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Zilliqa

Zilliqa is present on the following networks: binance_smart_chain, zilliqa. Binance Smart Chain (BSC) uses a hybrid consensus mechanism called Proof of Staked Authority (PoSA), which combines elements of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). This method ensures fast block times and low fees while maintaining a level of decentralization and security. Core Components 1. Validators (so-called “Cabinet Members”): Validators on BSC are responsible for producing new blocks, validating transactions, and maintaining the network’s security. To become a validator, an entity must stake a significant amount of BNB (Binance Coin). Validators are selected through staking and voting by token holders. There are 21 active validators at any given time, rotating to ensure decentralization and security. 2. Delegators: Token holders who do not wish to run validator nodes can delegate their BNB tokens to validators. This delegation helps validators increase their stake and improves their chances of being selected to produce blocks. Delegators earn a share of the rewards that validators receive, incentivizing broad participation in network security. 3. Candidates: Candidates are nodes that have staked the required amount of BNB and are in the pool waiting to become validators. They are essentially potential validators who are not currently active but can be elected to the validator set through community voting. Candidates play a crucial role in ensuring there is always a sufficient pool of nodes ready to take on validation tasks, thus maintaining network resilience and decentralization. Consensus Process 4. Validator Selection: Validators are chosen based on the amount of BNB staked and votes received from delegators. The more BNB staked and votes received, the higher the chance of being selected to validate transactions and produce new blocks. The selection process involves both the current validators and the pool of candidates, ensuring a dynamic and secure rotation of nodes. 5. Block Production: The selected validators take turns producing blocks in a PoA-like manner, ensuring that blocks are generated quickly and efficiently. Validators validate transactions, add them to new blocks, and broadcast these blocks to the network. 6. Transaction Finality: BSC achieves fast block times of around 3 seconds and quick transaction finality. This is achieved through the efficient PoSA mechanism that allows validators to rapidly reach consensus. Security and Economic Incentives 7. Staking: Validators are required to stake a substantial amount of BNB, which acts as collateral to ensure their honest behavior. This staked amount can be slashed if validators act maliciously. Staking incentivizes validators to act in the network's best interest to avoid losing their staked BNB. 8. Delegation and Rewards: Delegators earn rewards proportional to their stake in validators. This incentivizes them to choose reliable validators and participate in the network’s security. Validators and delegators share transaction fees as rewards, which provides continuous economic incentives to maintain network security and performance. 9. Transaction Fees: BSC employs low transaction fees, paid in BNB, making it cost-effective for users. These fees are collected by validators as part of their rewards, further incentivizing them to validate transactions accurately and efficiently. The Zilliqa blockchain uses a hybrid consensus mechanism that combines Practical Byzantine Fault Tolerance (pBFT) and Proof of Work (PoW) to ensure high throughput, scalability, and security. The main components of Zilliqa's consensus mechanism include the following: Key Features of Zilliqa's Consensus Mechanism: 1. Sharding: Zilliqa achieves scalability through sharding, where the network is divided into smaller units called shards. Each shard processes its own set of transactions and smart contracts in parallel, allowing the network to handle a higher volume of transactions. 2. Proof of Work (PoW): The PoW mechanism is used for consensus initiation. It is primarily used to secure the network and assign nodes to shards. PoW miners solve computational puzzles to participate in block generation. However, PoW is only used for a short time at the beginning of the consensus process, and the workload is much lower than in traditional PoW systems like Bitcoin. The PoW mechanism ensures that only nodes with sufficient computational power are selected to participate in the network, reducing the likelihood of Sybil attacks. 3. Practical Byzantine Fault Tolerance (pBFT): Once the PoW phase is complete and nodes are assigned to shards, pBFT is used to reach consensus within each shard. This is a more energy-efficient consensus algorithm than traditional PoW because it doesn't require miners to perform extensive computations after the initial selection. pBFT ensures finality of blocks and ensures that even if some nodes behave maliciously or fail, the network can still reach an agreement and process transactions correctly. pBFT works by having validators from the shard participate in a consensus process to agree on the state of the blockchain. Validators propose blocks, vote on block validity, and ensure that a consensus is reached before blocks are finalized. 4. High Throughput and Low Latency: Combining sharding with the use of PoW and pBFT allows Zilliqa to achieve high throughput and low latency. By processing transactions in parallel across multiple shards, the network can handle thousands of transactions per second, significantly improving scalability compared to traditional blockchain systems.

Zilliqa is present on the following networks: binance_smart_chain, zilliqa. Binance Smart Chain (BSC) uses the Proof of Staked Authority (PoSA) consensus mechanism to ensure network security and incentivize participation from validators and delegators. Incentive Mechanisms 1. Validators: Staking Rewards: Validators must stake a significant amount of BNB to participate in the consensus process. They earn rewards in the form of transaction fees and block rewards. Selection Process: Validators are selected based on the amount of BNB staked and the votes received from delegators. The more BNB staked and votes received, the higher the chances of being selected to validate transactions and produce new blocks. 2. Delegators: Delegated Staking: Token holders can delegate their BNB to validators. This delegation increases the validator's total stake and improves their chances of being selected to produce blocks. Shared Rewards: Delegators earn a portion of the rewards that validators receive. This incentivizes token holders to participate in the network’s security and decentralization by choosing reliable validators. 3. Candidates: Pool of Potential Validators: Candidates are nodes that have staked the required amount of BNB and are waiting to become active validators. They ensure that there is always a sufficient pool of nodes ready to take on validation tasks, maintaining network resilience. 4. Economic Security: Slashing: Validators can be penalized for malicious behavior or failure to perform their duties. Penalties include slashing a portion of their staked tokens, ensuring that validators act in the best interest of the network. Opportunity Cost: Staking requires validators and delegators to lock up their BNB tokens, providing an economic incentive to act honestly to avoid losing their staked assets. Fees on the Binance Smart Chain 5. Transaction Fees: Low Fees: BSC is known for its low transaction fees compared to other blockchain networks. These fees are paid in BNB and are essential for maintaining network operations and compensating validators. Dynamic Fee Structure: Transaction fees can vary based on network congestion and the complexity of the transactions. However, BSC ensures that fees remain significantly lower than those on the Ethereum mainnet. 6. Block Rewards: Incentivizing Validators: Validators earn block rewards in addition to transaction fees. These rewards are distributed to validators for their role in maintaining the network and processing transactions. 7. Cross-Chain Fees: Interoperability Costs: BSC supports cross-chain compatibility, allowing assets to be transferred between Binance Chain and Binance Smart Chain. These cross-chain operations incur minimal fees, facilitating seamless asset transfers and improving user experience. 8. Smart Contract Fees: Deployment and Execution Costs: Deploying and interacting with smart contracts on BSC involves paying fees based on the computational resources required. These fees are also paid in BNB and are designed to be cost-effective, encouraging developers to build on the BSC platform. The Zilliqa blockchain incentivizes network participants, including miners, validators, and developers, through block rewards, transaction fees, and staking rewards, while its fee model ensures the smooth operation of the network and the maintenance of its scalability and security. Incentive Mechanism: 1. Mining Rewards (PoW Phase): Block Rewards: Miners who perform the Proof of Work (PoW) for the initial consensus phase are rewarded with ZIL tokens for successfully mining a block. This PoW phase is used to assign nodes to different shards. Transaction Fees: In addition to block rewards, miners also receive transaction fees for including transactions in the blocks they mine. These fees incentivize miners to prioritize transactions during high demand. 2. Staking Rewards: Validators in Shards: After the PoW phase, validators in each shard participate in the consensus process using Practical Byzantine Fault Tolerance (pBFT). Validators who propose or confirm blocks in the pBFT phase earn ZIL tokens as rewards for their participation in securing the network and validating transactions. Sharding Rewards: Zilliqa rewards validators in each shard based on their contributions to block finalization and their participation in the consensus mechanism. 3. Transaction Fees (Validators and Miners): Transaction Fee Distribution: Transaction fees are paid by users to have their transactions processed on the Zilliqa network. These fees are collected by the validators who propose the blocks or the miners who participate in the PoW phase. Prioritization of Fees: During periods of high network activity, users may need to increase their transaction fees to ensure quicker transaction inclusion. Validators prioritize higher fees to ensure transaction processing. 4. Incentives for Developers: Smart Contract Deployment: Developers who deploy and maintain smart contracts on the Zilliqa network can also be incentivized through transaction fees generated by the usage of their smart contracts. The more transactions a smart contract processes, the more rewards the contract owner can earn. Applicable Fees: 1. Transaction Fees: Fee Calculation: Transaction fees on Zilliqa are determined based on the size and complexity of the transaction. The fee is typically paid in ZIL tokens, which can fluctuate depending on network demand and transaction complexity. Fee Rate: The fee rate adjusts based on network congestion, meaning that higher transaction fees are necessary for quicker processing during periods of high demand. Zilliqa offers tools for users to estimate the proper transaction fee based on current network conditions. 2. Smart Contract Execution Fees: Execution Costs: For transactions involving smart contracts, fees are calculated based on the computational resources required to execute the contract. These fees are also paid in ZIL tokens and vary depending on the complexity of the contract's execution. 3. Sharding Fees: Fee to Participate in Shards: Since Zilliqa uses sharding, users may incur additional fees for interacting with specific shards. These fees help maintain the infrastructure for the parallel processing of transactions across the shards. 4. Storage Fees: Storage of Data: Developers and users who store data on the blockchain, such as smart contracts or tokens, are required to pay storage fees. This helps prevent spam attacks and ensures efficient use of network resources. These fees are typically paid in ZIL tokens.

2024-03-31

2025-03-31

157685.77325 (kWh/a)

The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called “bottom-up” approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. To determine the energy consumption of a token, the energy consumption of the network(s) zilliqa, binance_smart_chain is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.