Zilliqa

Zilliqa

 ZIL

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.

Zilliqa Exchange Rate

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.

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.

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.

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.

What can I do on Zilliqa?

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

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.

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:

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

Popular pairs to convert Zilliqa

Frequently asked questions

What is the Zilliqa exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Zilliqa?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.