Zilliqa is a blockchain platform for decentralized apps under development attempting to address blockchain scalability primarily through sharding. The development of the platform was inspired by Elastico, a sharding protocol developed at the National University of Singapore. On October 12, 2017, Zilliqa claimed to have developed a testnet with sharding capable of processing 2,488 transactions per second. Zilliqa tokens are called Zillings (ZIL).
Zilliqa token generation event allocated 30% of ZIL tokens to community contributors, 30% for development of the project, and 40% for as incentives for miners to secure the network. Zilliqa delivered the keynote presentation at the SGInnovate conference on October 5, 2017.
It uses practical byzantine fault tolerance (pBFT) consensus as opposed to Nakamoto consensus protocol used by other cryptocurrencies like Bitcoin. Benefits of pBFT include more secure state finality once consensus has been reached on a block.
Each shard produces microblocks, confirmed by the nodes in that particular shard, which are then passed up to a DS committee. The committee verifies that 2/3 of the nodes produced valid signatures for the correctness of the block. Thus the DS committee nodes run another round of pBFT consensus in order to validates the block.
The shard which a specific node joins is determined at random in order to reduce the ease of collusion on any specific shard.
Zilliqa uses Schnorr signatures in order to reduce the size of digital signatures in order to address an issue in pBFT where digital signatures expand in size due to larger amounts of shards.
There is a finite total supply of 21 million tokens ZIL tokens. The Zilliqa consensus protocol uses a proof-of-work system to deter Sybil attacks or DDos attacks. The architecture also allows for the possibility of transition to a proof-of-stake system in the future.
A Secure Sharding Protocol For Open Blockchains
Loi Luu, Viswesh Narayanan, Chaodong Zheng, Kunal Baweja, Seth Gilbert, Prateek Saxena
Details on Zilliqa’s Token Generation Event
The ZILLIQA Technical Whitepaper
What Is Zilliqa?
Zilliqa Breaks 2,400 Transactions per Second with their ‘Sharding’ Blockchain
Zilliqa: Hello World!
Documentaries, videos and podcasts
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- ShardingSharding is a scaling technique for databases in which data is partitioned into smaller chunks where it can then be stored across multiple distinct servers.
- Smart contract (blockchain)A smart contract (self-executing contract, blockchain contract) is an agreement between parties that is enforced by a program encoded onto a blockchain which executes code exactly as originally written.
- Proof-of-work systemA proof-of-work (POW) system (or protocol, or function) is an economic measure to deter DOS attacks and other abuses (e.g. spam) on a network by requiring some work from the service requester, usually meaning processing time.
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