Zilliqa 2.0 Mainnet Prepares to Launch in Q1 2025 Following Release of Aventurine Proto-mainnet

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As a seasoned analyst with years of experience navigating the cryptocurrency market, I find the upcoming transition of Zilliqa (ZIL) to its 2.0 version particularly intriguing. Having witnessed the birth of many blockchain projects during the ICO bubble of 2017, it’s refreshing to see a project like Zilliqa evolve and adapt to the ever-changing landscape of the Web3 industry.

The cryptocurrency known as Zilliqa (symbol: ZIL), which was initially introduced during the Initial Coin Offering (ICO) boom in 2017, is planning a significant upgrade by the first quarter of 2025. This new version is called Zilliqa 2.0, and the migration from the current mainnet has already started with the recent deployment of the Aventurine Proto-mainnet. This step invites the community to test out the upcoming features before the full transition takes place.

As an analyst, I’m excited to share insights about Zilliqa 2.0 – a cutting-edge blockchain that embodies scalability, security, and interoperability as we envision the future of Web3. The Aventurine Proto-mainnet testing phase, initially set for 2024, has been extended to early 2025. This extension allows all participants, including validators and delegators, ample time to get accustomed to the novel operating models before we officially launch.

The Zilliqa team emphasized that an extensive testing phase, which is crucial for a smooth transition to the fresh network, offers development teams ample time to scrutinize their applications and confirm seamless operation on the new protocol prior to transferring them to the Zilliqa 2.0 mainnet.

Key Features of the Zilliqa 2.0

In simpler terms, the essential characteristics of Zilliqa 2.0 have been thoughtfully designed to facilitate a smooth integration of Web3 technologies using scaleable smart contracts. High on the priority list are the x-shards, which aim to provide enhanced scalability, quicker finality, and an overall improved user experience.

To boost user freedom and increase efficiency, Zilliqa 2.0 will undergo an upgrade by swapping the Proof-of-Work (PoW) consensus mechanism for the highly regarded Proof-of-Stake (PoS) method, similar to that employed by leading Web3 chains such as Ethereum, Solana, and others. This shift aims at lowering transaction costs and minimizing the network’s carbon footprint, which is a significant improvement.

A significant aspect of Zilliqa 2.0 is its capacity to link effortlessly with other blockchains that support Ethereum Virtual Machine (EVM) transactions, enriching the development of multi-chain applications. Also, in Zilliqa 2.0, the native ZIL token has been adapted to function within an ERC-20 interface.

Market Impact on ZIL

The release of Zilliqa 2.0 is expected to significantly boost the popularity of the ZIL token among mainstream users. As a mid-tier cryptocurrency with a total value of approximately $480 million and daily trades averaging around $50 million, it has shown a bullish trend over the past year following its prolonged confinement in a broader bear market since early 2021.

As a crypto investor, I’m excited about the upcoming launch of Zilliqa 2.0. This upgrade is set to significantly improve the economic structure of the ZIL token by lowering overall inflation and boosting staking rewards, aiming to attract more network delegators. The previous iteration of Zilliqa has already garnered over 4.8 million unique addresses and executed a staggering 69.42 million transactions, demonstrating its robustness and popularity.

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2024-12-18 18:36