- There are more preparations in the Zilliqa network even after the Mainnet Launch
- A new report gives details of the new developments initiated to realize the full potential of the Zilliqa Mainnet project
- The Mainnet still requires more upgrades starting with its Scilla language
On January 31st 2018, Zilliqa became the world’s first cryptocurrency to successfully implement sharding when it launched its Mainnet. The team has now issued a new report detailing the bootstrap period that the platform is currently on and what to expect in the coming days.
First to implement sharding
The team at Zilliqa worked for over a period of eighteen months to make engineering and scientific progress by continuously updating and refining their protocol to prepare for the Mainnet launch to deliver high performance, security and scalability. The CEO of Zilliqa projects that after the launch, Zilliqa was moving towards their vision of providing block chain powered solutions to real world problems. Now that Zilliqa is the first blockchain platform to implement sharding, it will pose a significant challenge to other platforms regarding scalability.
Security has been a main concern for Zilliqa leading up to the Mainnet launch to ensure a robust, smooth and seamless launch. The Mainnet has thus integrated various protection mechanisms and settings to combat any attacks – after the launch, the Mainnet is in the bootstrap phase (no valuable transactions taking place) and the low hash power makes the system susceptible to attacks. Some of the core features of Zilliqa’s Mainnet include: sharding – supports transaction sharding for both regular transactions and smart contracts; dual and eco-friendly mining – alongside Ethereum; safe smart contracts – using their own language called Scilla; and low variance in Block rewards – an incentive to reward miners.
Main takeaways of the Launch
The main focus of the Zilliqa Mainnet launch is to provide good solutions for real world problems, and to demonstrate the power of the blockchain technology. Now, to ensure greater utility, focus will shift to the following:
Project Proton: working with Mindshare, the team at Zilliqa hopes to try out a blockchain-based advertising supply chain by providing advertisers with scalable and secure blockchain that can handle complex transactions and smart contracts that can help determine quick payouts. It also has a dashboard to give advertisers better visualization and optimization of their work based on viewability, with the first live campaign set to go live sometime in 2009.
Hg exchange: powering the Hg exchange will make it the first member-driven exchange for privately held shares in South-east Asia. It is targeted to provide access to high growth start-up companies like Uber and Grab.
BOLT: it is an open entertainment economy, and rewards will be given to users for engaging with BOLT, and has recently been granted transmission rights for the Cricket World Cup in 2019 to support the transactions that are set to take place on the platform.
EMONT Frenzy: in partnership with EMONT Alliance, Zilliqa is expected to launch an underwater game that is decentralized where players manifest as fish to collect tokens and battle out other players. This collaboration is meant to address scalability, which is an issue for blockchain games.
The launch of the Mainnet is just one step in an incredible journey for the team at Zilliqa, with the future filled with possibilities spread out before them. The new Mainnet platform will allow them to add new developments and protocols, and the infrastructure of the Mainnet will constantly need enhancing. Other areas that will need more attention include the Scilla language, efficient sharding for smart contracts and research and incentives for different blockchains. It is an exciting time for the platform.