The current price of Zilliqa fluctuates around $0.004793; the total market capitalization is $47,013,599 or 5,924 BTC, which makes Zilliqa one of the 80 most popular digital currencies as of January 2020. The circulating supply is 9,808,186,829 ZIL, while the total supply is 13,099,653,982 ZIL. The daily trading volume is around $276,109,006 or 34,928 BTC. The most active exchange that trades ZIL is Binance.
The all-time high of Zilliqa, $0.231489, was reached on May 10, 2018 – outside the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of ZIL, $0.004294, occurred fairly recently on November 25, 2019. Currently, the estimated ROI (return on investment) of Zilliqa is -96.50%, which means that $100 worth of ZIL bought at the time of the Zilliqa launch would not yield any profit today.
The initial coin offering (ICO) for Zilliqa was held back in 2018; the price of a single ZIL token was $0.0038. The campaign was extremely successful, raising $22 million shortly after launch. The token was soon listed on several major cryptocurrency exchanges, which led to a 30-fold increase in ZIL price as compared to the initial value.
It is worth noting that the described price increase took place during the bull-hype period of January 2018, when the cryptocurrency market was unbelievably strong. The glory did not last long, and already at the end of January, the price decreased by a factor of 2. However, this was not the end of the story for Zilliqa, since the best times for the token were still ahead. In March 2018, the developers released the Zilliqa source code, insinuating that the new blockchain was soon to be established. The investors were attracted by the idea, and the price of ZIL skyrocketed again – up to the historical high of 23 cents. This marked a 50-fold increase in price since the ICO times.
But once again, the bright picture did not last. Together with 90% of all the altcoins on the market, the price of ZIL went down the gutter. Ever since September 2018, the price has been slowly decreasing, going even below the initial coin offering value. Currently, the Zilliqa team has shifted the focus from marketing to development.
Recently, the team announced several major events in the roadmap, and some prominent collaborations are emerging, for instance, with a global media and services company Mindshare. Nevertheless, the conservative prediction website WalletInvestor suggests the value of $0.0003034 for ZIL in one year.
What is Zilliqa (ZIL)
Zilliqa is a public blockchain platform created in 2017 by a group of academics from the Universities in California and Singapore. The creators of Zilliqa position it as a next-generation, high throughput blockchain platform that aims to solve the issue of scalability by mediating thousands of transactions per second. The platform is powered by the Zilliqa token (ZIL), which serve for the execution of smart contracts and transactions in the system.
What enables Zilliqa to solve the scalability problem so efficiently is the process called sharding. Shards are the groups of nodes that process transactions separately from each other. Dividing the system into several “mini-blockchains” (shards) running in parallel is much more effective than the normal consecutive operation of the system.
A remarkable feature of Zilliqa is the use of a hybrid consensus mechanism. The operation of nodes is dependent on the Proof-of-Stake (PoS) hash. Additionally, it incorporates the Byzantine Fault Tolerance Consensus in order to check false transactions; the validation operates periodically in 1-3h cycles. The combination of the two mechanisms is much more environmentally friendly than the classical Proof-of-Work (PoW) mechanism. In addition, mining Zilliqa is more accessible and less centralized, since the hardware requirements are not as high as for some of the most popular cryptocurrencies.
Another cool feature of ZIL is the use of a dedicated programming language called Scilla, which further strengthens the security of the system.
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