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Reasons Why Zilliqa Holders Can Expect a Highly Profitable 2018

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Zilliqa

Zilliqa (Zil) is one of the most recent cryptocurrencies that made their way to the traders across the world. It was introduced on January 25th of this year, at the time when almost the entire market was in shambles due to the plummeting in Bitcoin’s price. It is now a well-known fact that Bitcoin is the largest cryptocurrency that currently exists in terms of both market capitalization and price. Despite these two facts, the debacle in January 2018 made this coin susceptible to volatility and various security threats thereby creating considerable doubt in the crypto-traders’ minds. Under the circumstances, making progress as a recently introduced coin is incredibly difficult for any currency. But Zilliqa made this ostensibly impossible job possible with its sui generis features.

Zilliqa was introduced as the first through-put public blockchain in the world and started making inroads right after its tokenization preceded by a successful ICO token sale. This unique feature accompanied by several others has helped this coin grabbing attention of a significant number of traders. As a result, there hasn’t been any major downfall in this currency’s price and market cap so far and Zilliqa managed to gain a commendable position on Coinmarketcap toppling many potential big guns. Here, Zilliqa Sharding, one of the most recently implemented processes of Zilliqa would be discussed along with other major advantages to accentuate the fact why holding onto this coin would be a judicious decision this year.

Zilliqa Sharding Process

In DBMS, Sharding refers to a technique of partitioning various data in a database or search engine horizontally. In this way, the fragments of a single piece of data would be stored in different locations ensuring security in case of incidents like hacking. In case of blockchain technology, sharding refers to a simple yet efficient process where mining would be fragmentized into several smaller parts known as “shards”. It is a mandatory approach to increase the scalability of a blockchain protocol.

Ethereum was the first cryptocurrency to make an endeavor to implement the sharding process in blockchain in order to get rid of malicious nodes and mitigate the difficulty in constructing a consensus algorithm. However, the randomness of these mining shards causes a communication problem. The development team of Zilliqa has been able to nullify this problem by designing a system where all the shards would work simultaneously. The sharding approach was chosen by the Zilliqa team also enables them to have a copy of the current state of every single node. The advantages that Zilliqa Sharding offers include:

  • In sharding, nodes are divided into shards. When the number of nodes increases, the number of shards also increases proportionally to accommodate new nodes within the system. As a result, the network traffic always remains free from any kind of congestion.
  • Due to less congestion, the blockchain of this cryptocurrency offers a highly scalable and fast transaction system which not only saves the time of their traders but also saves from the unnecessary wastage of electricity and expenditure.
  • Sharding makes this cryptocurrency more secure. As the mining is done in different fragments spread across different locations, it becomes nearly impossible for the cybercriminals to hack important data or currency tokens from this platform.

Notable Partnerships:

Zilliqa has engaged in several partnerships this year in order to increase their token circulation and popularity to the crypto-traders. During last month of this year, Zilliqa partnered with two other major cryptocurrencies – Bluezelle and Genaro Network. Both of these currencies offer their support to Zilliqa as a distributed backend storage provider. As a result, DApp developers now can choose a storage provider of their own preference, with the API (Application Program Interface) support from Genaro Network and Bluezelle.

Major Events:

The development team of this cryptocurrency has been extremely busy throughout this month as they have already attended several cryptocurrency meet-ups such as the World Digital Asset Summit in Singapore, Bloxpo meet-up in Stockholm, Sweden, and many more. They are also about to attend a major cryptocurrency meet-up in Singapore on 23rd May. With these events, more traders would come across this ingenious currency and its features eventually increasing its popularity.

Current State of Zilliqa:

As of 21st May 2018, Zilliqa holds the 25th position on Coinmarketcap with a price nearly equivalent to $0.15 and a market capitalization of nearly 1 billion USD. The currency continues its bullish run as both the price and market cap charts are showing a steady upward trend.

Final Thoughts:

Zilliqa possesses one of the most efficient development teams in the crypto-world and is constantly making new ameliorations for their holders. According to their latest progress report, they have improved their testnet deployment system along with making major changes to their main protocol. This coin has been able to get a position among the top thirty currencies within a few months. Hence judging by this trend it can be inferred that Zilliqa holders can be hopeful about a very profitable 2018.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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