Zilliqa to Launch Mainnet Smart Contract

Zilliqa has conducted a successful tokensale back in January 2018, reaching the $22M hardcap
11 June 2019   781

The developers of the blockchain project Zilliqa announced the launch of smart contracts based on the Scilla language in their core network.

In 2017, we envisioned creating the first ever- public blockchain based on sharding - one offering superior security, user-convenience and a high performance platform. Guess what Today, we've delivered on this. We are thrilled to declare smart contracts officially launched!!!

Amrit Kumar

President and CSO, Zilliqa

Zilliqa smart contracts are subject to formal verification and are equipped with a set of static analyzers that help identify potential errors and bugs.

In addition, the Scilla language allows you to handle various operational components, such as computing and communication with other contracts, in a “clean way”, eliminating complex interlaces. According to the developers, this will help prevent such incidents like hacking DAO and Parity.

To solve the scalability problem, Zilliqa uses sharding technology. In 2017, the developers said they would bypass Ethereum 1,000 times the transaction processing speed.

At the end of January, the official launch of the main Zilliqa network took place. At the same time, representatives of the project announced plans to launch an exchange for the trade in tokenized shares of Uber, Airbnb and SpaceX.

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   797

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.