ZILLIQA (ZIL) – Review

It is hard times at the moment as a ZIL holder, but I want to talk about my recent research on the project.

It got a lot of hype back in 2017, sentiment was good and lot of people were talking about it on social media. I will explain below why I believe it has tapered off.

What does Zilliqa do?

Zilliqa’s goal is to become a scalable Dapp platform.

They use sharding technology, which easily wins over parallel cryptocurrencies.

Currently it boasts 2,828 transactions per second on its Testnet, whereas Ethereum can’t even handle 50tps.

We will have to wait and see whether these TPS will translate to their Mainnet as a working product (as Vitalik Buterin seems to think it will not).

In the ICO at the end of December 2017 the team raised 22 million for 30% tokens. I do find it a little strange that they don’t have majority ownership of their tokens, maybe thats me be paranoid?

They were supposed to have a working product in August 2018, but they postponed their Mainnet launch to Jan 2019, so ZIL is still an ERC20 token.

Despite the delay in the Mainnet launch and them not keeping their word, I would rather they did this than release something that is buggy and unstable. But by delaying it, has hurt their credibility, investors are now concerned whether they can deliver or not.

Currently it’s just a test net, so we are left wondering whether they are able to pull off a working product.

It aims to transform how mart contracts are written, by using a new smart contract programming language they created called Scilla, similar to Ethereum’s Solidity language. They say it is not that difficult to learn, but I would imagine they might struggle to get developer adoption.

I can see that they currently have 5 Dapps on their website:

It’s hard to put a price prediction on a project in a bear market, that is still yet to launch its Mainnet. I honestly can’t put a price on it right now, but here is what a token is worth as of now:

The current Zilliqa price $0.03 or £0.02 is a 82.48% decrease from its all-time high price 6 months ago.

Zilliqa's highest price was $0.20 this was achieved on Thursday, May 10th 2018.

It's a HOLD from me, if the Mainnet launch is smooth them I pay tap in and top up my bags.

What do you guys think? Feel free to leave some comments.

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