Zilliqa, a fast and innovative blockchain that aims to offer scalable solutions, and able to operate both off-chain and using sidechains for the management of dApps, takes a step back.
The original plan foresaw the launch of the mainnet, i.e. the software capable of homogeneously managing the blockchain and the smart contracts, next autumn, but the team announces the decision to delay the launch until January 2019, postponing also the relative token swap.
The reasons given are important, such as:
- Have time to do a severe and thorough audit;
- Properly prepare the swap token from ERC20 to the proprietary blockchain;
- Prepare an adequate integration in the wallets;
- Develop tools for chain management;
- Integrate more dApps.
An important feature of Zilliqa is the ability to process smart contracts using sidechains, thus lightening the data processed on-chain.
Zilliqa’s contracts are based on the Scilla programming language, able to support any type of contract.
The Zilliqa cryptocurrency was affected by the announcement and obviously by the recent bearish trend.
Just a week ago it capitalized more than $500 million but, following a negative market trend that reduced its value by 38% in a week from $0.07 to just over $0.05, it saw its capitalization fall to $390 million.
A serious fall in value, considering that less than three months ago the token was worth $ 0.22 so we had an overall depreciation of 76%.
Postponing the token swap and launching the mainnet will delay investors’ chances of covering their losses.