The highly anticipated version 2.0 upgrade has been officially published by the blockchain network Zilliqa and is scheduled to be deployed on the mainnet later in 2024.
The network claims the new version will enhance the platform’s efficiency, speed, and compatibility with other blockchain networks.
Features of Zilliqa 2.0
The sharding architecture, known as x-shards, is the foundation of Zilliqa 2.0. This feature enables users to construct any project they desire on the Zilliqa platform, as it enables businesses and developers to customize blockchain experiences to meet their specific requirements.
Blockchain and database systems implement sharding to optimize their scalability and performance. This increases their efficiency and enables them to process more transactions without experiencing any delays.
The white paper introduces a new proof-of-stake consensus mechanism, which replaces the energy-intensive proof-of-work system in addition to x-shards. This modification enhances the network’s environmental sustainability, facilitating ultra-fast finality and improved security.
Additionally, it is feasible to modify block times to one’s liking. The average block duration of the root mainnet shard is a mere two seconds. The network upgrade also includes:
- A cross-chain communication center.
- Simplifying the interaction between x-shards.
- The Zilliqa mainnet.
- Other Ethereum Virtual Machine (EVM)-compatible blockchains.
Zilliqa 2.0 is EVM-compatible, which enables it to operate smart contracts written in languages such as Solidity and integrate seamlessly with popular wallets such as MetaMask.
Scilla will continue to receive support from the network, which will facilitate the seamless integration of both contract languages. Furthermore, it will incorporate features such as EVM-compatible account abstraction, enabling the conversion of tokens for gas fees and the creation of smart accounts.
Additionally, the network’s tokenomics have been revised to facilitate the transition to proof-of-stake. This modification reduces inflation and offers alluring and sustainable rewards to those who stake their tokens.
Zilliqa’s Network Outages
Zilliga’s white paper and roadmap publication result from numerous operational disruptions that have affected block production on its mainnet. Nevertheless, the network has been fully operationalized.
In December 2023, the daily number of Zilliqa blockchain transactions decreased by approximately 50%, from 61,000 to 30,906. This was due to an “interruption to block production.”
