Zilliqa is building a robust blockchain using sharding and new smart contract language to deliver more efficient end user results. Can Zilliqa stand out in the increasingly crowded blockchain space?
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I think a video on the the multi-varied costs or pros and cons of each the different scaling solutions would be helpful. To me, many of these projects are sacrificing decentralization to gain TX speeds. If the result is a relatively centralized network, then they're going to loose to Amazon AWS all day. In short, Platform resistant (EOS) vs. Sovereign resistant (Ethereum) - Sovereign resistant should be the strategy for all of these projects. Unfortunately, all the dumb money in the market will only see TX speeds and ignore why crypto exists in the first place and are likely to see another Ripple XRP scenario with these centralized chains.
Loving this project from a miners perspective. Not only does it use the ethash algo but the PoW model is less power intensive which could open up the possibly of dual mining. Thanks for the awareness around the language.
You should probably research how supply and market cap work. Then determine if you think the crypto market will ever be worth hundreds of trillions of dollars and if ZIL has the potential to be in the top 5.
From what I know of Zilliqa, and Scilla, is that the protocol is created to allow high throughput but not necessary high-level programming language. If that is true wouldn't the type of DAPPs (esp. with complex programming/smart contracts) be limited to what can be done on top of this platform? This would make more sense why pBFT will work in this scenario.
The key feature of EOS is scalability and hence we compare ZILLIQA and EOS wrt the scalability aspect.
The high throughput of EOS comes from its consensus protocol called dPoS (delegated PoS). dPoS in EOS works in the following manner: A dedicated subset of 21 nodes aka block producers is elected by the network to propose the blocks. The probability of a node being elected is based on its stake in EOS.
Each of the 21 nodes proposes exactly one block with a block time of 3s. As you may imagine, this mechanism will certainly yield very high throughout. However, this also leads to some risks. The number 21 is not large enough and hence it should be easy to attack them or at least a majority of them. The obvious solution here would be to increase 21 to a larger number say 1,000 or even more. By doing so, latency will increase and the throughput will drop. This is because each node would need to broadcast the block to a larger network and broadcast is always a bottleneck in any distributed system.
Another point to add is that trusting only 21 nodes also leads to some centralisation risks. Moreover, dPoS does not guarantee finality. This means that a malicious node may produce a competing block. As a result, confirmations are required (as in Bitcoin) to have cushion against double spends.
ZILLIQA uses a different consensus protocol called pBFT. The benefit of pBFT is that it gives finality. Hence, no confirmation is required. The consensus in ZILLIQA is run in parallel within a set of around 600 nodes. The size is large enough to ensure that the centralisation risk is low.
As someone who enjoys the tech I really like the look of Zilliqa, I looked on their GitHub and things look pretty solid, the fact they have a tests folder is a massive win instantly.
My biggest fears are that other competitors they have will deliver something to solve this problem of scaling soon and before ZIL can mature, which would then make this project much more irrelevant than it is now, the other issue I have is that the supply is quite big, I have a bag but it's only a small bag because of the above issues that concern me.
Zilliqa team notice it might be a problem for programmers to develop in new language.
So Zilliqa team is developing a compiler to convert Solidity into Zilliqa's native landguage.
Also, Zilliqa team will make the front end familiar with Solidty in order to help programmers.
I think it won't be an issue if they are trying to attract programmers.
7:30 AM got my coffee pot ready my darts ready to watch 3 videos today by my brotha Lark!! awesome ,you lost me in this video with the token supply tho,any thing over 600 mill supply I pass on----------"crypto Lark nation" #NOSHAVETILL20K, see you at the next vid ;) lol
Look at marketcap instead of total amount of tokens. Token supply in itself is not a valid factor to look at, you would have to check 'token supply * price' to look at marketcap and then compare it to other similar blockchain projects.
"It is the market cap upon entry that will determine your ROI."
Not really, market cap is taken to literally in crypto. You really shouldn't use that as a guage for ROI, market cap can be deceiving in so many ways
Lark, love your videos. I have watched dozens of them and enjoy your enthusiasm and knowledge. I have been doing fundamental analysis with a rating system of my own but was wondering how you value the actual projects monetarily, if you do so? Other than competitors I am trying to figure out how to figure out true dollar value of these projects.
Huobi and IDEX are both super legit. I actually started researching this after seeing they sponsored NEO DevCon.
They are already out putting around 2400 TX/second with only 3600 nodes. Visa does 8000 TX/second.
I believe that this project will be huge. I could also see it getting added to Binance in the near future. Innovative project, Bluzele is already on Binance, and it's got a pretty decent amount of volume going through it lately.
This could be as big as Ethereum in my opinion
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