In my previous two articles, we reviewed 1) that Bitcoin and Ripple each took the concept of “blockchain” and implemented it differently to fit the needs and requirements of their respective applications, and 2) that Zilliqa significantly boosts transaction rates through the use of sharding.
Now, we will look at an example of the range of blockchain implementation variation driven by application purpose. We will consider the impact of the blockchain concept to mobile payments.
Mobile payments currently require users’ digital identity and payment information to be stored in centralized databases making them vulnerable to attack. Blockchain-p...
The Zilliqa blockchain application provides a good example for developers showing how the blockchain conceptual framework is different than specific blockchain implementations. It shows how to adapt the blockchain framework to fit the application.
Scalability has been one of the biggest issues for existing blockchain implementations. Zilliqa’s application offers a high-transaction rate blockchain platform. It can be used in other distributed applications to achieve ultra high transaction rates.
The transaction rate playing field
For reference here’s a rundown of the current transaction rate landscape:
Vitalik Buterin, the founder of the groundbreaking Ethereum cryptocurrency, stated in a recent BitNewsToday interview that 90% of token startups will fail. Sounds kind of jaded for a 23 year old, and especially cheeky, when you consider that Bitcoin rocketed to a record $18K this past week.
More than a few investors have been vindicated, this week, for having the vision to invest in Bitcoin.
But, before conclusions get jumped to, let’s take a deeper look at what this crypto whizz might be trying to tell investors. To start with, here are two reasons he gave for this observation.
1) Cryptocurrency has not yet made the transition to mainstream...