What Is Zilliqa (ZIL)?
Zilliqa (ZIL) is the native cryptocurrency of Zilliqa, a Layer 1 blockchain that supports digital transactions, smart contracts, and decentralized applications. The network was originally developed using sharding technology to process transactions across multiple groups of nodes. Zilliqa has since expanded its focus to include blockchain infrastructure for institutional finance and regulated financial services.
Development of Zilliqa began in June 2017. The project launched its testnet in March 2018, followed by its mainnet in June 2019. Since then, Zilliqa has introduced network upgrades to support additional applications. Its infrastructure includes a Mediation Layer that checks whether participants are authorized to transact before settlement takes place.
ZIL is used to pay transaction fees and execute smart contracts on the blockchain. It also supports activities within the Zilliqa ecosystem. The network has used a practical Byzantine Fault Tolerance (pBFT) consensus mechanism, which requires agreement from at least two-thirds of participating nodes to confirm transactions.
Zilliqa was conceived by Prateek Saxena, a researcher at the National University of Singapore, whose work explored how sharding could improve blockchain transaction processing. Saxena later co-founded Anquan Capital with Max Kantelia and Juzar Motiwalla, which established Zilliqa Research in 2017 and appointed Dong Xinshu, Yaoqi Jia, and Amrit Kumar to lead the project's development.
ZIL has a maximum supply of 21 billion tokens with a circulating supply of approximately 20.62 billion ZIL.
ZIL is listed on Binance for trade and purchase. The live price of ZIL is available and updated in real time on Binance