Zilliqa is on the road to launch its testnet, with updates coming hard and fast for ZIL HODLers. The testnet will feature a powerful new smart contract language known as Scilla, which aims to “bring a new level of security” to the dApps in the Zilliqa blockchain.
Meanwhile, they are also developing initiatives aimed at ease of use and migration to the Zilliqa blockchain. They recently announced an initiative to incentivize development and building of new apps in the ecosystem, where a team or individual developers can apply for the Zilliqa Ecosystem Grant. The grant will be given to those who build tools or dApps, with a pool of $5 million.
The testnet changes the way mining rewards work, with nodes that participate more in the consensus, are rewarded with more tokens. This is determined by the signature count of each node. Zilliqa CEO Xinshu Dong said:
“With this scheme, every node will be treated fairly and tokens are distributed more evenly every epoch.”
The update implements a standalone web-based Scilla Integrated Development Environment, whose purpose is testing smart contracts. It provides an interface for developers to simulate a blockchain environment. It also features major changes to the interpreter and language part of the Zilliqa blockchain. The team has also coded a standard library that includes basic operations on a selected number of data primitives and data structures.
“We now have a basic implementation of the gas mechanism. In the current implementation, a normal payment-like transaction from a non-contract account to another non-contract account costs 1 unit of gas. Any call from a non-contract account or otherwise to a contract costs 10 units of gas, and creating a contract requires 50 units of gas.”
Zilliqa Foundation also released a list of new dApps for the ecosystem, most notable of which is Spokkz. Spokkz is an initiative by online streaming service Spuul, which has over 57 million users.
Another dApp that was released was Bolt, which aims to be an open entertainment network. It functions as a way to access education, content and data resources.
Subscribe to AMBCrypto’s Newsletter
Bahrain to allow crypto-asset platform operators on a nine-month trial basis
EOS and Litecoin [LTC] lead the charge as the cryptocurrency market continues to rise
Dow Jones: Market slips as Trump claims ‘there is nothing magical’ about US-China talks
XRP/USD Price Analysis: Cryptocurrency settles into sideways movement as bull run ends
XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP
DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Ethereum [ETH] could have been stolen through malware impersonating MetaMask
After Bitcoin [BTC] ETF silver lining, SEC puts forth circular on ICOs
Bitcoin [BTC]: Mt Gox redemption plan demonstrates the power of open source network, says Brock Pierce
- Press Release
A New Generation of Crypto-Exchange: ALL IN ONE Crypto-Exchange
- Bitcoin Cash
Bitcoin Cash [BCH] support rolled out by Coinbase custodial wallet app
Flash Hike: XRP pumps by 10% as most top-10 coins gleam green