Established in 2017 by a team of committed academic associates and researchers from the National University of Singapore, Zilliqa Network solves the limited capability of leading blockchain networks like Bitcoin and Ethereum in handling large amounts of transaction data.
Zilliqa is designed to securely scale in an open, permissionless distributed network. Zilliqa is scalable because it uses sharding - the division of the network into several smaller components capable of processing transactions in parallel.
Zilliqa leverages proof-of-work (PoW) to establish identities and perform sharding. It will be able to match the average transaction rate of Visa and MasterCard with a network size of 10,000 nodes and lower transaction fees.