The Zilliqa platform and its native ZIL token are promoted as the main tools for combating scalability issues found with blockchain. Its sharding technology is supposed to propel Zilliqa as the third-generation blockchain solution capable of accommodating as many transactions as possible.
The Zilliqa project was financed in 2017, followed by an ICO which took place in early 2018. Its first sharding blockchain was launched a year later. These activities unfolded under the watchful eye of Prateek Saxena and his associates Amrit Kumar and Xinshu Dong. The idea for the project started was given birth at the Computer Science Lab of the University of Singapore, with a group of scientist studying the ideas of Loi Luu, founder of the Kyber Network.
Ultimately, Zilliqa aims to compete with the global payment processing platforms such as Mastercard or Visa. To achieve this, it plans to contain the scalability issues by making its consensus model more resistant to the negative impact of the size of its home network. This is supposed to increase its processing throughput in line with a growth in the number of nodes in the network.