- Zilliqa has launched its own smart contracts platform
- The platform is built on Scilla programming language
- Zilliqa hopes to drive enterprise adoption of smart contracts
Open-source blockchain project Zilliqa announced through a Medium post on June 10, 2019, that it successfully launched the first-ever smart contract platform built on sharding. The development marks an important event in the project’s history as experts believe that a sharding-based smart contract platform could be the antithesis to the long-standing problem of blockchain technology, scalability.
A Major Leap Forward for the Entire Blockchain Ecosystem
Blockchain technology has, for long, suffered from the infamous trilemma that has vastly limited its use in a real-world application. The technology that undergirds cryptocurrencies like bitcoin and a whole host of others has found limited success outside the cloud of digital money and one of the major reasons for this is its inability to scale.
In fact, it would be wrong to put the onus of blockchain’s minute success only on its inability to scale. Blockchains can scale, but at the cost of authority. Private blockchains, like those being developed by JP Morgan and more recently, Facebook, have generated healthy throughputs in terms of transactions but the catch is that these networks are completely centralized in power structure with the decision making authority in the hands of the few.
In a bid to make blockchains scalable without compromising on their decentralized aspect, the team at Zilliqa has launched a smart contracts platform built on its safe-by-design smart contract language Scilla.
The platform uses sharding to cut down on the data being processed with each transaction on the main blockchain. For the uninitiated, sharding is a type of database partitioning that separates very large databases into smaller, faster, more easily managed parts called data shards. In terms of blockchain, sharding can help store data in small chunks off-the-chain which would make sure that the main network blockchain is not under intense performance pressure.
Scilla to Help Boost Smart Contract Ecosystem
Zilliqa smart contracts are written in a programming language called Scilla. According to the blog post, Scilla is designed “with a balance between expressivity and tractability” which helps it establish formal reasoning about contract behavior.
Further, the language also comes with a suite of static analyzers that scan for potential bugs and issues in the contract.
Blockchain Reporter informed its audience on May 6, 2019, how PepsiCo was able to save as much as 27 percent on its ads with Zilliqa “Mindshare” partnership.