The weakest point of Ethereum and Bitcoin blockchains are their transaction speeds which prompted Zilliqa to start their project – it is expected that Zilliqa will be able to process about a thousand times the transaction rates of Ethereum. The core of Zilliqa lies in sharding – dividing the mining network into smaller shards each able to process transactions in parallel.
A date for the mainnet launch has finally been confirmed by the team at Zilliqa (ZIL). Investors and holders of the ZIL tokens can now look forward to January 31st 2019, as the date when the ZIL project will move to its own blockchain. Initially, the mainnet launch was scheduled for the fourth quarter of 2018 but the team delayed it so they could improve the security and reliability of the product.
Parallel to the mainnet launch, Zilliqa will release the first version of their development language – Scilla. And this is a big deal.
Scilla short for Smart Contract Intermediate-Level LAnguage is an intermediate-level smart contract language being developed for Zilliqa. Scilla has been designed as a principled language with smart contract safety in mind.
The Zilliqa team has finished the first version of its own language – Scilla – that will go live together with the mainnet. Scilla, unlike Vyper – the language Ethereum Virtual Machine uses, has not been designed to be a higher-level language. This means that Scilla can be a compilation target for other higher-level languages. Hence, in the longer term as we develop support for higher-level languages to compile into Scilla, we would actually be able to reduce the learning curve for developers and become more easy to adopt than Vyper.
In the recently updated Roadmap of the project, the token swap from the ERC20 tokens to the new ZIL on the new blockchain will start from the end of Q1, 2019. The token swap will continue into the second quarter of 2019. The time frame that covers several months will provide ample time for owners of ZIL to swap their tokens. The token swap will be supported by various prominent exchanges.
The first release of the project’s mainnet will also be capable of sharding, technology which will ensure scalability by allowing smart contracts to be processed in parallel across different shards.
Zilliqa development grants are starting to show results as one of their three web extension wallet projects, Appberry extension, is already capable of sending ZILs over the Scilla testnet. Two other wallets are also close to providing a minimally viable product. You can check out the complete update on this link.
Zilliqa’s working hard on reaching its goal of becoming a scalable, secure platform for hosting decentralized applications. They’ve also apparently unlocked the secret of sharding which many see as the key factor in creating truly commercially viable blockchains. Only when the planned mainnet launches in Q1 of 2019 will we know if the project is actually capable of delivering on these promises.