Back in 2017. We were on the crypto scene looking for the next Google, the next Facebook. The next big thing that would revolutionize the space. As the price of bitcoin was sky rocketing to its ATH we knew a few things.
1 – Cryptocurrency needs scaling.
As bitcoin was climbing up in its parabola. The cost of doing business grew and grew. Sending Bitcoin was very expensive and very slow. Not only was Bitcoin slow and expensive, so was Ethereum. We had to fight with the network to get into ICO’s and even more so after crypto kitties grew in popularity. Crypto Kitties alone was constantly clogging up the network. Between that and the ICOs ETH was also very slow and grew more expensive to send money.
2 – Cryptocurrency needs a solution that caters to B2B and B2C clients.
The last crypto boom was the mom and pop investors that seen the potential to make gains. The crash allowed the institutions to get in the market cheap. Now that they are in the space. They need solutions that are quick, cheap and efficient. Could you imagine taking Bitcoin payments at your storefront and having to wait for hours for confirmation? This simply will not work if this space is to become a market with over 1 trillion dollars being transacted in it. It wont work with BTC and it wont work with ETH until they can scale, and this is not happening any time soon. In this bull cycle, it is likely we will see more businesses doing business on chain. Real adoption is when you see non traders using crypto and this is happening with projects running on Zilliqa as Zilliqa is targeting and attracting real B2B clients who have real customers that use the services as we can see with Bolt, Mindshare and other partnerships that are coming with Zilliqa.
3 – Cryptocurrency is maturing.
As a result of institutions entering the space, crypto is evolving. The last bust happened for many reasons. The market was unsustainable. As much as bitcoin is king there is no way that it will work as a payment solution in its current state. It is however a great store of value. ETH is tech that may become outdated. This will likely happen long before people accept the fact that it is, and it is already on the road to this as of now. Why? because we have sharding, live on Zilliqa. Take these facts and connect the dots. Will businesses hold STO’s and ICO’s on ETH when there is a better solution? Will ETH sustain the coming influx of B2B and B2C market share on its platform when it cannot even handle something like crypto kitties? Where will these businesses build their DaaP’s? Could you imagine any relatively large company running a DaaP on any of these slower chains if they need to facilitate millions of clients? Which bring us to the next point.
4 – We need more security on chain.
ETH is known for being a hackers paradise. In the last cycle ETH was plagued with hacks. When prices go back up this will continue because where there is value, there will always be people who will attempt to take value. We had to be very diligent (and we still do) being in the crypto space. Zilliqa is solving the issue of running smart contracts whilst maintaining security. This is something that businesses will look toward when they run onchain business.
5 – Mining is arguably bad for the environment.
Again, think scalability here. If the entire world adopted cryptocurrency, could we mine it efficiently and eco friendly? Projects like Zilliqa bring this answer closer to yes.
6 – Back to the scalability aspect.
We need something that can scale with the market. As of now using BTC and ETH are fast and cheap because the market cap of crypto as of now is $251,824,322,149. When the market cap was around 800BN both of these networks became unusable to some extent. They have a roof. We need something that will work regardless of how much money is being moved on it, regardless of how big the network grows. Why?
7 – Humanity is in a parabolic technological growth spike.
And cryptocurrency is part of this growth spike. Also IOT is coming and it will be facilitated on cryptocurrency. It must be, because our traditional methods of payment is too slow and simply will not work with the speed of machine to machine transactions and automation. Wether we like it or not or want to admit it or not. Cryptocurrency is highly likely to become the norm in the near future. Both as payment solutions and as a replacement of the traditional markets. It will also be how machine to machine transactions will be done. In its evolution Zilliqa is one of the major projects that will facilitate the growth of over all adoption because it can handle the load and scale up as more people and machines use it.
As we read the white paper, we were all in on Zilliqa because it is clear to see that this project is a heavy contender to be the next step in the chain of evolution, not only for cryptocurrency but for the parabolic growth in technological advancement over all. High throughput is not just a buzzword. It is something that is highly needed for the cryptocurrency market to grow from being the infant that it is, into a multi trillion dollar industry and way of doing business. This is the reality of the bigger picture.
If something saves money and saves time people will use it. It’s that simple. The aim of cryptocurrency is to give us our sovereignty back, give our anonymity back but in such a way where we can still trade fairly, save us time and save us money. One of the reasons we have not seen more adoption in cryptocurrency (and was rejected at the 830BN level) is for the simple fact that businesses cannot work with legacy tech in the space, they cant work with BTC in a viable way for every day high volume business, nor can they on ETH. Now they can, on Zilliqa.
This is why we believe strongly in the vision and tech behind Zilliqa and why we have supported the project since its inception. This is why companies like Mindshare, a digital advertising agency who works with the likes of Pepsi co, Unstoppable domains which is a domain registrar providing domains which cannot be censored, Bolt which is a digital media service that already caters to 3 Million clients and is partnered with the likes of Disney and Al Jazeera all are building on Zilliqa and there is more to come. Again, real companies building real applications for real customers on Zilliqa. This is adoption.
There are a lot of nay sayers and traders who overlook Zilliqa but this is for the simple fact that they lack the long term vision to see past the pump and dumps. There are also those in the crypto space who believe that a working sharding solution is too good to be true. Zilliqa has been working over the bear market, proving it can be done. As of now, Zilliqa is the worlds first working sharding platform. It has 1st mover advantage in the market and light years ahead of the copycats, it has meaningful companies building meaningful projects on it, It can compete with VISA and Mastercard in transaction rates. This is the golden ticket and 100% necessary for cryptocurrency to be adopted by the masses.
Zilliqa has been spending the past year bear market building. The main net is now live and smart contracts will be online as of June 10 2019. We have been closely watching Zilliqa’s team and community since the white paper release and they have shown and proven again and again. Now that the smart contract platform will be fully operational the team will be focusing on marketing and on boarding. This means that right now is the best time to buy Zilliqa before the rush and get in at a great price point.
If you are new to the crypto space, an OG trader, an institution, a programmer, a business or miner. We highly suggest that you look into accumulating Zilliqa and holding it long term, we highly suggest looking toward Zilliqa to build your project/business on for the coming bull market and we highly suggest choosing ZIL for your mining operation as it is efficient and eco friendly.Tags: scaling, sharding, Zilliqa
Categorised in: Cryptocurrency Markets
This post was written by BlockAdvisor