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Zilliqa (ZIL): In Anticipation of the Test Net 2.0 Release

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Zilliqa

Zilliqa, a relatively young coin, has promptly gained the attention of the crypto community, thriving both in the market and technologically while gaining a reputation of a promising coin. One of the reasons why crypto enthusiasts and investors noticed ZIL lies in the fact that Zilliqa is working on solving one of the greatest issues in blockchain technology – increased scalability.

Thanks to a unique technology called sharding, Zilliqa has gained its position among the top 30 best cryptos in the market, that way showing that a newbie on the block can most certainly surprise the competition, and even pose as a role model for achieving scalability with blockchain technology.

Zilliqa to Release Test Net version 2.0

In accordance with Zilliqua roadmap, the team behind ZIL, a team of scientists from the National University of Singapore, the official whitepaper describing the blockchain project Zilliqua was released back in August 2017, after which the result of the internal test net was announced and released a month later in September.

Zilliqa has soon shown to be more than just another coin while presenting the term of sharding, representing it as a solution towards obtaining increased scalability.

Sharding, which is a principal now being adopted by several other blockchain projects, is based on parallel operations between chains, that are in accordance with ZIL technology divided into smaller parts, known as shards.

By having shards communicating to provide parallel communications between smaller parts of chains, the network is made to be more scalable allowing around 4000 different transactions to be processed within a single second without creating jams or network cluster.

However, Zilliqa is planning on providing more to its users than “just” a prompt payment service, so that is how the team behind this asset is planning on building a large decentralized for highly scalable decentralized applications while meeting standards of the community driven by machine learning and financial algorithms.

After the internal test net results were released in September, Zilliqa announced and released Scilla, which represents another upgrade to the test net, serving the purpose of easily and securely operating with smart contracts.

Scilla has already been tested with success in invoking codes for contracts as well as tested for invoices made on the blockchain.

Scilla was released at the end of 2017, in December, introducing the community to the upcoming test net release that was scheduled for the first quarter of 2018.

Zilliqa went with releasing the source code in January 2018, that way announcing the first version of ZIL test net.

The first version of test net came out on March 31st, after which ZIL was added on more than several exchanges due today, including Zebpay exchange.

The launching of the second version of the test net was scheduled for June 30th, with the idea of slowly introducing Zilliqua to the launching of the main net, as well as guiding the community on the token migration.

The main net is scheduled to be released on September 30th, however, it seems it is less likely that Zilliqua would be able to organize the entire migration as well as testing the second version of the test net, all within the deadline of two months.

However, the exact date for the main net launch is yet to be confirmed, as the team has made it clear on their official webpage that the main net is to be released with the third quarter, without adding the specific date.

Although the date for the main net launch might not be specified, it is most certainly the case that Test Net version 2.0 will come out as scheduled on June 30th, when it will become available for public testing.

Zilliqa (ZIL) Performance

Despite the fact that the team behind ZIL is releasing the second version of the test net in only a couple of days, the latest market currents seem to be tough on ZIL as well as on the rest of its crypto peers.

After the latest change in the market, ZIL went down by -5.27% against the dollar, while trading in the red for two days straight at this point.

With the most recent drop in the market, one unit of ZIL can be traded at the price of 0.063$ with Zilliqua being ranked as the 26th coin on the global coin ranking list.

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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.

Image courtesy of Rachel via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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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…

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