What is ZIL (Zilliqa)?
ZIL is the native utility token of the Zilliqa blockchain, primarily used to pay for transaction fees, execute smart contracts, and reward network participants. Zilliqa is a Layer-1 public blockchain designed to address scalability issues.
Technical Core and Ecosystem Positioning
Zilliqa's key technical innovation lies in its pioneering implementation of sharding technology in a live network. This technology divides network nodes into multiple groups to process transactions in parallel, significantly increasing transaction throughput. Its smart contract language, Scilla, is designed with a focus on formal verification to reduce the risk of contract vulnerabilities.
Currently, Zilliqa is undergoing a major upgrade to Zilliqa 2.0, which includes transitioning its existing Proof-of-Work (PoW) hybrid consensus mechanism to Proof-of-Stake (PoS), and shifting its ecosystem development focus towards gaming and Web3 entertainment. Recent technical updates include a mainnet upgrade completed in May 2026, which introduced features such as state pruning.
How to Obtain ZIL Tokens?
There are several main ways to obtain ZIL:
Purchase via Trading Platforms
ZIL is listed and traded on multiple mainstream cryptocurrency exchanges. Users can directly purchase ZIL on these platforms using fiat currency or other cryptocurrencies (such as USDT). This is the most direct and common method of acquisition.
Participate in Network Staking (Applicable to Zilliqa 2.0)
As Zilliqa 2.0 transitions to PoS consensus, ZIL holders can stake their tokens to network validator nodes, participate in network maintenance and governance, and earn staking rewards. This will be an important way to obtain ZIL in the future.
Regarding Mining
Before the Zilliqa 2.0 upgrade is completed, the network still uses a Proof-of-Work (PoW) mechanism, and theoretically, ZIL rewards can be obtained through mining. However, as the network fully migrates to PoS, the original PoW mining model will no longer be applicable. Users considering obtaining ZIL through mining should closely monitor official upgrade progress and rule changes.
Market Status and Precautions
The Zilliqa network has faced security challenges during its development, such as a third-party partner wallet hack that led to some exchanges temporarily suspending ZIL deposits and withdrawals. Recently, the project team is fully pushing forward with the Zilliqa 2.0 upgrade and has also experienced management changes.
When acquiring and holding ZIL, users should choose secure and reliable wallets that support ZIL for storage, and always pay attention to official announcements to understand network upgrades, compatibility changes, and the latest support status on various trading platforms.
