IntroductionIn this Part 2 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. - Relationship of Sharding and microblocks - What is DS epoch? - What is Byzantine Fault Tolerance (BFT)? - What is ZIL coin? - When was the Zilliqa ICO? - When was the launch of Zilliqa mainnet? - Why is mining of ZIL ecological? 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. Relationship of Sharding and microblocksWith sharding, each shard will be broken into "microblocks". When all of these shards have successfully finished their jobs in processing these microblocks, they will be mixed back into one single full block. This process is named DS epoch. On top of the sharding and DS epoch processes, Zilliqa also combines the concept of Byzantine Fault Tolerance (BFT) and the standard mining algorithm Proof of Work (PoW). What is Byzantine Fault Tolerance (BFT)?With sharding, each shard will be broken into "microblocks". When all of these shards have successfully finished their jobs in processing these microblocks, they will be mixed back into one single full block. This process is named DS epoch. On top of the sharding and DS epoch processes, Zilliqa also combines the concept of Byzantine Fault Tolerance (BFT) and the standard mining algorithm Proof of Work (PoW). What is ZIL coin?Let's now dive into Zilliqa’s native cryptocurrency, ZIL coin. Well, ZIL’s use case in the Zilliqa blockchain is more or less the same as how ETH is being used in the Ethereum network. It acts as an incentive to pay for transaction fees as well as for contract execution. On top of that, the ZIL coin also acts as an incentive to pay the miners. When was the Zilliqa ICO?The month-long Zilliqa ICO started in December 2017 and raised $22,000,000. At this time, 30 percent of the token supply was distributed to early and community contributors, 30 percent was held by the development team, and 40 percent was set aside as mining rewards. When was the launch of Zilliqa mainnet?With the launch of Zilliqa's mainnet in January 2019, Zilliqa became the first public blockchain platform in the world to successfully utilise sharding as a scaling solution. Why is mining of ZIL ecological?ZIL will be mined using a hybrid Proof-of-Work consensus protocol, which as mentioned above, won’t be the typical PoW blockchain.
Thanks to Zilliqa's consensus mechanism, the ecological footprint of mining has considerably been reduced. 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. We hope you have found this explainer video useful. Do continue watching at part three of this mini youtube series!
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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 |