Zilliqa (ZIL) –Ethereum (ETH) –With its relative stronghold in the industry, the blockchain had come a long way to reposition activities on the cyberspace. Powered by consensus algorithms, it gets implemented through the distributed ledger technology (DLT).
Feelers have emerged that the platform might have been overrated as it failed at intervals. Transactions at some point got hitched. Same way, attacks became the order of the day especially after the hash power for mining became more powerful. This led to the development of more blockchain platforms such as Ethereum and EOS.
Each came with its evangelism of scalability, but the reverse consistently became the outcome. Would it then be an act of faith to accept more blockchains such as what we have here on Zilliqa or will such actions amount to misguided perceptions? Perhaps we have to see what Zilliqa has to bring to the table before making it a sacrificial lamb.
Zilliqa’s Hay Days – The Testnet Perceptive
Perhaps why the folly on previous blockchains sprang up were because of immediate implementation. Zilliqa took time in its development, and as it achieved some reasonable scale, it embarked on a test-run (Testnet).
The coin was able to attain about 2, 500 transactions per second during its pioneer Testnet. This was run using 3, 600 nodes on a six-network shard.
This notably formed the basis of its launch and implementation. To have attained such rates during its formation period says a lot about what it can do in later years.
The Sharding Technology: Zilliqa’s Scalability Powerhouse
Zilliqa has its primary aim of bringing more scalability to the blockchain. Information from many quarters posits its similarity to Ethereum. In the news, analysts have touted its prospect of literally overthrowing Ethereum.
Whether these assertions hold any water remains to be seen though there are indications that Zilliqa will perform better than Ethereum (its Testnet is an example).
Zilliqa opted for a new mining process – sharding. It seems dependency had been placed much on nodes for transaction processing. Consensus algorithms on their part are bearing the brunt of achieving thousands of transactions per second. This perhaps is a deviation from the imprints of the distributed ledger technology.
Zilliqa deploys sharding for its mining. Here, calculations are made on expected transactions to be processed at a given time. Ethereum has about 30 thousand nodes for its mining. Zilliqa hopes to scale this as its mining networks will be higher than Ethereum’s especially after putting its concepts into consideration.
The sharding technology comes in handy in the division of Zilliqa’s mining networks. Known as Shards, Zilliqa’s mining networks are divided into small groups that’ll be under a general agreement of working at same time. The idea is to make mining and transaction per second rates faster than before.
Processing millions of transactions each second is quite hard using the traditional mining network model. With the Sharding technology, mining powers are re-distributed to other sub-components of the leading mining network. If Ethereum was processing 100, 000 transactions per second, Zilliqa will give a triple throughput for same. The comparison is to state Zilliqa’s higher scalability emphatically.
Zilliqa was patterned in transaction rate format. The more transactions are coming up, the more shards are being created and the more scalability it attains.
PoW Consensus Algorithm: Zilliqa’s Borrowed Leaf
As many had posited, Zilliqa is an upgrade to Ethereum. It is therefore imperative that some features of the former will be brought to bear on the latter. One out of many borrowed leaves from Ethereum was its Proof-of-Work consensus algorithm.
The confusion here is why Zilliqa will chew on its words of making Ethereum non-existent by using its consensus algorithm. A defense by its team specified the reason for this. To protect its platform, Zilliqa opted for Ethereum’s PoW consensus algorithm because of its supposedly top-notch security.
The PoW consensus algorithm will feature in the protection of the platform against Sybil attacks. Zilliqa also borrowed Ethash, another of Ethereum’s PoW constituents. Ethash is to be used in Zilliqa’s mining network especially in its GPU.
A Better Smart Contract
Smart contracts are there for transaction processing, tracking and overall security of the blockchain. At the moment, there has been a paradigm shift from the traditional unique smart contract programming language to acceptance of conventional programming languages such as C++ and Java.
Zilliqa features an impressive smart contract for faster computation. Its smart contract was designed as a dataflow. The idea is to present computations graphically with alternations between nodes being the output and input of nodes on the graph. Nodes on Zilliqa’s smart contract represent transactions on the platform.
Zilliqa’s A Great Coin
Zilliqa has proved to cryptocurrency enthusiasts that it has the leverage to outperform Ethereum. Distribution and creation of sub-nodes for mining is a great idea. This will facilitate mining at a faster rate just as transaction rates will soar high.
Though still in its early years, foresighted investors have keyed into its vision. Currently, Zilliqa is being used as a payment tool in many scenarios. It would be wrong to compare Zilliqa to Ethereum; the latter does not have the leverage the former has. Zilliqa processes faster and has better security approaches than Ethereum.
Though the use of sharding technology accrues more disk space, Zilliqa with its integration of Ethash, will have enough space to accommodate as many sub-mining networks that’ll come up in later years.