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Zilliqa (ZIL) Reveals New Partnership While Presenting Scilla for Smart Contract Security

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Zilliqa

Zilliqa (ZIL) made an amazing progress for the past couple of months since it was officially launched and has managed to climb to the 25th spot on the global coin ranking list. ZIL also went past 1 billion dollars in its market capitalization. In addition to its most recent success, Zilliqa dev team decided to present their solution for smart contract security on a private meetup that was organized yesterday on May 23rd, in Singapore. Dev team presented Scilla on this occasion, showcasing scalability of a blockchain platform at its best.

Meetup in Singapore: Zilliqa Presents Scilla

What made Zilliqa climb to the top in the course of only a couple of months is most probably the concept of sharding that can be originally found in its whitepaper, prior to being launched as a part of the system of ZIL test net.

Thanks to this concept, ZIL made it possible for parts of the chain to be easily scaled to a smaller portion of the network, that way making this platform scalable and thus faster when it comes to performance.

That is exactly how Zilliqa makes possible for thousands of transactions to be processed in only a single second, making it one of the fastest blockchain operating ecosystems currently available.

The concept of sharding also interested Vitalik Buterin, so Ethereum’s first man is considering on using sharding so that Ethereum network could adopt more scalability which would consequently result in faster traffic and less time for processing transactions.

Sharding, alongside with presenting partnerships and Scilla language was one of the reasons Zilliqa held the mentioned meetup in Singapore. However, the greatest portion of attention went straight to the presenting of the newly announced language that Zilliqa is using of providing maximal security for their smart contracts.

That is how all invited guests could witness a live demonstration of sharding and smart contract operations with Scilla.

Zilliqa: Scilla and the Smart Contract Security

Zilliqa was launched not so long ago, prior to being created by a team of academics from the National University of Singapore, as a way of providing the best solution for scalability issues.

As it is not a secret, many blockchain networks that are powered by top tokens and coins have troubles with finding a way of solving the problems they have with scalability.

That means that in the lack of scalable solutions, big platforms like Ethereum can face many forks, have difficulties with fixing bugs and implementing updates into the system, as well as having issues with jammed traffic, slow time for processing transactions, and of course there is a fear that investors might lose their interest in the technology that can’t be fixed or manipulated with.

That is how Zilliqa came up with the sharding protocol, alongside with introducing the public to the new coding language Scilla.

ZIL dev team uses Scilla for their smart contract operations, claiming that this programming language enables maximal security for smart contracts.

The team decided to focus on providing smart contracts with security because they have previously concluded based on the extensive research that over 34.000 smart contracts suffered from various attacks, thus concluding that smart contract protocol generally makes up for a rather vulnerable asset.

Scilla, as it represents a coding language prone to bugs, can protect smart contracts from any attack and illegal manipulation by fixing the previously found and analyzed security issues.

Zilliqa and Mindshare Partnership

Besides from presenting a live demo of Scilla coding language and sharding protocol, Zilliqa dev team talked about their latest partnership, which concluded the meetup as a very successful introspective of Zilliqa.

Although not more than 3 months old, ZIL makes up for an amazing solution for scalability and smart contract security, addressing the biggest problems known to blockchain ecosystems and providing solutions for such issues.

Apparently, Zilliqa has partnered up with Mindshare, a creative company that meets the goals that ZIL has for the future development.

In the spirit of the announced partnership, Zilliqa will be awarding 5 million dollars for different projects that should be developed on their network.

Given the fact that Mindshare is actually a marketing company, Mindshare will use Zilliqa platform for marketing campaigns of two different companies presented by Mindshare.

How is Zilliqa doing at the Current Moment?

After four days of trading in the red, we can still see the market plummeting with the recently adopted trend.

Although Zilliqa seems to be thriving during the course of the last three months since it was first launched as an ICO, we can now see ZIL dropping against the dollar.

After the latest change in the market, ZIL has dropped by -10.78% against the dollar, while it is also dropping against ETH and BTC by over -1% and -4%.

Following the latest change in the market, ZIL can be traded at the price of 0.11$ per one unit.

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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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