“Next-generation” cryptocurrency Zilliqa has introduced the launch of sensible contracts on its platform.
In an announcement despatched to CoinDesk, Zilliqa president and chief scientific officer Amrit Kumar stated passing the “milestone” means the venture has “developed the technology we envisioned two years ago, and now, we are open for business.”
Following the launch, builders will now have the ability to write and deploy sensible contracts on the Zilliqa blockchain with the challenge’s practical sensible contract language, Scilla.
“With this, we’ve come to realise our vision of a better smart contract language, one built with greater security guarantees at the language level,” claimed Kumar.
The Singapore-based crypto platform presents itself as fixing the widespread blockchain hurdle of scalability by way of sharding, an efficiency-boosting method that predates bitcoin however has but to show its viability in huge permissionless networks. The workforce claimed in its white paper in 2017 that “at ethereum’s present network size of 30,000 miners, Zilliqa would expect to process about [1,000] times the transaction rates of ethereum.”
Over the final six months, Zilliqa has handed different milestones, launching its mainnet and enabling transactions, Kumar stated. According to CoinMarketCap knowledge, its zilliqa (ZIL) token handed the $1 billion market cap threshold final May. At press time, that stands at round $200 million.
Among the core options provided by Zilliqa’s sensible contracts, Kumar listed that they’re amenable to formal verification and include a set of static analyzers that assist spot potential bugs and points in contracts. Further, the Scilla language is designed to deal with totally different operational elements, comparable to computation and communication with different contracts, in a “clean manner,” eliminating complicated interleaving.
“This can prevent incidents like the DAO and the Parity hacks,” Kumar stated.
Scilla additionally comes with a set of normal libraries, corresponding to one which performs arithmetic operations in a “safe manner,” eradicating the necessity to depend on exterior libraries.
Zilliqa flag picture by way of Shutterstock