Zilliqa Zooms Past a Billion Dollar Market Cap

May 10, 2018 at 21:04

Zilliqa, the cryptocurrency which has introduced sharding in a blockchain network has become one of the 28 digital coins to have a market cap of over $1 billion.

According to CoinMarketCap, the cryptocurrency achieved the milestone last Monday and is now worth over $1.4 billion.

Analysts noted that the digital coin’s surge was boosted by its announcement of becoming tradeable to OKEx, the third-highest volume cryptocurrency exchange. At present, Zilliqa is also available to trade on Binance, Huobi and Gate.io, among others.

Zilliqa, whose developers are based in Singapore, aims to solve the scalability problems that is experienced in the blockchain technology. The team behind it claims that the project is capable of processing about 1,000 times the transaction rates of Ethereum that currently has a network size of 30,000 miners.

However, the Ethereum network revealed its plans to also introduce sharding in the future, which may affect Zilliqa’s value proposition.

Last month, Zilliqa’s market cap was only at the $300 million territory.

As of this writing the coin has a value of $0.195361.