Zilliqa became one of the 28 cryptocurrencies that can boast a market capitalization of more than $ 1 billion.
According to CoinMarketCap, Zilliqa have crossed the threshold of $ 1 billion at the end of Monday and at the time of writing, the capitalization of the project is around 1.4 billion, making it the 22nd largest cryptocurrency in the world in terms of capitalization. The growth coincided with the announcement that Zilliqa will trade at OKEx, the third largest cryptocurrency exchange.
This coin is also available for trading on Binance, Huobi and Gate.io.
The Singapore project represents a solution to the problems of scalability, typical problems of blockchain projects. The authors of the project hope to solve this problem by using sharding technology to improve efficiency, which appeared before the advent of bitcoin, but not yet proved its viability in a large network. First introduced last year, a technical document, the team States that “at the current number of miners in ethereum, which is about 30,000 Zilliqa will be able to handle 1000 times more transactions.”
It should be noted that the ethereum network plans to use sharding in the future, and it very likely will negatively affect the project, as it is unclear how he can stay relevant.
Zilliqa market capitalization has increased more than four times in the last 30 days. On 9 April, it was only 295 million dollars. At the time of this writing the coin is worth slightly more than 0.19 US dollar and in the last 24 hours has increased by 25 percent.