What is it?
Zilliqa seeks to provide a high throughput blockchain infrastructure to overcome current issues of scalability, as seen through the inability of better established cryptocurrencies to deal with a large influx of transactions per second. This primary issue prevents the use of cryptocurrencies for transaction utilities requiring fast payment processing.
How does it work?
Zilliqa addresses these issues by scaling with the network size through the generation of shards at graduated levels of nodes, thus increasing throughput. It’s team has previously deployed its technology through OFC trading with a regional exchange and banks, and by deploying the blockchain’s e-commerce application in shipping, with favourable results.
Zilliqa supports decentralise applications including shared economy, payment networks, parallel auctions, scientific computing, high assurance computation and most significantly, digital advertising. The blockchain based advertising supply chain integrates Smart Contracts to create more transparent advertising networks, with more open market analysis, responsible content delivery, accountability and timeliness of content delivery. To its application in the digital advertising sector, Zilliqa has partnered with Mindshare, a global media agency.
Safe and efficient consensus across the blockchain is maintained through Zilliqa’s Consensus Protocol which combines Practical Byzantine Fault Tolerance providing immediate finality and Collective Signing which provides a highly efficient multi-party signature scheme, with additional security and performance enhancements through its sharding technology. This in turn drives down energy costs for mining, lowers transaction fees and generates stable rewards with low variance.