TL;DR

Zilliqa has released its highly anticipated version 2.0, highlighting improvements in speed and compatibility with other blockchains.
The x-shards sharding architecture allows for the creation of customized blockchain experiences for businesses and developers.
A new proof-of-stake consensus mechanism has been introduced to enhance network efficiency and security.

Zilliqa, the blockchain network known for its focus on scalability and security, has officially launched its long-awaited version 2.0. It was announced through the publication of a technical document and the corresponding roadmap. Its goal is to drastically improve the platform in terms of speed and compatibility with other blockchains.

At the core of Zilliqa 2.0 lies its x-shards sharding architecture. This feature enables businesses and developers to create customized blockchain experiences tailored to their specific needs. Sharding, a method used in blockchain and database systems, enhances the performance and scalability of the network, allowing it to handle more transactions without sacrificing speed.

It’s finally here! Introducing the whitepaper and roadmap for Zilliqa 2.0

This evolution of the #Zilliqa network brings ultra-fast transactions, cross-chain dApps, and customisable shards that adapt to your needs.https://t.co/9iPSenTNQh#ZIL2 $ZIL #Zilfam #Blockchain pic.twitter.com/DmWkozSArF

— Zilliqa (@zilliqa) June 7, 2024

One of the most significant updates is the introduction of a new proof-of-stake consensus mechanism, replacing the old proof-of-work system. This change not only makes the network more environmentally friendly but also enables ultra-fast finality and improved security.

Additionally, block times in Zilliqa 2.0 can be adjusted as needed, with an average block time of just 2 seconds on the root mainnet shard. This rapid transaction processing speed promises to significantly improve the user experience and facilitate mass adoption of the platform.

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Another important feature is its compatibility with the Ethereum Virtual Machine (EVM). This means that the network can run smart contracts written in Solidity and seamlessly work with popular wallets like MetaMask. Interoperability with Ethereum and other EVM-compatible blockchains expands the development and adoption possibilities of Zilliqa.

Regarding Zilliqa’s token economy, updates have been made to support the transition to proof-of-stake. The updates provide attractive and sustainable rewards for those who stake their tokens while reducing inflation and maintaining a healthy token economy.

Despite past challenges faced by Zilliqa, such as disruptions in block production, the network has fully restored its functionality. With the release of version 2.0, the community is eager to see its impact on the ecosystem and the overall market.

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Filed under: News - @ June 7, 2024 2:23 pm