With the launch of the mainnet just around the corner, the team at Zilliqa has announced some key updates to their network.
According to their official website, Zilliqa is a secure and scalable Blockchain platform that hosts decentralized applications.
Zilliqa’s mainnet launch date is decided for January 31st, 2019. Amidst the preparation for the launch of the Blockchain platform, Zilliqa’s team, which has been hard at work to ensure the security of the network, has updated the crypto community with some significant upgrades to the network.
For the purpose of security, the team has hired many security auditors such as Cure53, NCC Group, Beijing Zhenyuan Cybersecurity Co. Ltd, and Kudelski Group. They will run several rounds of security audits.
The security auditing process follows the already-in-place bug bounty program. The program was launched in November 2018. Thereafter the program is set to be launched on the Bugcrowd platform in February.
The team has also been working actively to refine the platform’s reward mechanism. This is being done after evaluating the feedback from miners. Efforts are being made towards the incentivization of new nodes in order to encourage them to join the network.
A new upgrade that is highlighted by the Zilliqa team includes the bootstrapping of the soon to be launched mainnet. It is being done to prevent attacks at times when the hash power is low.
The bootstrapping process will allow the provision of rewards to miners even when no transactions are processed. It will let the mainnet buy enough time to rev up the number of blocks or/and the number of blocks.
After the successful launch of the mainnet on January 31, 2019, the first quarter of the year will be dedicated for the exchange of the existing ERC20 Tokens to the Zilliqa Mainnet tokens.
In their announcement, the Zilliqa team has stated that the community members should be ready for the volatility in the price of Zilliqa prior to the launch of the mainnet. The team has said that it is a common trend that recurs before such launches.
Well, let’s get ready for the Zilliqa’s launch! If you want to read more about this Blockchain platform, then head over to read our article titled A Beginner’s Guide to Zilliqa.