Zilliqa

Halal Rating :
Comfortable
Last Price $0.02 Last updated:
Rank 168
1D Change 20.48 %
Market Cap $429.17m
Circulating supply 19,303,958,640
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Mineable
  • Platform
  • Payments
  • Smart Contracts
  • Polychain Capital Portfolio
  • Metaverse
  • Kenetic Capital Portfolio
  • Zilliqa Ecosystem
  • BNB Chain

Overview

Zilliqa is a Layer-1 blockchain platform launched in 2019 that pioneered the implementation of sharding technology for improved scalability. The platform is designed to host decentralized applications (dApps) and enable fast, secure transactions through its native ZIL token.

Intended Utility

The primary intended uses of ZIL tokens are: network security through staking, transaction fees, smart contract execution, and governance participation. The platform aims to serve as a foundation for Web3 applications, particularly in the areas of DeFi, NFTs, and metaverse projects.

Actual Utility

Zilliqa's ecosystem shows active development and real-world usage. The network processes thousands of daily transactions, hosts multiple dApps, and maintains significant staking participation. Notable partnerships include collaborations with Polymorphic (advertising), and various gaming projects. The platform has also launched Metapolis, a metaverse-as-a-service platform.

Token Distribution and Governance

The initial token distribution allocated 30% to mining rewards, 40% to the team and early investors (with vesting schedules), and 30% to the ecosystem. Current circulation shows a well-distributed token supply with no concerning concentration of ownership. The project maintains transparency through regular updates and public development activity on GitHub.

Technology and Revenue Model

Zilliqa uses a hybrid consensus mechanism combining PoW and practical Byzantine Fault Tolerance (pBFT). Revenue is generated through transaction fees and platform usage, without relying on interest-based mechanisms. The project focuses on technological advancement rather than mere token price appreciation.

Crypto Impact

To assign a comfort level investing in Zilliqa from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Zilliqa.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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