Zilliqa Launches Smart Contracts, Opens New Office in London

High-speed Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term platform Zilliqa on Monday announced the launch of smart contracts on its platform.

In a press statement shared with Finance Magnates, Amrit Kumar, president of the company, marked it as a “milestone” for Zilliqa.

“It is one that shows the world that we have developed the technology we envisioned two years ago, and now, we are open for business,” Kumar added.

The Singapore-based blockchain company has addressed the scaling issue with the blockchains of Bitcoin and Ethereum and has developed a decentralized network capable of handling as many as 2,488 transactions per second using a technology called ‘sharding.’ As the network continues to grow, its payment processing capabilities increase.

Competition to Solidity

Moreover, the firm has introduced a new programing language, called Scilla, to write and deploy smart contracts on the Zilliqa blockchain.

“With this, we’ve come to realize our vision of a better smart contract language, one built with greater security guarantees at the language level,” Kumar noted.

“Throughout the past six months, we’ve achieved critical milestones by way of the launch of our mainnet on January 31st, to the culmination of our bootstrap phase and the enabling of transactions, and the many partnerships and initiatives that we’ve spearheaded along the way,” he added.

“Marked only by progress, we’ve made significant technological and engineering inroads, as we’ve refined our protocol infrastructure and enhanced developer tools for Scilla in order to provide our community with the necessary resources to engage with the Zilliqa ecosystem as we know it today.”

The announcement also detailed that the smart contracts on Zilliqa will have four core features - amenable to formal verification, static analyzers suite to check potential bugs and issues, clean separation to prevent incidents like the DAO and Parity hacks, and safe standard libraries.

Going global

The company also focusses on global expansion and has opened up a new office in London.

“With an increasingly global community of developers, we are continuing to grow our international footprint as our ecosystem expands,” Kumar added.

In addition, the company has inked deals with a range of platforms, including Project Proton and HG Exchange, to use its blockchain

“Zilliqa will soon be entering the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term landscape to drive efficiencies in cost, transparency, and security for both clients and end users,” the president noted.