What Is Zilliqa (ZIL)? Solving the Blockchain Scalability Challenge
Blockchain technology is breaking all the boundaries each year so much that even critics are forced to take back their negative statements. However, this incredible technology still has a long way to go.
The main flaw that’s been keeping them on a leash is the scalability issue. Many developers proposed a great solution, but none of them could break the chain.
As blockchain technology is becoming more and more popular nowadays, the number of transactions is also increasing. The technology is growing at an exponential rate. As a result, the transaction rate is slowing down drastically. Why?
Well, it’s because blockchains have a certain number of transactions that they can process without any problems. So, if you add more nodes to the whole network, the process becomes weak. Thus it’s unable to maintain the exact amount of scale needed for faster transactions.
So, if blockchain technology wants to revolutionize the world, it has to get rid of or at least minimize this adverse effect. This is where Zilliqa (ZIL) comes into play.
So, what is Zilliqa (ZIL) and how is it able to solve this massive problem?
Zilliqa introduces a new technology by utilizing network sharding. This will significantly increase the number of transactions per second, thus solving the scalability issue.
Want to know more? Let’s see what is Zilliqa (ZIL) and this newly introduced method now, shall we?