Zilliqa is a cryptocurrency that aims to address the scalability issues faced by traditional blockchain platforms. It utilizes a unique sharding technology, which enables the network to process a large number of transactions in parallel. This high scalability feature makes Zilliqa capable of handling a significantly higher throughput compared to other leading blockchains.
The native cryptocurrency of Zilliqa is called ZIL. It is used for various purposes within the ecosystem, including transaction fees, smart contract execution, and participation in the network's consensus mechanism.
Zilliqa also emphasizes security and decentralization. The platform incorporates a hybrid consensus mechanism called Practical Byzantine Fault Tolerance (pBFT) and Delegated Proof-of-Stake (DPoS), allowing for both efficiency and security.
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