Connect with us

Blogs

Zilliqa (ZIL) rises as Ethereum fails to answer

Published

on

Zilliqa Ethereum
READ LATER - DOWNLOAD THIS POST AS PDF

Zilliqa (ZIL) is a blockchain project and cryptocurrency that, despite its young age (it was started only last August) is gathering attention and gaining users. 

The token is based on Ethereum’s ERC-20 technology, but it’s independent of the Ethereum network as it was introduced precisely to address some of the Ethereum environmental problems (scalability and price). 

Besides the crypto-coin, Zilliqa aims to be a blockchain-based operating system in which decentralized apps can be developed in a way similar to Tron and EOS.

Zilliqa smart contracts are written using their proprietary Scilla ( a programming language), and the network also uses sharding technology, which is a protocol that breaks a calculation down into smaller pieces that can be solved parallel in a node’s sub-network so that transactions and block elements can be computed more quickly. If this doesn’t impress you very much then know this: it’s one of the few digital assets currently trading in green numbers.

Ethereum is bleeding users and developers to Zilliqa

Overstating Ethereum’s importance in the cryptosphere is hard. Several essential blockchain projects started running over the Ethereum blockchain and the ERC-20 before they became independent (Tron and EOS are the best-known examples). But there is a reason why those projects choose to develop their blockchains and leave Ethereum behind.

One problem with Ethereum is the gas price, it keeps going up, and it makes it expensive to create and use apps that run over Ethereum. The other problem is scalability. 

The network is slow compared to the most recent blockchains available. Zilliqa still uses an ERC-20 token, but their technology is designed to deal with those very problems. It’s very cheap, and it’s swift, and those advantages are attracting current Ethereum users and developers.

Take the Etheremon example, which is sort of Pokémon-go clone that runs as a decentralized game on the Ethereum (ETH) platform. Current fees on Ethereum are becoming so high that they are starting to ruin the fascinating experience of gaming. Etheremon is dealing with this issue by moving a portion of the game to Zilliqa, which pushed Zilliqa’s price up. Ethermon’s blog published this in its official Medium blog:

“Long-term solution, we are glad to announce that we will work with the Zilliqa team to explore Zilliqa as a scalability solution to Etheremon. The Higher throughput and low gas of Zilliqa’s sharding solution offer players a better experience.”

More competitive transaction fees

Ethermon’s solution is something of a band-aid, it cannot last for long. Currently, the transaction system runs on Zilliqa while the game engine is still on Ethereum which is not sustainable, but the developers have not yet announced for how long this will remain as it is.

Not too long ago there was another game (CryptoKitties) that taxed the Ethereum’s network performance hard enough almost to paralyze it. 

It goes without saying that this is not how you attract investor confidence, new users and new demand for a crypto coin. The scalability issues are quite severe, and they have not been addressed. Even worse: now there’s a lot more competition in Zilliqa, Tron, EOS, and others.

Zilliqa (Zil) is rising

Real-time performance is of capital importance in entertainment and gaming applications, and Ethereum just can’t handle them anymore. But Zilliqa can. And it’s even faster than EOS and Tron while keeping things secure.

Ethereum’s will keep being the dominant platform for decentralized games for a while yet. There’s no way around it, they have been around for too long, and it’s going to take some time for other games to migrate their products into different blockchains. 

But as games that run over the blockchain multiply and become more popular, the battle of the providers will grow in intensity and, as things stand, it’s one that Ethereum cannot win long-term. That is Zilliqa’s gain.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Maxpixel.net

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite