Zilliqa's unique architecture and new metaverse
Seemingly every blockchain in the world claims to be unique and solve problems that others haven't yet. Zilliqa is different, since they possess traits unique to other blockchains that actually benefit the end user. Their core devs have recently been working on a metaverse titled "Metapolis," which is poised to bring a new wave of users to Zilliqa. This new world will feature a wide range of uses including staking, NFTs, VR and a lot more.
Started in Singapore in 2017, Zilliqa is a public, open source blockchain that was the first in the crypto industry to implement sharding.
Sharding is a scaling technique for blockchains to partition data across multiple shards, allowing for high efficiency and performance. In fact, over time as more transactions occur on the blockchain, transactions per second (TPS) eventually increase. Blockchains such as Harmony One, Near Protocol, Ethereum 2.0 and Polkadot use sharding too.
Zilliqa has released a roadmap, which details the steps of rolling out the various features of Metapolis. The 1st phase involves an introduction to Metapolis, phase 2 is the public release of Metapolis for testing, the third phase features advertising among other public events, and phase 4 involves an app release, staking and VR.
Currently, Zilliqa is nearing the end of its first phase of Metapolis. The roadmap appears to be moving well along.
A challenge for Metapolis will be its competitors like Decentraland and The Sandbox that hold a majority of the blockchain metaverse market. They have already launched comprehensive virtual worlds with majors companies like Samsung and Nike building on them.
Along with the growing adoption of these virtual worlds, the tokens of both projects saw a meteoric rise in the last bull run. Wall Street investors are starting to dip their toes in the crypto market and were a large reason behind this recent metaverse craze.
Unfortunately for Zilliqa, the ZIL price has underperformed these projects' tokens.
ZIL price analysis
So far, Zilliqa has not had such a great year. The price struggled to break past $0.06 back in January and recently has been in a strong bearish trend. The price is currently hovering at a support around $0.038. If there is a move below this price, there could be further downward momentum in the near future. If the price breaks a resistance around $0.04, a strong uptrend could form.
Of course, a large reason of Zilliqa's lackluster price performance is simply the broad state of the market. Unless the conflict in Ukraine ends soon, there could be more selling.
Currently, the most popular dapp on Zilliqa is called XCAD, which enables creators on youtube to earn crypto among other benefits. Metapolis and XCAD are certainly the catalysts Zilliqa needs for the price to rise.
As a result of the large number of new investors entering the crypto space, the looming challenges presented by rivals may not present much of an issue to Metapolis.
The head of metaverse and NFTs at Zilliqa, Sandra Helou, and her team are world-class professionals who have the experience to produce an amazing metaverse world. With everything considered, Zilliqa could potentially gobble up a significant share of the metaverse sector from others.