This is the seventh part of a series that will cover all of the top 50 Cryptocurrencies and provide an introduction to what the coin does, why it matters, and any important highlights. The goal of the Top 50 series is to give readers a basic understanding of each coin that simplifies a thorough technical understanding into a few easy to understand points. The ranking of coins changes on a day by day basis and may not always reflect the order in this article.
31 of 35 — Ziliqa (ZIL)
Ziliqa is a highly scalable smart contract blockchain. It was developed after research into sharding techniques and is the first to deploy live sharding. It is important to note that Ziliqa sharding is different from what Ethereum proposes as sharding.
Sharding on Ziliqa is based on dividing the work done on the network among different working groups. This means that as the network grows and more nodes sign on, the number of transactions the network can process increases. Ziliqa uses a blend of Proof-of-Work and Byzantine Fault Tolerance (BFT) for its consensus system. It also has implemented State Sharding, which is the practice of dividing the storage of data among many different node groups instead of requiring each node to store all of the data. Ziliqa also features its own unique programming language. The Ziliqa founding team is a number of computer science PhD’s who have applied the latest computer science research to creating the Ziliqa platform.
32 of 35 — 0X (ZRX)
0x is an open protocol to support a decentralized exchange for the Ethereum ecosystem. The goal of 0X is to create a secure framework for all assets to be exchanged without a trusted intermediary. This extends to all assets listed on the Ethereum blockchain.
0x expands on the traditional decentralized exchange model by creating an adaptable protocol to eliminate the need to relay the entire orderbook and every transaction through the blockchain, something which creates unnecessary fees and slowdown.
This is a fundamental piece of infrastructure that will support the goals of the Ethereum platform and the goal of decentralized asset network. 0x was the first ERC-20 token to be added to Coinbase.
33 of 35 — Basic Attention Token (BAT)
Basic Attention Token allows consumers to opt-in to advertising and receive tokens for viewing advertisements from their selected advertisers. Advertisers can achieve better ROI as their audience indicates they want to receive and view advertisements and publishers will receive BAT based on user attention. Revenue will increase as inefficiencies decrease.
34 of 35- Decred (DCR)
Decred is a form of digital currency which is attempting to create a truly decentralized ecosystem with decentralized governance. It utilizes a mix of proof-of-work and proof-of-stake. Coin rewards are distributed between PoW miners and PoS validators.
Those who have staked coins will receive voting privileges to help make governance decisions for the network. Decred is working to integrate lightning network and automatic swaps.
In essence, Decred is a currency that is seeking to improve on the model pioneered by Bitcoin through governance functions and a different mining scheme. Time will tell if the approach has merit.
35 of 35- Lisk (LSK)
Lisk is a sidechain development platform that is designed to make it easier than ever to deploy a sidechain for a specific goal. The Lisk mainchain’s only function is to secure the various sidechains which will be developed. A developer cannot come to the Lisk platform and launch smart contracts on the Lisk mainchain, but they can use the Lisk Software Development Kit to create their own sidechain with great ease.
The Lisk main net is secured by a Delegated Proof-of-Stake consensus system. Under this system, Lisk owners vote to elect a variety of forging nodes to process transactions and secure sidechains.
Think of Lisk as a ready to go blockchain tool for applications. It doesn’t take the place of launching your own blockchain platform, but if a developer wants to create an application, Lisk is striving to be a simple and easy way to do it.