Zilliqa is a blockchain developed by National University of Singapore researchers.
They are planning to write another article to share more technical details, but for now we would like to highlight the tasks that we finished to move from testnet v0.1 to testnet v0.5:
* They have implemented full support for sharing transaction body asynchronously between nodes, not pegged to transmitting the blocks themselves. This by itself posed significant challenges to the coordination of the protocol running on the nodes. This required careful tuning and protocol optimizations.
* They have reorganized the intra-shard and inter-shard network topology to make block and transaction propagation much more efficient.
* They have incorporated several optimizations for inter-node communication, data transmission and data processing.
Dr. Xinshu Dong, CEO of Zilliqa, explained that the concept of sharding has the potential to solve the scalability problem with existing Blockchains using their technology of sharding. He also stated that goal of Zilliqa would be to “at least hit the average throughput of VISA and MasterCard,” which is around 8,000 TX/s.
Ethereum and Bitcoin are vastly inferior at handling large scale transaction loads; on average both Blockchains process between 7-10 TX/sec.
The Ziliqa team estimates that if it had as many nodes as are active in Ethereum, the platform would be able to manage over 15,000 TX/s, nearly twice as many as the VISA network’s average throughput, the largest global electronic payment system in the world.