In this last part (Part 5) of YouTube video mini-series, broken into several parts, I am going to deep-dive into Zilliqa and how it works, and share on whether Zilliqa is a good long-term investment. - Zilliqa alliance with Poly Network Bridge - Benefits of the Poly Network Bridge - Launch of the Pillar Protocol - How Pillar Protocol allows leveraging of existing assets - Why Zilliqa is a good long-term investment Watch all parts here: Part 1: https://youtu.be/GZYGTDrLPds Part 2: https://youtu.be/pDdWWFmPe_E Part 3: https://youtu.be/o5Rxy_sIdAA Part 4: https://youtu.be/8Nrqk-6zfjE Part 5: https://youtu.be/7byFLO9Gl0U By Zilliqa Zebra, a grazing investor and an ardent supporter of the Zilliqa initiative. Zilliqa alliance with Poly Network BridgeThe first major project that I'm going to cover is the Poly Network interoperability alliance with Zilliqa. The interoperability bridge will allow free flow of assets cross-chain amongst Zilliqa, Ethereum, Neo, Ontology, Binance Smart Chain and so on. Blockchains such as Zilliqa, Ethereum, Bitcoin, etc., are independent and disconnected networks. Their disconnectedness is mainly due to the fact they are very different systems in the way they validate transactions and store on-chain data. Poly Network solves this fundamental issue by creating an interoperability layer that connects several chains together in a decentralised manner. Benefits of the Poly Network BridgeThrough the Poly Network bridge, token holders and developers alike will benefit from Zilliqa’s comparatively lower transaction fees. With the bridge, developers will also be able to build cross-chain logic in their Scilla smart contracts in order to integrate them with smart contracts on all other supported blockchain. Switcheo’s DEX will also provide liquidity pairs which will enable users to earn trading fees and $ZWAP liquidity mining rewards. Launch of the Pillar ProtocolWe are also waiting for the launch of the Pillar Protocol, which is a dapp on the Zilliqa blockchain. Once generated, bought, or received, Pillar can be used in the same manner as any other crypto-currency: it can be sent to others, used as payments for goods and services, and in the future, even held as savings through community features built on top of the Pillar Protocol. How Pillar Protocol allows leveraging of existing assetsPillar Protocol allows them to take "leverage" on their existing assets. Say you have 1000 USD of ZIL. And you believe that the price of ZIL will still be going up. You can now collateralize your 1000 USD of ZIL and obtain say... 300 USD of Pillar. Which you can then use to buy more ZIL. And as long as the gains you make from your Zil exceed that of the Pillar interest, it's a profitable endeavor. Why Zilliqa is a good long-term investmentWith both projects coming onboard, there will be a greater utilisation of ZIL, as well as a higher volume of transactions which bodes well for Zilliqa as a whole. With more practical demand for Zilliqa, more exchanges are likely to list ZIL, making this a worthy long-term investment, not unlike Ethereum in its earlier days.
I hope this five-part series have been useful for you. Happy investing!
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IntroductionIn this Part 4 of YouTube video mini-series, broken into several parts, I am going to deep-dive into Zilliqa and how it works, and share on whether Zilliqa is a good long-term investment. - Partner: Xfers and XSGD - Partner: Hg Exchange - The team behind Zilliqa - Zillicracy and ZilHive Watch all parts here: Part 1: https://youtu.be/GZYGTDrLPds Part 2: https://youtu.be/pDdWWFmPe_E Part 3: https://youtu.be/o5Rxy_sIdAA Part 4: https://youtu.be/8Nrqk-6zfjE Part 5: https://youtu.be/7byFLO9Gl0U By Zilliqa Zebra, a grazing investor and an ardent supporter of the Zilliqa initiative. Partner: Xfers and XSGDIn this episode, I am going to talk about Zilliqa's partnerships. Firstly, Xfers is launching the Singapore stablecoin known as “StraitsX” or XSGD on the Zilliqa network. This is an initiative that has gained regulatory approval from the Monetary Authority of Singapore (MAS), and back 1:1 with the Singapore Dollar. The release of XSGD is strategically supported by a versatile ecosystem of partners ranging from non-custodial wallets to institutional custody solutions, exchanges, DeFi platforms, and Blockchain analytics tools. Partner: Hg ExchangeTaiwan’s largest digital asset platform, MaiCoin, has established a Hg Exchange together with Zilliqa. Hg Exchange has also signed a memorandum of intent with PhillipCapital, PrimePartners, RHT Capital and Fundnel. What Hg Exchange is trying to do is to tokenize high-growth private companies like Airbnb, Uber, SpaceX, Grab, Didi Chuxing and the likes. For the first time, you could actually own tokenized shares of unicorn companies. It will be a liquidity avenue for private capital market trades. The team behind ZilliqaAlso, the team behind Zilliqa are all computer scientists PhDs and they understand the technology of blockchain very deeply. In addition, there's also Zillicracy, a community-based initiative created to run in parallel with Zilliqa and the ZilHive initiative. Zillicracy and ZilHiveZillacracy focuses on expanding the Zilliqa ecosystem through community contributions or working with developers on projects suggested or even setting up projects suggested internally.
Zillacracy was created in 2019 and has been in the limelight ever since, helping take some brilliant ideas and turning them into working products. In the next episode, I am going to talk about the upcoming Zilliqa projects that shows why this is a great long-term investment. IntroductionIn this Part 1 of YouTube video mini-series, broken into several parts, I am going to deep-dive into Zilliqa and how it works, and share on whether Zilliqa is a good long-term investment. - The issues with Bitcoin and Ethereum - What is decentralization? - What is Delegated Proof of Stake? - What is Sharding? Watch all parts here: Part 1: https://youtu.be/GZYGTDrLPds Part 2: https://youtu.be/pDdWWFmPe_E Part 3: https://youtu.be/o5Rxy_sIdAA Part 4: https://youtu.be/8Nrqk-6zfjE Part 5: https://youtu.be/7byFLO9Gl0U By Zilliqa Zebra, a grazing investor and an ardent supporter of the Zilliqa initiative. The issues with Bitcoin and EthereumPopular blockchain networks, such as Bitcoin and Ethereum, are suffering from slow transactions speeds and expensive transaction fees. In fact, as of February 2021, the average transaction fee for Bitcoin is $14.25 USD per transfer! Since then, there are many cryptocurrency start-ups created to solve this scalability issue. Zilliqa is one of them. Using its own unique sharding technology, Zilliqa believes it can finally solve the scalability problem that has prevented many mainstream or traditional companies from testing the water with blockchain technology. What is decentralization?In a simple way, the blockchain network needs to achieve consensus among all the participating nodes. So, in order to verify one transaction, the participating nodes have to agree that it’s indeed a valid transaction. That’s why it’s called “decentralization,” so no one centralized power can just say something, and everybody else is forced to believe it. The bigger the network is, the harder it is to achieve consensus. The analogy is like when you are with four family members VS if you are with hundreds of other people. It will be easy to achieve an agreement with your family members, isn’t it? But, imagine if the same agreement has to be made among hundreds of people. Obviously, it would be much harder. What is Delegated Proof of Stake?Many newer blockchain platforms tried to solve scalability problems by introducing different consensus algorithms, especially Delegated Proof of Stake. These representatives will verify all the transactions in the blockchain And then, there’s Zillqa. The core team of Zilliqa understood this exact problem with blockchain scalability. And of course, they don’t want a simple fix like using DPoS consensus and ignore the core of the scalability problem itself. Zilliqa’s idea is to use sharding technology. The concept of Zilliqa’s sharding is to break down the nodes every 600 nodes. This breaking down process is called “sharding.” So, when there are 1200 nodes, we get two shards. When there are 1800 nodes, we get three shards. And so on. What is Sharding?Each shard will have to process a certain part of the blockchain transactions. To give you an idea of how it is going to work, I will give you an example. Imagine when there are six shards in total. Each of these shards will have to process one-sixth of the blockchain transactions in the form of “microblocks”. Continue watching at Part two.
IntroductionHello and good to have you back at Zilliqa Zebra. Are you confused about what gZil is and what you can do with it? Do you want to find out more about the purpose of gZIL? Let Zilliqa Zebra help answer your burning questions about gZIL. You will learn what is what is gZIL and how it came to being. You will also learn about a Decentralized Autonomous Organization or DAO and what purpose does it serve. Find out how to earn and accumulate gZIL, and what else you can do with this token. I will also share with you how you can use a real time calculator to help plan and strategise your staking to get most gZIL. Last but not least I will share with you where else you can buy, sell or trade gZIL. What is gZIL?gZIL is essentially a governance token, which empowers long-term token holders and frequent engagers to become a decision-maker in the Zilliqa ecosystem. This can be compared to a DAO- like structure where gZIL holders can vote and make decisions on community and partner projects powered by $ZIL. $gZIL are ZRC-2 compliant fungible tokens that can be earned alongside $ZIL staking rewards. $gZIL will only be issued when a user withdraws his/her $ZIL stakings rewards from his/her designated SSN operator. For every 1,000 $ZIL earned as staking reward, 1 gZIL will be issued (i.e. 0.001 $gZIL will be issued for every 1 $ZIL staking reward). The rationale behind issuing $gZIL is to capture long-term token holders and give them access to governance tokens that they can later use to make ecosystem-wide decisions (e.g. in a DAO like structure where $gZIL holders can vote and make decisions on community projects). What is DAO?What Is a Decentralized Autonomous Organization (DAO)? One of the major features of digital currencies is that they are decentralized. This means they are not controlled by a single institution like a government or central bank, but instead are divided among a variety of computers, networks, and nodes. The DAO had an objective to provide a new decentralized business model for organizing both commercial and non-profit enterprises. In the DAO, each action or vote is represented by some form of transaction in the Blockchain. Here the members are represented by the address (in Ethereum, It’s Ethereum address). These addresses can be owned by a human, a robot, an IOT device, or even another DAO. This makes it ideal for a fully automated system to run the full-fledged organization. Each member is given a token which represents the shares of the DAO; these tokens can also be used to vote in the DAO to take a certain decision. The token is nothing but another kind of contract sunning on top of Blockchain. The more token an address has, the more control he will have on the DAO. How does DAO work?Each member will have the rights to submit the proposal to take certain decisions. These decisions can be:
How do you earn gZIL?gZIL will be used for broader ecosystem governance. This will create a DAO-like structure through which gZIL holders can invest in community projects, with the longer-term goal of moving all ecosystem funding to the DAO and empowering the community to be decision-makers of the funded projects. The community holding gZILs will be able to vote on proposals alongside Zilliqa Research on making decisions. $gZIL will only be issued for 1 year starting from the launch of non-custodial $ZIL staking (14 October 2020), with the objective of creating scarcity and to incentivise users to get involved in the staking programme early. The maximum number of gZIL ever to be issued is limited at 722,700. gZIL will only be issued when a user withdraws their $ZIL stakings rewards from the designated SSN operator. For every 1,000 $ZIL earned as staking reward, 1 gZIL will be issued (i.e. 0.001 gZIL will be issued for every 1 $ZIL staking reward). What else can you do with gZIL?Aside from holding gZIL for governance purposes, users can also swap gZIL for other ZRC-2 tokens on our DEX decentralised exchange , ZilSwap, or contribute to its liquidity pool(s) in return for rewards. As of 18 Feb 2021, 1 gZIL is worth about 116 US dollars, so you can tell that it’s pretty valuable. Planning with a Real-time CalculatorIn fact, if you are planning to do some serious Zilliqa staking, you might want to check out the real time staking calculator at My-Zilliqa-Wallet. The calculator is a useful took which takes into consideration your potential gZil earnings. It then calculates the estimated annual returns factoring the returns from gZIL. In fact, using this example here, if you invest 100,000 ZIL at 14.2 APY, you should get an estimated annual return including gZIL of 3372 USD with an estimated actual APY of 26% which is really fantastic. With lots of great projects coming up, you are not only capturing the yield from staking but also the price appreciation of Zilliqa itself! You can also buy and trade gZILYou can also buy and trade gZIL at various crypto exchanges. Yes, users can swap gZIL for other ZRC-2 tokens via the decentralised exchange ZilSwap, or contribute to its liquidity pool(s) in return for rewards.
What is Zilliqa? Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications , and as of October 2020, it also allows for staking and yield farming Development work officially started on Zilliqa in June 2017, and its testnet went live in March 2018. A little over a year later, in June 2019, the platform launched its mainnet. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts. Who are the founders of Zilliqa? Zilliqa was first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena and several students in the School of Computing published a paper in 2016 that outlined how a sharding-focused blockchain could improve network efficiency and speed. Around the same time, Saxena co-founded Anquan Capital alongside Max Kantelia, a lifelong finance and tech entrepreneur, and Juzar Motiwalla, former president of the Singapore Computer Society. The company incorporated Zilliqa Research in June 2017 to develop the Zilliqa network, bringing on Dong Xinshu as its CEO, Yaoqi Jia as its chief technology officer and Amrit Kumar as its chief scientific officer. All three previously worked as research fellows at the NUS School of Computing. At present, Amrit Kumar is president, co-founder and chief scientific officer of Zilliqa. How many Zilliqa coins (ZIL) are there in circulation?Zilliqa has a fixed maximum supply of 21 billion tokens. ZIL was first made available for sale as an ERC-20 token as a part of a token generation event that concluded in January 2018. The tokens were subsequently transferred to the Zilliqa mainnet in a token-swap event that concluded in February 2020. Before launching, Zilliqa generated 60% of all tokens (12.6 billion ZIL) to be distributed at the token generation event, and the remaining 40% (8.4 billion ZIL) will be created through the mining process. Ten percent of all tokens (2.1 billion ZIL) were reserved for Anquan Capital, 12% (2.52 billion ZIL) for Zilliqa Research, and 5% for contemporary and future Zilliqa team members all of which were announced to be distributed quarterly over a three-year period. Zilliqa is designed such that all tokens will be minted within 10 years, with the block mining reward slowly decreasing. According to its whitepaper , the project aims to have 80% of the tokens (16.8 billion ZIL) mined within the first four years and 20% (4.2 billion ZIL) in the remaining six years. What is network sharding? Zilliqa network uses a concept called Sharding where the transactions are grouped into smaller groups and divided among the miners for the parallel transactional verification. Developing smaller groups for transactional verification means the Consensus can be reached faster and hence a higher number of transactions can be processed in a given time frame. The capacity of the network linearly increases in other cryptocurrencies as the number of people joins the network, but in this case, the capacity is increased at a higher variable rate than the number of members joining the network. By incorporating the Sharding Technology, it can completely revolutionize the smart contract functionality too. Well, network sharding or just sharding is a mechanism that allows the Zilliqa network to be divided into smaller groups of nodes each referred to as a shard. Simply put, imagine a network of 1,000 nodes, then, one may divide the network into 10 shards each composed of 100 nodes. Network sharding is the secret sauce that makes Zilliqa truly scalable. Imagine our example network of 1,000 nodes. Zilliqa would automatically divide the network into 10 shards each with 100 nodes. Now, these shards can process transactions in parallel. If each shard is capable of processing 10 transactions per second, then all shards together can process 100 transactions per second. The ability to process transactions in parallel due to the sharded architecture ensures that the throughput in Zilliqa linearly increases with the size of the network. Ziliqa has few pros as it has a great new technology. Zilliqa is the first platform to use sharding technology. This puts it ahead of the rest of the market. It's a completely new kind of blockchain designed to solve the problem of scalability. Third-generation platforms like Zilliqa could be the big winners in the future of cryptocurrency. Where should you store ZIL? A crypto wallet is essentially software that stores public or private keys and engages with a particular blockchain platform to enable users to send, receive and trade cryptocurrency, and keep a close watch on their asset balances. Storing your $ZIL in wallets that are secure, user-friendly and accessible is of the utmost importance. Wallets come in several types such as hardware, software, desktop. What is Zilliqa staking? The ZIL token is the native token of the Zilliqa ecosystem. The token completed its ICO on January 4, 2018. Staking ZIL tokens is supported by several platforms. Some of them include Zillacracy, Atomic Wallet, Frontier , and the Moonlet Wallet. Zilliqa's fast-growing ecosystem further makes its governance staking token profitable. Though not as popular as other top cryptocurrencies, ZIL stakers, however, are earning remarkable rewards on their stakes. gZIL tokens are ZRC-2 compliant fungible tokens. Interestingly, the token is earned alongside ZIL staking rewards. Users receive them as rewards when ZIL staking rewards are withdrawn from specified SSN operators. According to reports, for every 1,000 ZIL staking reward, 1 gZIL will be issued. The idea behind gZIL issuance is to help the platform identify long-term holders of ZIL tokens. Subsequently, providing them with access to participate in important decision making on the Zilliqa ecosystem. This is quite similar to the DAO structure, where governance token holders cast votes to reach a decision on community projects. What is Scilla smart contract language?Scilla (short for Smart Contract Intermediate-Level Language) is a safe-by-design smart contract language developed for the Zilliqa blockchain. Scilla provides a clean separation between the communication aspect of smart contracts on a blockchain, allowing for the rich interaction patterns, and a programming component, which enjoys principled semantics and is amenable to formal verification. Scilla imposes a structure on smart contracts that will make applications less vulnerable to attacks by eliminating certain known vulnerabilities directly at the language-level. Furthermore, the principled structure of Scilla will make applications inherently more secure and amenable to formal verification. First, due to the immutable nature of blockchains, smart contracts cannot be updated. Compare a smart contract with a traditional software, where, if a bug in the software is found, it is possible to fix it and release a new version. Smart contract bugs are hard to fix (possible only through a hard fork). The impossibility to update contracts is a serious limitation considering the fact that smart contract platforms drive an extremely large blockchain-based economy. Ethereum alone has a market capitalization of around USD 201 billion (as on Feb 2021). Second, smart contracts differ from traditional programs in the sense that they have a gas mechanism to pay for computational costs. Hence, while writing a contract, a developer must make sure that every function therein will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed to due gas limits. Such constraints are not present in traditional software systems. We will come back to this point in the coming sequel of this series. As a result, it is extremely important to ensure that a smart contract deployed on a blockchain is bug free and safe. Safety of smart contracts is particularly critical because they are run in a Byzantine environment, where, every party involved with a contract can potentially be malicious. For instance, a malicious user interacting with a contract may want to steal money, a miner may want to order transactions in a block to produce some unexpected outcome or the worst being the case where a user calls a contract that in turn calls another contract (such as a library contract) which is under the control of an attacker and hence behaves maliciously. IntroductionWelcome to another edition of Zilliqa Zebra! Are you unsure how to stake on the Zilliqa blockchain? Or are you confused with what gZIL is and how to earn it? Let Zilliqa zebra help. In this article, I am going to share with you some great tips on how often you should claim your staking rewards, and how to maximise your profits from Zilliqa staking. What is Staking?
What is a Proof of Stake?
Advantages of Proof of Stake
How to stake Zilliqa?
Understanding the APR
What causes APR to vary?
What is gZIL?
How do you earn gZIL?
How often should you claim staking rewards?
Planning with a Real-time Calculator
How to maximise your staking rewards?
IntroductionWelcome to another edition of Zilliqa Zebra. Are you confused with Zilswap and unsure about how to contribute to the Zilswap pool? Are you hope to earn some ZWAP but not sure how to do it? In the trending twitter forums on Zilliqa, there were many users complaining about the lack of how-tos to guides on how to contribute to the liquidity pool on ZilSwap and to earn ZWAP. With this in mind, I am going to share more about Zilswap, how to access this platform. I will also share with you how to provide liquidity pool to ZilSwap and in the process earn ZWAP as well. What is ZilSwap?Zilswap is a fully on-chain, decentralized exchange running on Zilliqa. Zilswap will be at the core of Zilliqa’s push into the decentralized finance (DeFi) space by allowing users to trade digital assets on the Zilliqa blockchain Download ZilPay WalletFirst of all, you will need to get a ZilPay Wallet. You can download it easily at https://zilpay.xyz/. For me I am using a Chrome extension for ZilPay.
How to provide liquidity?
What is $ZWAP?
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AuthorZilliqa Zebra provides news, updates, how-to, guides and all things related to the Zilliqa, the first public blockchain to implement sharding on its mainnet. Zilliqa Zebra is an ardent supporter of the Zilliqa blockchain. ArchivesCategories |