The latest Zilliqa 2.0 whitepaper has just been published, unveiling significant upgrades aimed at revolutionizing the network into a more user-friendly and efficient blockchain system. These improvements position Zilliqa as a dominant player in the Web3 arena.
One of the key highlights is the launch of the Polygon Governance Hub, a transparent and unified interface for community governance, created in collaboration with @AragonProject. Developed in close partnership with the community, the hub signifies a new era for Polygon governance and community ownership.
The introduction of X-shards represents a groundbreaking advancement in Zilliqa’s sharding technology. This innovative structure allows for customizable blockchain instances tailored to specific user and application requirements. X-shards can adapt their native tokens, transaction costs, privacy settings, and consensus models, ensuring versatility and compatibility within the ecosystem.
Zilliqa 2.0 transitions from a Proof-of-Work to a Proof-of-Stake (PoS) consensus mechanism, boosting transaction speed and reducing energy consumption. This transition promises a 30x enhancement in block times and a 10x increase in transaction finality speed compared to the previous system, making Zilliqa more sustainable and efficient.
The enhanced cross-chain communication feature in Zilliqa 2.0, with native EVM compatibility and a new Universal Cross-Chain Broker, strengthens its interoperability with other blockchain networks. This functionality facilitates seamless transactions and integrations across platforms, fostering a more interconnected and accessible blockchain ecosystem.
Smart accounts are a new addition in Zilliqa 2.0, simplifying interactions with the blockchain. These accounts support advanced features like social media sign-ins, alternative gas payment options, and protection against incorrect transfers, making blockchain as user-friendly as traditional web services.
The introduction of light clients in Zilliqa 2.0 enables users to interact with the blockchain without storing its entire history, enabling secure and decentralized applications on mobile and lightweight devices. This feature is crucial for enhancing user autonomy and network decentralization.
The updated tokenomics of Zilliqa 2.0 are designed to ensure the longevity and stability of the ZIL token. Adjustments in reward distribution and inflation control are aimed at creating a sustainable economic model that benefits validators and users alike.