Zilliqa is enjoying upturn in the market hours after the project announced the implementation of a new update on its network to enhance effectiveness and efficiency. In the last 24 hours of trading, Zil has been in the green market zone, earlier before a number of cryptocurrencies that are now also on the profiting side.
Zilliqa had announced on the 17th of December that it launched Zilliqa 6.0.0 which was the final update of the year.
Zilliqa 6.0.0 Update: The Last of 2019
The update is focused on improving the user interface of the Zilliqa network with the platform developing easier data access and increased block times.
Zilliqa is looking to improve the transaction time on its network by increasing the number of transactions that can be processed at a time. In addition, Zilliqa also looked to find a solution to the problem of accessing data on its mainnet for dApp developers.
One way in which Zilliqa is looking to tackle this issue is through the use of WebSocket protocol. According to the post, the latest upgrade introduces WebSocket protocol into API-servicing nodes, which helps developers to subscribe to specific events leading to a smoother transition than the previous method of polling scheme.
Zilliqa has also added functionality to its smart contracts to enable multiple message smart contracts for developers to properly execute contracts. This means that the number of transactions required to execute smart contracts is greatly reduced.
Lastly, Zillqa has reduced the time needed for blocks generated ahead of the impending launch of its mainnet. The blockchain platform hinted that they had begun work on perfecting a protocol implemented with the upgrade.
It is expected that the blockchain platform would launch its long-awaited mainnet in the early months of 2020.
Zilliqa Intraday Analysis
Haven added 9.46% to its value in the last 24 hours, a unit of Zilliqa (ZIL) coin trades for $0.004963 at press time according to CoinMarketCap.
The sharding-oriented cryptocurrency designed to enhance scalability is amongst the top gainers, in fact, the third most profitable cryptocurrency among the top ten at press time.
Zilliqa has been on the upside trend since yesterday. Even though there was a slight retracement, the cryptocurrency managed to return on the upside trend as most cryptos gear up for recovery.
Against BTC, ZIL is priced at 0.00000070 BTC with 3.44% added value. Zilliqa is showing signs of bullishness in the market today.
On the upside, if the current run continues, the next resistance level for the coin would be around the $0.0055 mark. On the flip side, a downward trend could see the coin fall back to the $0.0045 support levels.