governance ZIL

What is Governance ZIL?

Governance ZIL (gZIL) stands as the cornerstone of Zilliqa's decentralized governance framework, empowering long-term token holders to actively participate in shaping the trajectory of the Zilliqa ecosystem. Each gZIL token represents a vote, endowing holders with the privilege to influence critical decisions regarding network upgrades, protocol changes, and ecosystem enhancements.

By acquiring and holding gZIL tokens, users gain a vested interest in the sustainable growth and development of the Zilliqa platform, thereby fostering a culture of collective ownership and community-driven governance. Moreover, the governance process, facilitated through transparent and democratic mechanisms, ensures that every voice is heard and every contribution is valued, culminating in a resilient and adaptive ecosystem that remains responsive to the evolving needs and aspirations of its stakeholders.

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Recent Video Interview

Main points of the interview:

• Emphasis on gaming, aiming to create revenue-generating businesses and attract developers and gamers to Zil.
• Partnership with Racing League to bring digital audience into horse racing.
• Plans for expansion into UK, Southeast Asia, targeting luxury, racing, and esports markets.
• Pivoting from the console project to focus on real-world asset capability on-chain.

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What is Zilliqa?

Zilliqa stands at the vanguard of blockchain innovation, pioneering groundbreaking solutions to the industry's most pressing challenges. Founded in 2017, Zilliqa introduced sharding, a revolutionary technique that enables horizontal scaling by dividing the network into smaller, more manageable shards. This breakthrough not only catapulted Zilliqa to the forefront of scalability but also laid the foundation for a new era of high-throughput blockchain solutions. Complementing its scalability prowess, Zilliqa prioritizes smart contract safety with the development of Scilla, a rigorously audited programming language designed to mitigate common vulnerabilities and ensure the integrity of decentralized applications (dApps). As a result, Zilliqa offers users a robust and secure platform for building and deploying a diverse range of decentralized applications, spanning decentralized finance (DeFi), non-fungible tokens (NFTs), and beyond.

What is ZIL?

ZIL, standing for Zilliqa, emerges as a native token fueling the Zilliqa blockchain, meticulously engineered to catalyze and amplify the potential of decentralized applications (dApps) across multifarious sectors, ranging from robust financial infrastructures to vibrant NFT marketplaces. This dynamic token ecosystem fosters an environment where users can seamlessly interact with an extensive array of dApps and platform services thriving on the Zilliqa blockchain. Here's a comprehensive exploration of what ZIL enables:

• Empowering Decentralized Applications (dApps): Zilliqa's network harbors a rich assortment of dApps, particularly emphasizing the burgeoning domain of decentralized finance (DeFi), thereby presenting users with an array of innovative financial instruments and services.
• Ecosystem tokens: Many dApps within the Zilliqa ecosystem have launched their native tokens, enriching the digital asset landscape and offering users diverse avenues for participation and investment. Market data for these tokens is conveniently accessible through ZilStream, facilitating informed decision-making.
• Rewards through Staking: By staking their ZIL tokens, users actively contribute to the security and stability of the Zilliqa network while simultaneously earning eco-friendly rewards, thereby incentivizing long-term engagement and commitment.
• NFTs and the Metaverse: Zilliqa stands at the forefront of the creator economy, providing a robust platform for the creation, exchange, and monetization of Non-Fungible Tokens (NFTs). Users can seamlessly participate in the burgeoning metaverse and the digitization of assets using ZIL as a medium of exchange.

Pioneering the Creator Economy

Zilliqa remains steadfast in its commitment to nurturing the burgeoning creator economy, providing content creators with unprecedented opportunities to monetize their work and engage with their audience. Platforms such as the XCAD Network, PELE, and ZilWall serve as vibrant hubs for creativity and collaboration, facilitating the creation and exchange of digital content in a decentralized and permissionless manner. Additionally, the Creator Fund, a flagship initiative by Zilliqa, allocates substantial resources towards supporting innovation in the NFT and metaverse space, fostering a thriving ecosystem of artists, curators, and enthusiasts.

Team Background

Zilliqa thrives on collaboration, uniting over 50 scientists, engineers, venture creators, and industry experts dedicated to advancing blockchain scalability and sustainability. Recognizing the industry's nascent stage and vast potential, the team remains committed to innovation. Leadership is anchored by individuals with diverse expertise, including Mark Hemsley as Chairman of the Board, Matt Dyer as interim CEO, and Richard Watts as CTO, overseeing technology strategy.

Tom Fleetham spearheads business development in sports and gaming, while Bradley Laws manages investor relations and venture investments. Alex Speirs leads communications, drawing on extensive experience in journalism and finance. Co-founders Max Kantelia and Juzar Motiwalla bring decades of entrepreneurial and investment acumen, shaping Zilliqa's vision for the future of blockchain technology.

Other Governance Assets

Some other governance assets similar to gZIL: TokenFi, Covalent, BakerySwap, Cream, Minswap, JPEG'd, Tower, Everest...

Project Development

In the upcoming Zilliqa v9.3.4 network upgrade, significant enhancements to Ethereum Virtual Machine (EVM) compatibility are poised to revolutionize the development experience on the Zilliqa blockchain. Addressing user and developer feedback, the infrastructure team is dedicated to refining the network's EVM implementation to streamline contract deployment and transaction interaction. This upgrade aims to rectify specific bugs while delivering improvements to gas estimation accuracy, log event handling, and transaction count queries.

Notably, issues such as gas estimation discrepancies and duplicate log events will be resolved, alongside enhancements to transaction count and log availability. Additionally, plans for further improvements, including the migration to Zilliqa 2.0, underscore the platform's commitment to continuous enhancement and community-driven development.

governance ZIL Price Analysis

As of December 5 2024 governance ZIL has a marketcap of $4.2M. This is {{percentagefromath}} from its all time high of $657.90. In terms of its tokenomics, there's a total supply of 723K with 77% currently outstanding. Keep in mind governance ZIL has a fully diluted value of $5.4M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.