Zilliqa (ZIL) team just stated that its mainnet roll-out would be postponed until January 2019. Keeping in mind that the platform kept up with their work plan up to now, the announcement that the Zilliqa mainnet launch is delayed took the Zilliqa community by surprise.
Blockchain technology holds a lot of promise for a variety of sectors of activity, but scalability is still the most challenging issue this technology is facing, involving anything from the Bitcoin (BTC) legacy technology to the Ethereum (ETH) standard of the industry.
Zilliqa (ZIL) is the 30th cryptocurrency in the market with a market cap of over $331 million, while it is the second-largest cryptocurrency and blockchain coming from Singapore. Its primary purpose is to tackle the blockchain technology’s scalability issues.
Zilliqa’s objective is to reduce the scaling limitations of blockchain technologies on which cryptocurrencies are running by deploying sharding, which splits blockchain networks into pieces, enabling it to handle several simultaneous transactions, not only by enhancing the scalability but also by decreasing the vast amounts of computing power needed.
Zilliqa (ZIL) mainnet roll out postponed to the disappointment of the Zilliqa community
The Zilliqa community has long-awaited the deployment of the Zilliqa (ZIL) mainnet during Q3 2018. However, the devs team stated they had to postpone the mainnet launch. This announcement came as a huge shocker for the community and some Zilliqa community’s members showed their disappointment on social networks.
However, the Zilliqa (ZIL) mainnet would launch in January 2019.
“In recent weeks, we have had extensive discussions to revise the schedule in light of these improvements. Unfortunately, we will need more time to ensure that the code is properly tested by the core team, the community and last but not least, the established audit firms,” said Amrit Kumar, Zilliqa co-founder, trying to explain the reasons behind the postponing of the Zilliqa (ZIL) mainnet launch.
At the moment of this article, Zilliqa (ZIL) trades at $0.043, appreciating by a shallow 0.17% in the last 24 hours.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.