Why Zilliqa has the potential to SURPASS its previous ATH by at least 5x

Why Zilliqa has the potential to SURPASS its previous ATH by at least 5x

For those who have been in the crypto investing game long enough. You know the drill. #HODL.

They cannot dispose you of your token. They cannot make you lose money as long as you do not sell. That approach has led the entire crypto market to gone up so much in size that now it is the 200 ton gorilla that the banks cannot ignore.

But wait. Some of them have fallen as much as 70% from their ATH from April 2021 till today. That is a lot of money off the table.

However, there is one particular token that we would like to focus on today as a crypto magazine. And that is Zilliqa.

Never heard of Zilliqa, have you?

Well, all the more better that you are hearing it for the first time. Because it means its visibility is not really there. But in reality, this is the next 200 ton gorilla coming up in the room, with the invisible cloak that will soon be dropped to reveal its massive size.

Why highlight this crypto?

In the world of now 10,000 cryptocurrencies, most of which are junk edged on by gamblers hoping for a tweet by a celebrity to bring in 700% growth. But Zilliqa is one crypto that has a dedicated team that has worked on the project since 2017.

Other crypto projects that failed to gain traction since then have already died off. And so will newer ones that fail to gain a sizeable following with proper utility. As with all forms of ecosystems – one thing is needed in the game of crypto – critical mass. Economists will tell you that without this, there is no way the business idea, product or service will have sustainability.

Bitcoin rose from this concept. The reason why it cannot be ignored is because a big enough critical mass is holding it. And as long as they continue to perpetuate and live on the narrative that it is an important currency of the world, and one that will outlast the dollar, that is all that is needed.

Out of Bitcoin rose Ethereum of which we now have smart contracts. And out of Ethereum, Zilliqa came quietly on the scene, building with its Scilla language, and now it has evolved into a big player who will soon join the league of big boys at the main table.

What is it that gives Zilliqa its prominence?

As an onlooker across various crypto projects, there is none that stands out much like Zilliqa. Yes, it does not have as much visibility with regards to the funds raised. There are crypto projects that make a lot of noise about who is funding them.

But their ability to deliver the most basic within the Proof of Stake (PoS) like sharding has been called into question. Will they be able to deliver it? It still remains a question mark waiting to be answered. And it has been years. This can only mean one thing. Their fundamental building block needs to be reworked. This would mean thousands upon thousands of developer manhours going back to that drawing board. And this also means millions of dollars down the drain.

What’s so important about sharding?

I’m glad you asked the question.

This itself is the answer to speed in transactions. On the blockchain, you don’t want your transaction to take its grandmother’s time to settle a verification. You want it fast. You want it in the next second. Better still, half a second.

But sharding, if done incorrectly, opens up doors to compromise of security. Once the hackers are able to proof a breakthrough in your blockchain, the apocalypse will take place and you can be assured your reputation and all other projects built on it, will be in trouble. For one, Ethereum uses Solidity for building smart contracts, but Zilliqa uses a custom-built language known as Scilla.

For those of you who are unfamiliar with Scilla, it has been peer-reviewed and tested to ensure that it removes the security issues that are common on Solidity. If Ethereum continues building on Solidity which already has security issues, limitations are bound to be present.

Ok, Zilliqa has very secured sharding. So what?

I’m glad you asked again.

Well, after showing the ability to transact with speed in a secure manner. What you really want is to know what you can use the token for. I’m sure you didn’t think you can buy something on the blockchain and use it for cooking dinner, did you?

What you want is to see projects built on it. Lots of them. Not just the ones that people use from the App Store of the current mobile world where they take a selfie and post it on Instagram. You want the ones that make MONEY and utilise the token. You want the price of your investment to moon because of that.

What are the projects that you speak about?

Mintable – NFTs are minted on this site and sold. This has a crossover point for those holding Ethereum too. In fact, the point of having that bridge is to allow those who have been using Ethereum to realise that there are cheaper gas fees on Zilliqa to accomplish the same thing.

XCADEMY – this is THE GO-TO YouTuber training academy where top YouTubers help others along their journey towards success.

Xfers – this is the SE Asian payments provider, designed for a frictionless, smoothened way to bring finance to the unbanked in the region. As part of the project, the XSGD, a stablecoin pegged 1:1 to a reserve of Singapore dollars, immediately brought about real world utility for the project. Think about borderless transactions that can take place with a currency backed by one of the strongest currencies in the region and the world. 

There are many others as well, but these are the good ones to take note of as they are currently actively and making much progress. What you want are not just a flurry of projects (quantity) but quality projects that continue to thrive. 

That is great! Anything that is new and world-shaking, history-making on the blockchain?

Interoperability.

This is the killer network that is now in the final phase and will launch within these few days.

What does it do?

Well, according to them, it is an 

“interoperability bridge with @PolyNetwork2 to facilitate free flow of assets & cross-chain communication between @zilliqa @ethereum @Neo_Blockchain @OntologyNetwork @binance #SmartChain.”

Source: https://komodoplatform.com/en/academy/what-is-zilliqa-zil/

This means you can move your crypto assets freely across these chains. When that happens, this smoothens transactions and allows those who have been on the “digital oil” to come into Zilliqa and immediately stake in and be a part of the ecosystem. This will be a boost given that many investors that have already been on that platform understand the amount of gas fees that need to be paid and Zilliqa immediately presents itself as the obvious alternative.  

This is akin to playing chess, where you will only see the finishing moves as the endgame nears. And this is one of those moves presented by Zilliqa. Do not underestimate how it has moved a little compared to its counterparts like Cardano or Polygon for that matter. What matters is the long game.

And this crypto is playing to win the war, whilst allowing some skirmishes to be let by as it keeps its eyes on the prize.

**Again, this is not investment advice. If you are deciding to buy into anything mentioned in this article, do your own due diligence. We are not liable for losses or would be sharing in any gains from you!

Yours

Chief Editor

BBA Market Perspectives

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