Zilliqa

The native utility token of the Zilliqa network is ZIL, which is used to process transactions and execute smart contracts. Zilliqa has a fixed maximum supply of 21 billion ZIL tokens, with 60% initially distributed through a token generation event and the remaining 40% to be mined over a 10-year period.

Zilliqa claims to be the world's first public blockchain to rely entirely on a sharded network architecture. This allows it to achieve unprecedented transaction speeds and scalability, as each shard can process transactions in parallel. Zilliqa aims to rival traditional payment methods like Visa and Mastercard in terms of transaction throughput. It also developed its own programming language called Scilla for writing secure and formally verifiable smart contracts. Additionally, Zilliqa is backed by significant token reserves held by its founding entities, Anquan Capital and Zilliqa Research.

The Zilliqa network uses a Practical Byzantine Fault Tolerance (pBFT) consensus protocol, which requires at least two-thirds of all nodes to agree on the accuracy of a record before it can be added to the blockchain. Each shard has its own group of nodes that confirm a subset of transactions, and then a second group of nodes validates the shards' collective results. Zilliqa also employs elliptic-curve cryptography and a proof-of-work algorithm to secure its consensus mechanism and node identities. Additionally, Zilliqa developed its own smart contract programming language, Scilla, to improve security and facilitate formal verification of smart contracts.