What is Zilliqa?
Zilliqa is a blockchain platform that uses sharding for user scalability. Currently, it is competing with all the other blockchain platforms out there to grow a complete ecosystem of decentralized applications for every user’s ease.
The best thing about the platform for users is that it can handle both large as well as micro-transaction values. If you are transacting through this platform, you won’t have to bear high transaction fees. So, you can get incredible speed with low fees on Zilliqa blockchain.
Co-founders Amrit Kumar and Xinshu Don came together to launch Zilliqa in June 2017. The project also launched its native cryptocurrency, ZIL, in 2017.
Zilliqa is a user-friendly platform that allows you to easily create secure DApps. The platform offers some of the most common features like transaction settlement, token issuance, and smart contracting. Developers can even use Scilla (Zilliqa’s proprietary language) for executing smart contracts and building various DApps.
The best thing about the Zilliqa network is that the transactional costs are extremely low. So, you can expect speedy transactions at low rates. On top of that, Zilliqa is a highly-scalable network because, with an increase in the number of users, you can directly increase the sharding. Mining ZIL tokens is cost-effective, making them accessible to even lower-powered hardware.
ZIL Coin Unique Features
Are you thinking, what does Zilliqa coin do? Here, you will find the right answer to this question. ZIL tokens are used to maintain the complete operability of the Zilliqa network, along with sending transactions and executing programs.
Now, you know what is Zilliqa coin, so we are going to focus more on its features over here. Some of the key features of the ZIL token are:
- Provides faster transaction speed as well as high throughput
- Issue of scalability is resolved because of sharding
- Better control opportunities for developing and adding new nodes in the blockchain network
- The consensus protocol of the Zilliqa network is secured through elliptic-curve cryptography.
- Transaction cost is extremely low
- You can also stake your ZIL tokens to earn some extra tokens.
- 1st blockchain network to work with the technology of sharding
Why use ZIL Coin as a Collateral
Now, you know a lot about ZIL coin, its features, and also its network. Currently, the Zilliqa coin price is around $0.04. Are you thinking, why is Zilliqa pumping? Then the reason behind it is its sharding technology.
Taking out a ZIL coin loan will be the best thing because of various reasons. You can take out a crypto loan in exchange for your ZIL tokens on CoinRabbit. This will allow you to hold the tokens without selling them and also earn some interest on them.
A few other reasons that will make it clear why you should get Zilliqa loan are listed below:
- You can spend the received crypto loan in any way you wish.
- You won’t have to switch to any other crypto or even sell your tokens when you take out a ZIL loan. You will get to own them.
- There are no time frames for crypto loans on CoinRabbit. So, you can repay at your convenience.
- CoinRabbit allows you to get quick crypto loans with no requirement of KYC or credit checks.
Even if there are market fluctuations, you won’t have to worry about your crypto value degrading when you get Zilliqa loan.
How to take a loan using a ZIL coin?
Now, you are pretty much aware of why you should get Zilliqa loan. But if you wish to take out an instant loan, then you need to find some trustworthy platform like CoinRabbit. It is definitely the best place to lend your ZIL tokens and get an instant loan.
You can follow the below steps to get an instant ZIL loan:
- Head over to the homepage of CoinRabbit.
- You will see two different tabs – Loans and Savings. Click on the ‘Loans’ tab.
- Now, select your preferred collateral as ZIL tokens.
- Enter the exact amount of ZIL tokens that you wish to use as collateral.
- Once you enter the collateral amount, you will see that the calculator performs all the calculations and presents you with the exact loan amount that you can receive for your collateral.
- If you wish to proceed further, you just have to click on ‘Get Loan.’ As you enter your mobile number and stable coin address, you have to agree with the loan terms. Later on, you will receive your loan in no time.
If you don’t wish to sell your ZIL tokens, you should definitely consider taking out a loan against ZIL tokens. CoinRabbit will allow you to get an instant loan with no credit checks and no KYC requirements. As you can get the loan within a few minutes with no time frame to repay the loan, people find it beneficial to get a loan from CoinRabbit and also get 24/7 support from them.