A previous article by Global Coin Report had put the case of Ethereum (ETH) being able to withstand the Tron (TRX) and EOS (EOS) MainNet onslaught. The reasons for ETH being the King of Smart contracts, and firmly at the number 2 spot according to market capitalization, were outlined also in the opinion piece less than two days ago.
The first reason why Ethereum would weather the onslaught brought about by TRON and EOS was that the Ethereum platform was time-tested. There was also the idea that with sharding being introduced in the ETH platform, Crypto Kitties and other animal DApps will no longer slow down the ETH platform.
A second reason why Ethereum would weather the storm of the two MainNets was that EOS had recently been exposed to a major security vulnerability and the TRON foundation offering a $10 Million bug bounty reward to any developer or team of developers, that would find any security issues in its MainNet. This means that both projects are not 100% ready to take on Ethereum.
But in comes Zilliqa (ZIL) with the Scilla Programming language as well as already demonstrated sharding on the currently live Testnet. The Scilla programming language is developer friendly. The developers need not learn a new programming language such as Solidity. Also to add is that Scilla is blockchain agnostic in that it can be integrated to any other existing platform. This is some flexibility that has been unheard of in the blockchain. Perhaps Zilliqa can eventually spearhead the much-discussed interoperability between blockchain platforms that Ripple has been working so hard to achieve.
Smart contracts on Scilla can also be verified before the smart contracts are launched. This way, developers can put them through rigorous tests to check vulnerabilities rather than waiting for them to be discovered as was the case with the Parity incident on the Ethereum platform.
One thing that is unique with the Zilliqa project, is that Sharding has already been tested and demonstrated during a meetup in Singapore. In the demonstration, the team managed to have 6 shards that could perform 2,828 transactions per second. The increment in tps (transactions per second) on the platform, is in a linear manner and the processes will not be interrupted if one shard is attacked. The platform is robust and solid.
Last but not least, the ZIL MainNet will be launched in the third quarter of 2018. We are in the early days of the third quarter right now and anticipation is high within the crypto community with respect to the MainNet launch. ZIL has also been predicted to be valued at $6 by the end of the year.
Therefore, and in summary, Zilliqa is indeed the Ethereum Killer and not Tron or EOS.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
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