Zilliqa

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Zilliqa (ZIL) price surged significantly today, following the latest halving mechanism implementation.</li> 
 <li>The halving mechanism will take place every month.</li> 
</ul> 
<p>The price of Zilliqa (ZIL) surged significantly today, following the project’s latest implementation.</p> 
<p>At the moment of writing this article, ZIL is trading above $0.0158, up by over 7% in the past 24 hours.</p> 
<p>The coin’s total market cap is currently over $301 million.</p> 
<figure id="attachment_51685" aria-describedby="caption-attachment-51685" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1.jpeg"><img loading="lazy" decoding="async" class="wp-image-51685 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1.jpeg" alt="ZIL price in USD today" width="1200" height="800" title="Zilliqa Announces Monthly Halving Implementation, ZIL Price Surges by Over 7% 33" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/ZIL_1D_graph_coinmarketcap-1-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-51685" class="wp-caption-text">
  ZIL price in USD today
 </figcaption>
</figure> 
<p>In the past week, ZIL’s price surged by more than 8%, following a dip to $0.01 levels on October 10.</p> 
<p>Today’s price surge comes following an important announcement made by the team behind the project.</p> 
<h2 id="zilliqa-moves-towards-pos-adopton-with-halving-mechanism">Zilliqa Moves Towards PoS Adopton With Halving Mechanism</h2> 
<p>In an official X <a href="https://x.com/zilliqa/status/1845756877629489537" rel="nofollow" target="_blank">post</a>, the team at Zilliqa announced an important step for the network. The proposal to halve mining rewards has officially passed with huge support from the community.</p> 
<p>Starting in October, the monthly mining rewards will be halved on a monthly basis.</p> 
<p>Zilliqa noted that this reduction marks an important moment that accelerates their journey toward full PoS adoption for Zlliqa 2.0.</p> 
<p>In the team’s official<a href="https://blog.zilliqa.com/zilliqa-implements-halving-mechanism-for-mining-rewards/" rel="nofollow noopener" target="_blank"> blog post</a>, they also noted that the change was implemented in line with Zilliqa’s decentralized governance protocol.</p> 
<p>The proposal was first published on the Zillqa governance forum on September 24, where it was discussed amongst the community.</p> 
<h2 id="zil-surplus-reallocation">ZIL Surplus Reallocation</h2> 
<p>The latest move is reportedly not only about reducing rewards but also involves a ZIL surplus reallocation.</p> 
<p>According to the official announcement, the ZIL surplus from the halving can be reallocated for use by holders, fuelling community-driven investments and creating more opportunities for developers, validators, and builders.</p> 
<h2 id="what-is-zilliqa-zil">What is Zilliqa (ZIL)?</h2> 
<p>Zilliqa is a public, permissionless blockchain that is designed to offer high throughput, and can complete thousands of transactions per second.</p> 
<p>The network’s aim is to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. Sharding is a process that splits a larger blockchain into smaller and more manageable shares called shards.</p> 
<p>The native utility token of the blockchain is <a href="https://crypto.ro/en/cryptocurrencies/zilliqa/">ZIL</a> and it’s used to process transactions on the network and execute smart contracts.</p>

Zilliqa Announces Monthly Halving Implementation, ZIL Price Surges by Over 7%

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