What is the Zilliqa token (ZIL)?
The Zilliqa token (ZIL) is the native cryptocurrency of the Zilliqa blockchain platform.
It is used to pay for transaction fees, incentivize miners, and facilitate smart contracts. ZIL is an ERC-20 token that was launched in 2018 and has a total supply of 12.6 billion tokens.
It is currently listed on several major exchanges, including Binance, Huobi Global, OKEx, and KuCoin. The Zilliqa platform uses a unique consensus mechanism called sharding to enable high throughput and scalability. This allows for more transactions to be processed at once without sacrificing security or decentralization.
The ZIL token is used to reward miners for verifying transactions on the network and also serves as a payment method for transaction fees. In addition to its use as a currency, ZIL can also be used to facilitate smart contracts on the Zilliqa blockchain. Smart contracts are self-executing agreements that are written in code and stored on the blockchain.
They allow users to exchange money, property, or other assets without relying on third parties such as banks or lawyers.
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