Zilliqa 2.0 Supercharges Speed, Cross-Chain Links
Zilliqa 2.0 boosts speed, efficiency, and EVM compatibility with sharding and proof-of-stake. Launching in 2024, it promises enhanced blockchain performance.
It is also possible to modify block times as needed. The average block time on the root mainnet shard is only two seconds.
The white paper and roadmap for the much-awaited version 2.0 update of the blockchain network, which is set to launch on the mainnet later in 2024, have been made official.
As per the network, the latest version of the platform is expected to enhance its speed, efficiency, and interoperability with other blockchain networks.
Zilliqa 2.0’s sharding architecture, or x-shards, is its fundamental component. With the help of this functionality, companies and developers may design blockchain experiences that are unique to their requirements and let users construct anything they can think of on the Zilliqa platform.
Blockchain and database systems employ sharding as a technique to improve the scalability and performance of blockchain networks. They become more effective and able to process more transactions without experiencing any lag.
The white paper replaces the energy-intensive proof-of-work system with a new proof-of-stake consensus mechanism and x-shards. This modification makes the network greener while offering faster finality and greater security.
It is also possible to modify block times as needed. The average block time on the root mainnet shard is only two seconds. A cross-chain communication hub is another network update feature that facilitates communication between x-shards, the Zilliqa mainnet, and other blockchains compatible with the Ethereum Virtual Machine (EVM).
Zilliqa 2.0 can run smart contracts written in programming languages like Solidity and integrate easily with well-known wallets like MetaMask because it is EVM-compatible.
The network will support Scilla and enable seamless communication between the two contract languages. It will also have features like intelligent account functionality, simple token conversions for gas fees, and account abstraction compatible with EVMs.
The tokenomics of the network have also been modified to facilitate the proof-of-stake transition. This modification lowers inflation while offering token holders enticing and long-lasting incentives.
The white paper and strategy from Zilliga were released in response to many mainnet operational problems that affected block production. However, all network functionality has been restored.
In December 2023, an “interruption to block production” saw daily Zilliqa blockchain transactions plummet about 50%, from over 61,000 to 30,906.
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