Zilliqa Will become Newest Crypto to Split $1 Billion Current market Cap

Zilliqa has become a single of just 28 cryptocurrencies to boast a marketplace capitalization about $1 billion.

According to CoinMarketCap, Zilliqa passed the $1 billion threshold late Monday and is worth approximately $1.2 billion at the time of crafting, earning it the world’s 23rd-most beneficial cryptocurrency. The increase coincided with the announcement that Zilliqa is accessible to trade on OKEx, the 3rd-highest quantity cryptocurrency exchange tracked by CoinMarketCap.

The coin is also accessible to trade on Binance, Huobi and Gate.io, among many others.

The Singapore-based challenge presents by itself as solving the scalability complications endemic to blockchain technology by sharding, an performance-boosting system that predates bitcoin but has however to prove its viability in significant permissionless networks. To start with introduced past year, the team’s white paper claims that “at ethereum’s current network size of 30,000 miners, Zilliqa would anticipate to method about [1,000] occasions the transaction fees of ethereum.”

The ethereum network options to introduce sharding in the long run, perhaps undercutting Zilliqa’s price proposition.

Zilliqa’s marketplace cap has additional than tripled in the past 30 times, from $295 million on April 9. The coin is worth just about $.16 at the time of crafting, and is up 16.9 p.c about the past 24 hrs.

Coaster image via Shutterstock

The chief in blockchain information, CoinDesk is a media outlet that strives for the highest journalistic benchmarks and abides by a demanding set of editorial guidelines. CoinDesk is an independent running subsidiary of Digital Forex Team, which invests in cryptocurrencies and blockchain startups.