Zilliqa ZIL and Genaro to Join Efforts for a Scalable Blockchain

Zilliqa and Genaro to Join Efforts for a Scalable Blockchain

The Genaro Network is creating the first Turing-complete public blockchain with decentralized storage. Genaro's mission includes building an ecosystem consisting of partnerships with key strategic players seeking to unlock the potential of blockchain. Genaro's collaborative moves to date have included joining associations for the crypto-economy as well as investment-centered and technological partnerships.

The latest of these collaborations represents a potential solution to the trickier problems now affecting blockchain: speed of block formation and data storage.

In April 2018 Genaro announced a forthcoming engagement with Zilliqa, a high-speed blockchain project that seeks to break through the scalability barrier and process thousands of transactions per second (TPS). Sharding allows for transactions to be processed in parallel and as the network grows larger, the number of transactions that can be processed grows almost linearly.

This approach increases efficiency in resource utilization and makes the throughput rate of Zilliqa much higher than the present transaction rate of Ethereum and other blockchains. In a recent experiment on their testnet in March 2018, Zilliqa achieved a throughput of 2,000 TPS with 1,000 nodes, while optimistic estimates for the Ethereum + Casper upgrade (which may be some way from completion) put the cap at around 1,000 TPS. With sharding, Zilliqa aims to reach throughput levels that can rival that of Visa/MasterCard. Zilliqa has released their first public testnet at https://explorer.zilliqa.com

This makes partnering with Zilliqa a promising prospect for both parties. Zilliqa's efficient sharding and high speed processing works well with the storage capacity and DAPP ecosystem of the Genaro Network. Meanwhile, as Zilliqa has been making good progress on their development, Genaro has launched Genaro Eden Beta (March 2018), which includes working storage and sharing on the Genaro blockchain. This working iteration paves the way for Genaro Eden Enterprise Edition, after which Zilliqa-based DAPP developers can potentially store their projects' structured data in Genaro, while benefitting from Zilliqa's TPS breakthrough. Furthermore, Genaro Eden will also serve as a storage solution for Zilliqa’s block data to be stored in the decentralized storage network.

The Zilliqa team has a strong research background with PhDs from top universities around the world, while the Genaro team is development-oriented with top engineers from the internet and blockchain industry. Engineers on both teams will be engaging in extensive R&D together in the near future to explore fundamental blockchain problems such as payment systems and storage privacy-preserving, searchable encryption.

For the next steps, Zilliqa and Genaro are working on linking the tokens of both projects. Zilliqa miners and DAPP developers will be able to pay for storage on Genaro in ZILs, the token of the Zilliqa blockchain. In future, the teams will work out a fair conversion rate for ZIL and GNX and on a relay with two-way pegging.

Users will be able to convert ZILs into GNXs for further use on Genaro, allowing for extra storage without additional conversion fees. Genaro users can also run DAPPs on Zilliqa by spending gas fees in GNX. The payment relay will reduce the need for token conversion and provide users in the larger ecosystem the benefits of great storage and transaction speeds at the same time.

Find out more visit : https://genaro.network