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.

Ethereum [12]), where PoW is used to reach distributed consensus. ZILLIQA employs Ethash [13], the PoW algorithm used in Ethereum 1.0. Ethash is a memory hard hash function designed to make it easy to mine with GPUs but hard with specialized computing hardware such as ASICs. To achieve this, Ethash computation

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