Transcription of The ZILLIQA Technical Whitepaper
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The ZILLIQA Technical Whitepaper
The ZILLIQAT echnical Whitepaper [Version ]August 10, 2017 The @zilliqaAbstract Existing cryptocurrencies and smart contract plat-forms are known to have scalability issues, , the number oftransactions they are capable of processing per second is limited,usually less than 10. As the number of applications utilizingpublic cryptocurrencies and smart contract platforms grow, thedemand for processing high transaction rates in the order ofhundreds and thousands of Tx/s is this work, we presentZILLIQA a new blockchain platformthat is designed to scale in transaction rates. As the number ofminers inZILLIQA increases, its transaction rates are expected toincrease. At Ethereum s present network size of 30,000 miners, ZILLIQA would expect to process about a thousand times thetransaction rates of Ethereum. The cornerstone inZILLIQA sdesign is the idea ofsharding dividing the mining networkinto smaller shards each capable of processing transactions proposes an innovative special-purpose smartcontract language and execution environment that leverages theunderlying architecture to provide a large scale and highlyefficient computation platform.
per second (Tx/s). As the number of applications utilizing public cryptocurrencies and smart contract platforms grow, the demand for processing high transaction rates in the order of hundreds of Tx/s is increasing. A global payment network would likely require tens of thousands of Tx/s in capacity. Can we build a decentralized and open ...
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