The Zilliqa (ZIL) project has fascinated many crypto and blockchain enthusiasts for the team has introduced two new concepts as they develop the platform. The first one, is the concept of sharding that aims at scaling the throughput of the network as it grows with time. The concept of sharding divides mining activities on the network and allows for transactions to be processed in parallel rather than one at a time. The throughput increases as more miners join the network. At the moment of writing this, the Zilliqa Testnet has accomplished 2,828 transactions per second with only 6 shards.
Secondly, the project introduces the new programming language of Scilla that is meant to be easier to use than Ethereum’s Solidity. This new programming language has been specifically created to solve the previously seen Ethereum smart contract vulnerabilities.
Mainnet Launch Date
The team at Zilliqa had earlier on in the year announced that they were postponing the launch of the Mainnet to December this year or January next year. The exact date has not been announced but excitement is building up as we approach the end of the year. Therefore, let as explore the value of ZIL as we approach this time period.
Price Predictions By the Zilliqa Community on Reddit
The month of December is also significant in the sense that it is when Bakkt will launched. Therefore, ZIL might become a beneficiary of the excitement surrounding the new Wall Street firm that plans on bringing Bitcoin and crypto to the mainstream of investing.
This then brings us to price the predictions from the Zilliqa community on Reddit. In the informative thread, we get a range of between $0.30 and $1.50 based on the contributions of users on the thread. The range provided by the ZIL Reddit community is hinged on the fact that the platform will see massive adoption due to its superior Mainnet and a high throughput.
One Redditor had this to say about the factors affecting the price of ZIL:
If BTC continues to recover and ZIL releases a main net that is secure and consistently producing 2k+ TPS, the price has a decent chance to go to $.30 by the end of the year.
The next big thing is obviously adoption. The price long term will likely live and die by it’s real world usage. If developers begin to turn to ZIL in big numbers, the sky is the limit. A big if, but I’m excited to see where we are in a year or two.
What are your thoughts on the Zilliqa project and the future value of ZIL? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Crypto Crimson or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.