Amrit Kumar, Jia Yaoqi, Max Kantelia, and Prateek Saxena founded Zilliqa in 2016 as the first-ever high-throughput public blockchain able to process thousands of transactions per second. To implement this feature, Zilliqa leverages the principle of sharding: the more expanced the network is, the larger the transaction rates become.
Ethereum 2.0 is an upgrade on the Ethereum blockchain. This upgrade aims to make the existing Ethereum blockchain more scalable, secure, and sustainable. The entire upgrade is scheduled to happen over two years. It is distributed among three phases. The first phase is the launch of the Beacon chain which has already happened. The second phase is scheduled for 2021 when the shard chains will be introduced. In 2022 the upgrade will reach its completion with the merging of the mainnet with the beacon chain. Once this merging or ‘docking’ is done, the entire Ethereum network will be available for staking.
The Komodo platform, aimed at bringing new standards in cryptocurrency security and anonymity protocols, was founded in September 2016. Headquartered in San Gwann, Malta, the Komodo platform leverages the Zcash Zero-Knowledge proofs to help its users make 100% untraceable transactions. These transactions are protected by Bitcoin’s Petahash Proof of Work mechanism.
UMA stands for Universal Market Access. The UMA protocol, built on Ethereum, allows users to create custom collateralized synthetic assets where underlying assets can virtually be anything. In other words, the UMA protocol allows the traders to trade in any asset using ERC-20 tokens without the user having to expose themselves to the original asset itself. Since the basics of UMA protocol has to do with synthetic assets, let us have a brief overview of what synthetic assets are and what they imply in the world of cryptocurrency.
Binance smart chain became live on its mainnet on 17th September 2020. It took five months for the smart chain to go live since it was announced in April 2020. Since recently we added support to Binance Smart Chain, we will cover it in our next article.
According to market research estimates, blockchain technology will witness astounding growth in its market size in the next five years. Between 2020 and 2025, the global blockchain market size is expected to grow at a rate of 67.3% CAGR to reach US$39.7 billion in 2025 from US$3.0 billion in 2020.
