Zilliqa (ZIL) Price Prediction 2022-2030

What is Zilliqa? 

Zilliqa (ZIL) is a Singapore blockchain infrastructure designed to create Smart contracts and decentralized applications. At the beginning of its development, ZIL adopted the Ethereum blockchain network before launching on its platform.

The token stayed on ERC20 until 2019, after 2019 all tokens were transferred to the new blockchain. (At the moment, the coin is powered by Zilliq's native blockchain technology).

Architecture ZIL is based on the parallelization of tasks for the distribution of work and computing within the network in a peer-to-peer network.

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Zilliqa solves the scalability problem using a technology called "shards" (The definition will be later in the article). This cryptocurrency is the first platform that uses "shards".
Due to the newly-used technology, this aroused great interest among traders and users.

According to the coin's website, they are trying to transform and catalyze digital infrastructure in all sectors of the world. They intend to achieve this by using a "silicon-smooth, fast and economical" blockchain.

In 2017, private financing in the amount of $20 million occurred, this would have helped the coin not to use the initial coin offering (ICO), which is for the development of the platform, but the development team decided to launch an ICO anyway, because a lot of people wanted to participate in the project. ZIL ICO raised $22 million in the period from December 22, 2017 to January 4, 2018.

ZIL technology

Ensuring high scalability indicators in a decentralized network is not an easy task.
The developers say that the Sharding technology they have developed is able to overtake even the fastest banking systems (Master Card, Visa).

Nodes are needed to verify and confirm transactions, the number of nodes directly depends on the number of transactions.

Shards is a technology that allows you to divide information into blocks and distribute it among groups of nodes in blockchain networks, thereby increasing the speed of transaction processing. These node groups are called "shards". Shards has been around for a long time, but Singapore developers first put it at the heart of the work of a decentralized environment.

The principle of operation is not very complicated. The future block of transactions is divided into so-called "microblocks”, each of which goes to shardam processing. Each shard performs its part of the work, after which the verified microblocks are connected back into a full-fledged block, which is recorded in the blockchain. This process is organized by the DS Committee, whose composition is determined by an algorithm based on random selection. The committee is responsible both for the distribution of transactions to shards and for the formation of the final block.

The developers of Zilliqa do not use any existing algorithm in its pure form, they have created their own unique hybrid solution based on Proof of Work (POW) and Byzantine PBFT fault tolerance. At the same time, most of the work is done by the latter, the first one is only used to check data, nodes.

"Bang." On the other hand, using PAHs only for data verification saves ZIL from such a disadvantage as high energy consumption of mining, which is characteristic of many cryptocurrencies, Bitcoin is in first place in terms of energy costs.

Zilliqa Functions

• A means of exchanging monetary assets.
• Currencies for payment of transaction fees and smart contracts.
• It can serve as a reward by the miner for some achievements/merits.
• The base reward is 25% of the total reward and is given for all nodes and shards.
• Flexible remuneration is 70% of the total amount and is given for valid and accepted signatures.

Advantages and disadvantages

The Zilliq cryptocurrency is a unique coin, so it has several advantages that do not exist with other coins.

An effective solution for network scalability - developers used sharding technology for the first time to increase transaction processing speed. In addition, according to the results of the experiment, this indicator is growing exponentially to the number of nodes in the network.

Energy efficiency of mining - Verification of transactions and creation of new blocks does not require a large amount of energy resources, as it is, for example, relevant for bitcoin.

A strong team - the ZIL project is the development of scientists from the University of Singapore, and this already says something. In addition, the management team includes specialists who have received a doctorate from the world's leading universities.

The longevity of the project - the Zilliqa blockchain was launched two years before the ICO, and this is a strong argument in favor of the seriousness of the developers' intentions against the backdrop of many "one-day projects” that have flooded the cryptosphere in our time

Obvious drawbacks that you can pay attention to in Zilliq are absent.
Purchase and mining of Zilliq (ZIL)

Zilliqa is one of the most famous companies in the crypto market, so ZIL can be bought on almost any crypto exchange, for example on Binance, Bitrex, nice, OKEx, HitBTC, etc. You can buy Zilliqa both for cryptocurrency (bitcoin, in ETH, USDT) and for fiat - Euro or dollar.

Since the beginning of 2020, when Zilliq tokens were transferred to the cryptocurrency mainnet, coins can be stored on wallets. The most popular are the Trust Wallet, Atomic Wallet. Wallets designed specifically for Zilliq - ZilPayVallet and Zillet. (The full list can be viewed on the official website)

The coin can also be mined using mining. The Zilliqa client is officially available only for Ubuntu OS. You can mine both on a processor, a computer graphics card, or use cloud mining. The miners of this coin are attracted by the fact that during downtime, the equipment can switch to mining any other cryptocurrencies. It is dual mining on pools in the case of ZIL. The costs at the beginning and during the mining process are not so great compared to other currencies, because Zilliqa uses a Pah algorithm that allows you to greatly reduce energy costs.

Zilliqa chart for recent years

It is still difficult for the coin to connect to other tokens. ZIL is still showing the risk of segments of the structure in the last few days, the coin may have strong fundamentals, but we don't think it will be a profitable asset in the short term.

2021 is the best time for the coin, at least its beginning - the coin has already updated the historical maximum and has the potential for further growth. From the autumn of 2020 to the peak in May 2021, ZIL grew by 1000%, and the growth since the beginning of 2021 was 200%.

The experiments carried out by the ZIL team in the test network showed that this approach really works and if there are enough nodes, scalability growth is not limited by anything.

Graph for ZIL 2020 - November 2021:

Following the BTC price trends, ZIL price declined after the spring 2021 peak and then experienced a couple of new spikes in August and November. The following two months saw a decline. However, this decline is just an echo of the entire crypto market downfall and doesn't mean that Zilliqa is to blame for the decline of its price. ZIL is one of the altcoins that have all chances to grow bigger in the future.

By the end of 2022, the coin will reach a maximum of $0.072 at an average rate of $0.066. In 2023, the price of ZIL coin will cross the 10 cents mark. In 2024, it might reach from 12 to 15 cents per coin. At the end of 2025, the experts expect the price to reach up to $0.24. According to a number of forecasts, the ZIL price will continue to gain 100% - 140% in value every two years. By the end of 2030, it can hit the maximum of $1.57.

Please note that any investment involves a certain risk. Just invest in what you can achieve, before making any contribution, do as much market research as possible.