Zilliqa (ZIL) is a public platform that works with smart contracts with a focus on scalability. In many coins with the Proof-of-Work system, the ledger has to be completely driven along with all transactions. The more transactions, the bigger the ledger and the longer the transactions will take.
Zilliqa has its own developed system called the Sharding network for this purpose. The sharding network splits the ledger between different miners, keeping transaction time low. For instance, Zilliqa can complete as many as 2488 transactions per second.
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The Vault is a safe alternative to the traditional crypto wallet for those who want to buy, sell and swap their coins on Anycoin Direct. Within the Vault you can store all your digital assets and swap them against one another. Still want to send crypto to an external wallet like your Ledger? No problem, the Vault is an additional feature. The choice is yours.
Balances in the Anycoin Vault, are kept in a foundation. This foundation has only one purpose, to preserve our customer funds. This construction ensures that customers are entitled to compensation in the unlikely event of Anycoin Direct's bankruptcy. In addition, we want to reiterate that we always want to give customers a choice between using the Anycoin Vault and sending coins to an external wallet.
With the Vault, you can keep all your tokens safely in one place. In the Vault, you can easily swap ZIL without paying the blockchain network fee. The Vault is an additional feature we offer to our customers. Currently, Zilliqa (ZIL) is available in the Anycoin Vault. You can easily create an Anycoin Vault in your account dashboard. From the Vault overview you can easily buy, sell and swap Zilliqa.
Because of the Sharding system, the transaction speed only gets faster as the blockchain only gets bigger. This means that the speed of transacites only increases.
The idea around Zilliqa came from Prateek Saxena, who is a recognised research professor at the National University of Singapore. Saxena has done work on browsers, Web standards and app stores.
In 2015, Saxena and a few of his students published a paper with how the Sharding network is an improvement on the current Proof-of-Work network. This eventually formed the basis of the system and in 2017 the company Zilliqa was founded. In 2018, the coin was first offered as ERC-20 and in 2019 came the transition to the Zilliqa mainnet.