Reputation & Identity Management United States
As the number of miners in ZILLIQA increases, its transaction rates are expected to increase as well. Specifically, ZILLIQA’s design allows its transaction rates to roughly double with every few hundred nodes added to its network. As of this writing, the Ethereum mining network is over 30,000 nodes. At Ethereum’s present capacity, ZILLIQA would expect to process about a thousand times the transaction rates of Ethereum. ZILLIQA is a redesign from scratch and has been under research and development for over 2 years. The cornerstone in ZILLIQA’s design is the idea of sharding — dividing the mining network into smaller consensus groups called shards each capable of processing transactions in parallel. If the mining network of ZILLIQA is say 8000 miners, ZILLIQA automatically creates 10 sub-networks each of size 800 miners, in a decentralized manner without a trusted co-ordinator. Now, if one sub-network can agree on a set of (say) 100 transactions in one time epoch, then 10 sub-networks can agree on a total of 1000 transactions in aggregate. The key to aggregating securely is to ensure that sub-networks process different transactions (with no overlaps) without double-spending.