project with such a solid team and set of use-cases. It’s still unclear whether it’s really going to be a winner in the smart contract gold rush.
About Zilliqa
If you’re scratching your head wondering, “why did they give it such a weird name?” Zilliqa is supposed to sound like “silica” which, of course, underlies all our computing technology.
Existing cryptocurrencies and smart contract platforms are known to have scalability issues, i.e., the number of transactions they are capable of processing per second is limited, usually less than 10. As the number of applications utilizing public cryptocurrencies and smart contract platforms grow, the demand for processing high transaction rates in the order of hundreds and thousands of Tx/s is increasing.
In this work, we present ZILLIQA — a new blockchain platform that is designed to scale in transaction rates. As the number of miners in ZILLIQA increases, its transaction rates are expected to increase. At Ethereum’s present network size of 30,000 miners, ZILLIQA would expect to process about a thousand times the transaction rates of Ethereum. The cornerstone in ZILLIQA’s design is the idea of sharding — dividing the mining network into smaller shards each capable of processing transactions in parallel.
From the abstract of the Zilliqa whitepaper
Only 1 minute out of every 2–3 hours is needed to mine ZIL, allowing one to dual-mine other chains at the same time. Blossoming Ecosystem Over 60 project teams from over 20 countries have contributed to Zilliqa’s ecosystem.
From zilliqa.com
