The team at Zilliqa gave the crypto community their 26th update on the progress of the ZIL network just yesterday, the 22nd of January. This particular project update was unique in that it was the last one before the launch of the Mainnet that has been scheduled for the 31st of January this year. The announcement by the Zilliqa team also highlighted the fact that the Mainnet launch marks one year since the initial token generation event (TGE) of ZIL on the Ethereum network.
This project update…is the last project update before the launch of the Zilliqa mainnet on January 31, it marks the one-year anniversary of our token generation event (TGE), and it — most importantly for us — represents an entire year’s worth of work and bi-weekly updates from the Zilliqa team.
We’d like to thank everyone for taking the time to read about what we are building and we will make sure to continue the tradition moving forward.
The first ZIL tokens went live on Huobi on January 25th, 2018.
All Systems Go for the Mainnet Launch on the 31st of This Month
The previous project update by the team at Zilliqa notified the crypto and investor communities of the finishing touches being done towards creating the final end product that is the ZIL Mainnet. All aspects of the platform have been tested and retested on the third version of the Testnet, code-named Mao Shan Wang. The team at Zilliqa has had a tradition of naming the Testnets after the Durian family of fruits. Version 1 was code-named Red Prawn and Version 2 was code-named D24
The unofficial roadmap leading up to the Mainnet launch is as follows:
- Bootstrapping the mainnet to mitigate against attacks when hashpower is low
- Testing of mining rewards and sharding
There will be a Token swap window of several months after the Mainnet is launched. More on this will be released by the team after the 31st of Janaury.
Current Market Performance of ZIL
Checking coinmarketcap.com, we find that ZIL is currently valued at $0.022 and down less than a percentage point in the last 24 hours. With the mainnet only one week away, it will be worth observing the market reaction of the ZIL token due to the pending event.
Late last year, Coinbase listed ZIL alongside other ERC20 tokens as the exchange plans to expand its selection of digital assets for its customers. There was also speculation that facebook was building on the Zilliqa network. However, this was debunked almost immediately by the team.
Many crypto enthusiasts believe that the Zilliqa mainnet will be a game changer to the level of causing a few shock-waves in the blockchain industry.
What are your thoughts about the Zilliqa Mainnet launch? Does it pose a threat to other blockchain projects such as Tron and Ethereum? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.