What is Zilliqa & How to Exchange ZIL at the Best Rates?

In the period between March & April as well as in November 2021, the industry recorded some of the highest cryptocurrency prices to date. Zilliqa Coin, for instance recorded immense growth when benchmarked against top cryptocurrencies such as Bitcoin and Ethereum. In Q1 2021, Zilliqa’s price grew by 116% while its market cap grew by 112%. In this article, we are going to take a closer look at what Zilliqa Coin is, its future, and how you can find the best price to exchange Zilliqa.

What is Zilliqa and how to exchange Zilliqa at the best rates on Swapzone?

What is Zilliqa?

Zilliqa is a Singapore-based third-generation blockchain project created by a team of renowned scientists and entrepreneurs. Its aim is to solve some of the problems that affected its predecessor blockchains such as Ethereum & Bitcoin. One of the major problems that Zilliqa tries to solve is the issue of scalability.

Scalability is the ability of a digital asset to deal with large amounts of transactions without slowing down. The Zilliqa team hopes to solve the blockchain scalability problem of the blockchain with a system known as sharding. This process makes network process transactions faster. We’ll discuss everything you need to know about sharding in the next section.

Zilliqa (ZIL)

Key Features of Zilliqa Coin

Compared to centralized data storage platforms such as Google or Visa, most blockchain networks remain safe given their decentralized nature. To hack a blockchain platform, you would need to control more than 50% of the nodes on it. To prevent this, the Zilliqa cryptocurrency comes packed with many security features. However, Zilliqa is more than just security, let’s look at the lot of its key features that users love:

  • Network Sharding

Network sharding is splitting blockchain nodes into different subgroups known as shards. Each shard processes and achieves consensus on a subset of transactions. This network sharding protocol leverages proof-of-work to prevent Sybil attacks and perform sharding

  • Secure & Efficient Consensus Mechanism

The Zilliqa platform uses a secure consensus algorithm that’s based on the idea of BFT (Byzantine Fault Tolerance). BFT ensures that the shards remain definitive and in sync, thus reducing the amount of time needed to make confirmations.

Key Features of Zilliqa Coin

  • Friendly Smart-Contract Language

Zilliqa introduces a new & friendly coding language known as Scilla with syntax similar to Solidity, thereby, making it easy for programmers to develop custom smart contracts & design Zilliqa dApps.

  • Profitable Mining

The Zilliqa network reduces the miner’s cost of processing a transaction while simultaneously reducing the transaction fee for every transaction. Since the number of transactions being processed per second will be significantly higher, competition will be less intense.

  • Near Feeless

ZIL fees are equal to 0.011$ which is 227 times lower than Ethereum.

What is Zilliqa and how to exchange Zilliqa at the best rates on Swapzone?

ZilSwap and ZilBridge

In October 2020 Zilliqa launched its own ZilSwap – decentralized exchange allowing to swap ZRC-2 tokens. The DEX is built by Switcheo which made it fully on-chain and integrated constant product AMM. This feature makes ZilSwap similar to the renowned Uniswap. The platform also has the native governance token $ZWAP.

On September 30, 2021, yet another significant milestone was announced by Zilliqa team: the much-awaited ZilBridge went live. ZilBridge brought user possibilities to bridge assets from ETH mainnet to ZIL mainnet. However, since Zilliqa strives for interoperability, the opposite bridge of ZRC-2 assets to Ethereum is also possible.

ZilSwap and ZilBridge

What can I do on Zilliqa?

As ZIL website states:

“Zilliqa is about the power of possibilities”

This is undeniably true, therefore, there are plenty of things you can do in the Zilliqa ecosystem:

  • build dApps
  • create own tokens
  • earn eco-friendly rewards
  • create, buy and sell NFTs
  • use myriads of useful dApps already existing on Zilliqa

What can I do on Zilliqa?

Future of Zilliqa

The market remains completely unpredictable and trying to figure out the future of Zilliqa is a bit tricky. However, if 2021 has taught us anything, it is that the future can be very rewarding. Many industry experts are of the opinion that Zilliqa has a bright future ahead given ongoing developments within ZIL’s ecosystem.

Some recent keynote Zilliqa partnerships include:

  • Shopping.io (SPI): SPI has partnered with Zilliqa to allow Zilliqa holders to spend their tokens on popular eCommerce platforms such as Amazon, Walmart, eBay, etc.
  • Foreign Exchange Clearing House (FXCH): FXCH hopes to provide SWAPs to traders who want to benefit from trading assets while boosting the liquidity of the ZIL.

Most experts remain bullish on ZIL’s future price citing that it may hit new heights. Although this is dependent on whether or not it goes mainstream or if investors decide it’s a good investment. TradingBeasts predicts that Zilliqa’s price might hit $1.15 by end of 2022. WalletInvestor also remains optimistic on prices, citing that it’s possible for the price to hit the $0.162 mark.

What is Zilliqa and how to exchange Zilliqa at the best rates on Swapzone?

Why is Swapzone the Best Place to Exchange Zilliqa?

The market is full of so many Zilliqa exchanges today. However, if you’re looking for the best place to exchange Zilliqa crypto, then Swapzone is the best solution for you. It offers a myriad of awesome cryptocurrency pairs such as Zilliqa/ETH just to mention a few. Additionally, it’s the best Zilliqa exchange in the market today.

Here’s how you can exchange Zilliqa on Swapzone:

  1. Open the Swapzone website.
  2. Head on to the select pair tab and choose the type of cryptocurrency and amount you wish to exchange.
  3. In the “Get Up To” section, select Zilliqa (ZIL).
  4. Once you enter all the correct details in the tabs, you should now see the exchange rate and the different offers displayed on Swapzone.
  5. At this point, you can sort out the different offers such as transaction time or price.
  6. Once you have gone through the offers and found one that you fancy, simply choose it and click on “Exchange”.
  7. From here, enter your relevant wallet details and click on “Proceed to Exchange”. This will complete the transaction.
  8. At this point, just wait for the deposit to be processed and the exchange service to complete.
  9. Once the transaction is complete, rate the exchange partner and leave an honest review. Viola! Your Zilliqa exchange is complete.

And for the visual learners, check out our video guide on Zilliqa exchange process:)

 

What is Zilliqa and how to exchange Zilliqa at the best rates on Swapzone?