Zilliqa Unveils v9.3.0 Release, Revolutionizing Blockchain with Enhanced EVM and Sharding Features

Author : Elisabeth Louise | Published On : 09 Jan 2024

Zilliqa's latest version, v9.3.0, has brought significant advancements to its blockchain technology. Launched on January 3, 2024, this update is a crucial step toward Zilliqa 2.0, showcasing improvements in efficiency, reliability, and functionality.

One key feature of this update is the introduction of a new sharding architecture to optimize network performance. Before full integration, the network will temporarily operate without shards, streamlining block time and improving overall throughput.

Active reward control, another notable addition, was approved through a majority vote by gZIL holders on Zilliqa’s decentralized governance platform. This system aims to balance inflation with performance enhancements, providing competitive returns to miners and stakers. Rewards will be periodically adjusted based on network and governance decisions for stability.

Zilliqa v9.3.0 also enhances Ethereum Virtual Machine (EVM) compatibility, extending support to Type 1 and Type 2 EVM transactions. This broadens the network's interoperability and developer access, enabling a more diverse range of applications. The upgrade includes improved error reflection in transaction receipts for Scilla contracts called through EVM applications, along with other critical enhancements and bug fixes.

Efficiency improvements are integral to this update, including refined CODEHASH operations for better contract processing performance and optimized mining efficiency through header hash parameters. These enhancements contribute to Zilliqa's commitment to improving network performance and reliability as it progresses toward Zilliqa 2.0.

A strategic move involves migrating Zilliqa's operational infrastructure to the Google Cloud Platform (GCP), following a strategic alliance formed last year. This transition aims to significantly improve infrastructure and API efficiency while minimizing downtime during future network upgrades.

As of now, Zilliqa (ZIL) is trading at $0.02113, with a 24-hour volume of $38,109,780. The cryptocurrency has experienced a 6.02% downturn in the last day, holding the 132nd position on CoinMarketCap with a market capitalization of $365,914,205. Despite recent bearish trends, ZIL's advancements in v9.3.0 position it as a blockchain poised for a more robust, efficient, and user-friendly experience, aligning with its commitment to drive innovation in the blockchain space.