What coin is ZIL coin?

ZIL coin is the native token of the Zilliqa blockchain platform, and its uses include transactions, network security, smart contract execution and governance. Its technical features include sharding, high throughput, low transaction fees and programmability. ZIL is widely used in payment, DeFi, gaming and identity verification fields.

What is ZIL coin?

ZIL Coin is the native token of the Zilliqa blockchain platform, launched in 2017. It is a multi-purpose cryptocurrency used for the following purposes:

Trading and Settlement:

• ZIL can be used to conduct transactions on the Zilliqa blockchain and settlement.

Network Security:

• ZIL is used as a reward for miners and to protect network security.

Smart contract execution:

• ZIL is used to pay the fees required to execute smart contracts.

Governance:

• ZIL holders can participate in Zilliqa network governance and vote on protocol updates.

Technical features:

• Consensus mechanism: Zilliqa uses sharding technology, which divides the network into smaller section to improve throughput and scalability.
• High Throughput: Zilliqa can handle thousands of transactions per second.
• Low Transaction Fees: ZILL transaction fees are relatively low compared to other cryptocurrencies.
• Programmability: Zilliqa has smart contract capabilities that allow developers to build custom applications.

Uses:

ZIL coins are widely used in the following fields:

• Payment: Zilliqa partners with multiple payment gateways to allow users to use ZIL for online and in-store purchases.
• Decentralized Finance (DeFi): ZIL can be used in DeFi applications such as lending platforms and decentralized exchanges.
• Games: Zilliqa is working with game developers to explore integrating ZIL into games.
• Authentication: ZIL can be used to create verifiable digital identities, simplifying online interactions.

The above is the detailed content of What coin is ZIL coin?. For more information, please follow other related articles on the PHP Chinese website!