When Zilliqa (ZIL) was issued back in January 2018, the majority of currencies were setting their all-time high values while ZIL introduced the crypto community to a new level of a scalable blockchain-based ecosystem with “sharding” technology.
Thanks to sharding and the immense potential for scaling that comes with it, ZIL made it to the 33rd spot on the official ranking list in less than several months, posing as one of the most promising projects in the market.
Moreover, Zilliqa team has announced the release of the mainnet that should take place at the end of the fourth quarter of 2018, alternatively having the mainnet launched in the first quarter of the next year.
With the mainnet launch, Zilliqa can probably look forward to attracting more interest for the project, consequently drawing more investors in.
Zilliqa Announces the Mainnet Launch
Although the market is showing immense drops for most of the currencies on September 6th, while dropping by -21% against the fiat, Zilliqa is holding onto the good news regarding the mainnet launch.
The team has announced that the mainnet launch for Zilliqa will take place at the end of the fourth quarter of 2018, also stressing out that there is a possibility that the mainnet will take place at the beginning of 2019 in the first quarter.
Originally, the roadmap of ZIL marked the mainnet launch as scheduled for the third quarter of the current year, however, the team had to postpone the launch stating that they need more time to work on all needed preparations.
There is a lot of work to be done according to the team, so they are yet to finish preparations for the token swap that will take place alongside the mainnet launch, also working on security audits, developing tool chains, preparing the integration for wallets and bringing more decentralized applications to the platform.
The launch of the mainnet is a part of a trend among the cryptoverse slowly becoming viral as many crypto assets are seeking independence through the release of the mainnet network, just like Zilliqa is planning to.
With the launch, Zilliqa will enter an important stage of its development, being able to utilize the full potential of sharding. Thanks to sharding, the network is divided into multiple “shards”, which are responsible for parallel transacting, that way making transactions fast and the network highly scalable, altogether making ZIL an attractive investment.
Zilliqa and the Latest Updates: Sharding Can Take ZIL Long Way
The value and potential of a currency is commonly mirrored in the technical capabilities of that same digital asset, and if so, Zilliqa has something to look forward to given the fact that this crypto in a way revolutionized a part of blockchain technology by bringing the answer to scalability issues that many blockchain projects are suffering from.
Zilliqa’s technology might even be used on Ethereum as announced by Vitalik Buterin who mentioned Zilliqa and sharding earlier when asked about the scalability solution for Ethereum network.
In the meanwhile, the team announced support for smart contracts with Scilla, making these operations sharding-friendly, including all core protocols for functionality as well as having adjusted PoW difficulty and mining into creating a sharding-friendly ecosystem.
Test and security audits have also been scheduled for the fourth quarter when the team plans on testing the platform for security and allowing users to get involved with mining tokens as a part of the test.
The team also added that they will be primarily focused on the development of the project, while the financial side will come second as they have enabled financial assets for research and further developments over the course of the next several years.
At this pace of growth and with large-scale operations regarding the further development of the project, Zilliqa has a massive potential of becoming “the next big thing” with the upcoming mainnet and the technology of sharding that enables scalable and cluster-free decentralized ecosystem.
Alongside with the mentioned developments, Zilliqa is working on creating a combined PoW, while improving mining features and increasing the efficiency of sharding, that way preparing ZIL for the mainnet that should be out anywhere from December of 2018 to January 2019 when the crypto will be turning one.
Zilliqa in the Market
Although the team behind ZIL is working full steam on new technical updates and developments as they are preparing the mainnet, Zilliqa is seen dropping today together with the rest of the market in a, not as benevolent trend.
On September 6th, Zilliqa (ZIL) is seen down by -21% against the fiat, trading at the price of 0.036$. However, the current drop can be neglected when it comes to observing the overall success of the project and the fact that the market is dictating bear trends at the moment, which then places a focus on the potential ZIL is bringing with the upcoming mainnet launch.