We are thrilled to announce our partnership with Zilliqa, the first public blockchain that uses sharded architecture.
Recently, we had an AMA with Kevin Meyer, the Ecosystem Manager at Zilliqa, and we can’t wait to share the recap with you. It will contain all the topics discussed during the AMA, including the network roadmap, the latest developments, and the future of consensus algorithms.
To learn more about Zilliqa, please read our article Introduction to Zilliqa: A Blockchain Platform Designed to Scale in Transaction Rates.
Partnership Details
Zilliqa is a Layer-1 blockchain network that combines both Proof of Work and Proof of Stake consensus algorithms, which enables staking opportunities. Obviously, very few token holders can become validators, so that’s where Everstake comes to the rescue.
As you know, Everstake has been an active validator since 2018 and now provides staking services for over 70 networks.
As a result of this partnership, all ZIL token holders will get an opportunity to take part in staking by delegating their assets to the bigger validator, Everstake. This way, they will be able to earn rewards and benefit from full Zilliqa functionality.
To make staking and delegating easier for users, Everstake will also provide plenty of educational materials that will cover the technical part of staking, security, and other aspects.
Zilliqa Roadmap
The blockchain space is interconnected and highly competitive. Yet, Zilliqa has unique selling points that will make it stand out among competitors, attract more users, and increase its TVL.
- EVM compatibility. Zilliqa strives to achieve EVM compatibility, aiming to attract more developers, which means more dApps and users in the near future.
- Gaming hub. The team plans to develop multiple P2E games and an entire gaming hub for them to gain access to a wider audience and grow the community.
- DeFi bridges. Another Zilliqa milestone is to build bridges connecting it to other blockchain networks such as Avalanche, Polygon, BSC, and Solana. With these bridges, users will be able to stake assets as collateral and take loans on DeFi protocols like Aave.
- Hackathon. The network also plans to create a massive hackathon to attract developers and engineers. Although the internal team is already full, Zilliqa wants to expand its ecosystem and bring tons of new projects and futuristic ideas on financing, development, gaming, traveling, etc.
Upcoming Zilliqa Projects
There are multiple projects to be deployed on the Zilliqa network in the near future.
For instance, the team is currently working on its first game, WEB3WAR. This P2E game is built for users to enjoy the gameplay and get profit in the meantime by trading in-game items. The game will have its own token linked to the native ZIL token.
The launch date isn’t yet set, but the beta version could be available online by October or November. This will allow the community to test the game and provide feedback for further game improvements.
In the future, the Zilliqa team plans to build a custom console for this game and the next ones.
What the Future Holds
Currently, the industry is going through a tough time, considering the present bear market and the rising number of hacker attacks. However, better days are coming.
Surviving the Bear Market
The bear market comes with challenges. But it is possible to live through it by staying cool-headed and following industry best practices.
Here are a few tips for surviving the bear market:
- Stake Tokens. This is the easiest and safest way to survive the bear market. While the price of the tokens is down, delegating your assets to validators will help you earn rewards.
- Short the market. Depending on the market trend, you can short the market based on personal observations about the current state of affairs. You can do this through a centralized exchange or by borrowing against the asset. However, always make sure to do your own research, stay on top of the global news, and be careful.
- Research new projects. Constantly look for new projects and do elaborate research on them before investing.
We think that it is unlikely that the bear market will last longer than by the beginning of 2024. And even then, prices will not drop more significantly than they have unless the macroeconomic conditions continue to worsen throughout the world. So the future is always bright.
Consensus Algorithms
Currently, Proof of Stake is the consensus algorithm of choice. Given the cost of electricity worldwide, the shift to POS seems an optimal solution, but that might change in the future due to technological improvements. Besides, POS comes with its flaws anyway.
That’s why we believe that other, more energy-efficient consensus algorithms may emerge, and the industry will have to adapt quickly.
