The project features a high network bandwidth, which can be scaled up to 1000 transactions per second. It is based on a public open blockchain.
Other advantages, apart from the high bandwidth, include a high speed of transactions, scalability, support for dApps and smart contracts, use of the PoW algorithm only for establishing identity, and a public nature.
The sharding technology allows for increasing the speed of transactions as the network is expanding. Zilliqa is capable of processing more transactions due to adding more nodes to the network, which was virtually impossible with the blockchains of the past.
The idea of sharding is to automatically split up a large network of machines processing transactions into parallel sub-committees or “shards”. Each shard processes its own microblock in parallel with other shards, and resulting micro-blocks are merged into one last one.
Thanks to its scalability, Zilliqa can support dApps that require higher transaction rates than those currently available.
Because of its higher throughput, Zilliqa offers a more stable payout to miners. The use of the energy intensive Proof of Work (PoW) algorithm only for establishing mining identities allows for the minimizing of electricity consumption, as, unlike other blockchains, Zilliqa does not use PoW for consensus and PoW is performed only at larger intervals, not on every block. This makes the process faster and simpler.
At the same time, Zilliqa does not use the Proof of Stake scheme, as its developers consider it to be poorly studied and in need of further exploration.
The Fund invested in Zilliqa because it has a very strong team of developers, provides the maximum use of the token on the platform, and is one of the first breakthroughs in using sharding as a scalability solution. The project is still in its infancy. We are waiting for the launch of the mining network and an increase in the value of the tokens.