When was ZIL coin issued? Learn about the origin of ZIL coin in one article

ZIL Coin, launched in 2018, revolutionized the cryptocurrency market with its sharding protocol, significantly enhancing scalability and transaction throughput.

Oct 31, 2024 at 12:30 pm

ZIL Coin: A Comprehensive Guide to Its History

1. Genesis: The Birth of ZIL Coin

ZIL (Zilliqa) was officially launched on June 28, 2018, as an ambitious blockchain project designed to tackle scalability challenges. It marked a significant milestone in the cryptocurrency landscape.

2. Inception: The Zilliqa Project

The concept of Zilliqa originated from a team of researchers at the National University of Singapore. The project's primary objective was to create a blockchain platform capable of processing a high volume of transactions efficiently.

3. The Sharding Mechanism: A Key Innovation

Zilliqa's most revolutionary feature is its sharding protocol. Sharding divides the network into smaller, manageable segments, allowing multiple transactions to be processed simultaneously. This innovative approach significantly increases the platform's scalability and throughput.

4. The GZIL Reward: Fueling the Ecosystem

Alongside ZIL, the Zilliqa network introduced a secondary token known as gZIL. gZIL holders receive rewards for participating in the network's governance and staking processes, incentivizing users to support the ecosystem's growth.

5. Mainnet Launch and Beyond

After a successful testnet phase, Zilliqa launched its official mainnet on June 28, 2018. Since its inception, the platform has undergone continuous development and improvements, adding new features, partnerships, and integrations to enhance its utility.

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