ZIL is the internal token of the Zilliqa ecosystem. It is mined by mining, received for executing contracts and commissions for transactions. ZIL has faster throughput than top cryptocurrencies, so it has no system evolution and scalability issues. You can exchange USD to zil on cryptocurrency exchanges.
What is Zilliqa?
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The Zilliqa project was created at the National University of Singapore by a group of scientists, entrepreneurs, and engineers. The used technology backed by peer-reviewed scientific research. Since the blockchain was launched in January 2019, Zilliqa has become the first public blockchain to implement sharding. This means the network is ready for rapid growth thanks to its ability to scale.
Scalability is the ability of a cryptocurrency to process a large number of transactions without slowing down. Scalable cryptocurrencies hope to be able to process as many transactions as companies like Visa and Mastercard.
Zilliqa’s quick and developed blockchain lets creators operate Smart Contracts operating a new language called Scilla. Over 60 project groups from over 20 countries have donated to the Zilliqa ecosystem by designing wallets and developer instruments, smart testing frameworks contracts, decentralized apps, and more.
How to buy cryptocurrency
You can use a variety of methods to swap fiat for cryptocurrency. For example, to exchange USD to xvg and vice versa, you can go to the exchange, exchanger, or p2p platform. You can also trade currency in a cryptomat.
Why are exchanges good?
Most often, on such resources, the swap is carried out through conversion or by creating orders. The set of currencies on such sites is usually extensive. For translations, the site takes commission fees from users. Each service will have its own percentage of such fees.
Exchanges are recommended for use by users with relative experience with cryptocurrencies. For users who do not want to spend time registering, choosing exchanger sites for work is better.
Advantages of online exchangers
Cryptocurrency network exchange offices most often do not require mandatory registration. Although some of them exist, the functionality will be available only after authorization.
To swap currency on this site, you need to follow the following instructions:
- open the desired site;
- choose the right exchange options;
- click the “Exchange” button.
The most important thing, in this case, is to check the selected operation parameters several times.
The transaction usually takes very little time – no more than 15 minutes. If too many minutes have passed, and the money has not been credited to the account, then you should contact the site support service.
This method of exchanging electronic money is not available to everyone. Their appearance is very similar to conventional ATMs. But they can only perform operations with cryptocurrency.
The main disadvantage of this method is its inaccessibility and high commission fee.