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Secure Proof of Stake (sPoS)
Additionally, ZIL focuses on scalability through a process called sharding.
While many current blockchain applications utilise every node on a network to process every transaction, ZIL divides the network into 10 shards, each processing one tenth of the network’s transactions and requiring only one tenth of the miners at any given time.
This reduces wasted computational resources related to nodes confirming transactions that may have already been verified by thousands of others.
INITIAL COIN OFFERING (ICO)
when the main network launches. The sale had a hard cap of $22.0 million at a price of 116,060 ZIL per ETH. Initially, the project planned to raise up to $20.0 million but adjusted the cap due to the rise in ETH prices.
during the sale.
Early supporters that provided funding or other support to the project were eligible for an extra 10 – 15% “bonus” allocation on top of the tokens they received through the sale.
A total of 21.00 billion ZIL were created, with 6.30 billion distributed through the public sale. An additional 6.30 billion tokens were allocated between Anquan Capital (2.10 billion), Zilliqa Research (2.52 billion), the founding team (1.05 billion) and various supporting agencies (0.63 billion), including Bitcoin Suisse.
The remaining 8.40 billion tokens were reserved for future mining rewards, which will be distributed over a ten-year period.
Tokens allocated to Anquan Capital, Zilliqa Research, the founding team and supporting agencies, excluding Bitcoin Suisse, are subject to a vesting plan which releases new tokens quarterly over a three-year period.
Of the funds raised in the token sale, $17.6 million will go to research, development, and operations. Anquan Capital was allocated $3.3 million of the proceeds, and the remaining $1.1 million was rewarded to the founding team.
ICO token price: 1 ZIL = $0.0038 USD / 0.0000084656 ETH
Creators / Founders
Published scientist and practitioner in building secure systems Led the research and development of Anquan’s proprietary scalable and secure blockchain, deployed for financial and e-commerce applications.
Core Development Team
Chief Scientific Advisor
Research professor in computer science at National University of Singapore
PhD in computer science from UC Berkeley
Received several premier awards such as the Top 10 Innovators under 35 (MIT TR35 Asia) in 2017
Head of Technology
Experience building secure and privacy-preserving web and distributed systems with cryptographic mechanisms. Research work has been published in top international conferences, such as CCS, USENIX Security, PETS, RAID, and ESORICS. Received the Best Paper Award in W2SP (2014) and ICECCS (2014)
Engineering director at Facebook
Assistant Professor at Yale-NUS College and School of Computing
CEO and founder of StrongHold Labs
Developed Oyente and co-founded SmartPool
Head of ICO at Bitcoin Suisse
More than 20 years in corporate and investment banking
Co-founder of BOLT and founder of Pin8cle
Founding partner at FBG Capital
One Block Capital