When the blockchain technology offers transparency, security and immutable ledger of transaction, the industry players and users definitely benefit from it. However, as the technology evolves, the offerings no longer become a benefit but a risk.
Therefore, it is crucial for the blockchain-based applications to move beyond transparency, privacy and security, and turns to scalability while simultaneously achieving a balance between security and decentralisation.
Those can be achieved via Zilliqa, a new high security and performance blockchain platform designed to support enterprise-grade applications.
How Zilliqa Works?
President and Co-Founder of Zilliqa, Amrit Kumar shared with Techcryption Media that the blockchain industry continues to face the issue of scalability. Born out of a research paper written on the application of sharding as a blockchain scaling solution by some of the founding members, Zilliqa was eventually born.
In upholding Zilliqa as an enterprise-grade platform amid the industry, the team also has to scale-up the security features. With that, they developed and implemented a secure-by-design functional programming language, Scilla, to address existing security loopholes in today’s smart contract programming languages.
Zilliqa Steps Up The Game
Visioning to address far-reaching issues that roam around both enterprises and individuals, Zilliqa steps up to move beyond the scalability. Despite the benefits of transparency, confidentiality and privacy are as equally as important in some cases.
However, Zilliqa believes that its efforts can be further advanced to provide better service as a blockchain platform. Through the latest integration with Incognito, an open-source, blockchain-agnostic privacy solutions provider, Zilliqa aims to provide greater privacy on its network. The integration will allow ZIL token holders to transact on the Incognito sidechain, allowing complete privacy for their holdings and all transactions performed with them.
Our Two Sats
The presence of Zilliqa in the industry is also an opportunity to change the landscape of blockchain capabilities, with its scalability and high-end privacy features. As per Kumar, “privacy has always been of concern particularly in the blockchain space due to the transparency that a public distributed ledger provides.”
With the continuous efforts played by the Zilliqa and other blockchain industry players, a definite change of the future technology orientation becomes more promising.
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