Zilliqa Price Chart Update [ZIL]

Zilliqa offers various features commonly found in cryptocurrency networks, including smart contracting, transaction settlement, and token issuance. Developers can utilize Scilla, Zilliqa's proprietary language, to create and execute smart contracts and decentralized applications.

Zilliqa is designed to efficiently execute smart contracts and validate network transactions by implementing sharding and the Practical Byzantine Fault Tolerance (pBFT) governance mechanism.

Zilliqa's Sharding Process: Enhancing Scalability

Sharding is a technique that divides the network into interconnected shards, allowing nodes to process a portion of the network's transactions. Each shard acts as an independent blockchain, enabling assigned nodes to store data, process transactions, and add new blocks to their respective shard chains known as microblocks. Directory Service Nodes (DS nodes) combine these microblocks into a transaction block, which is then added to the Zilliqa blockchain. It's worth noting that shard nodes only need to store a subset of Zilliqa's blockchain, rather than its entire history.

Practical Byzantine Fault Tolerance (pBFT): Achieving Consensus

Zilliqa relies on the Practical Byzantine Fault Tolerance (pBFT) governance mechanism to maintain synchronization among the distributed network of computers. Nodes must stake ZIL to participate in the blockchain's operation and decision-making process. This means that anyone who owns ZIL can contribute to the network's functioning. Through pBFT, all nodes assigned to specific shards must reach a consensus before a microblock can be finalized and combined into a transaction block. Nodes earn a portion of the block reward for validating transactions.

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