Zilliqa, a cryptocurrency that boasts a blockchain with an extraordinarily high transaction rate, surged today as both its value and trade volume exploded following its listings on both OKEx and Bithumb.
“Ziliqa is the fastest public blockchain in existence that has expanded its transaction rate through its own technology to improve the scalability and security issues of cryptocurrency and is able to handle 2,488tx per second,” Bithumb wrote in its announcement.
As part of its listing on Bithumb, people trading or depositing it from today until May 16 will get 1% back on their transactions at the beginning of next month. This also applies to ETHOS, the second cryptocurrency that the exchange listed.
Right after this announcement was made, Zilliqa went up with a vengeance, from a value of 18 cents to a peak of 23, a whopping 28% increase. It’s cooled down a bit since, hovering at around 20 cents, giving it a still-respectable 11% increase.
Its trading volume, however, shot up almost five times, from roughly $153 million yesterday to over $745 million at the time this report was written.
Zilliqa may have benefited significantly from these two exchanges’ announcements, but the truth is that the cryptocurrency has been on a rampage since March, with its trajectory going almost vertical since May 5th.
The coin achieves its brilliant blockchain velocity due to sharding, a concept that Vitalik Buterin has been pondering for a while to address the scaling issue in many coins’ infrastructures.
As it exists right now, Zilliqa is an ERC20 token, but the team said that this won’t be the case for very long as the coin will be going native later this year once it gets its mainnet platform up and running.
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