Cryptocurrency has become a popular method of payment in recent years, with more and more businesses accepting it as a form of payment. Zilliqa, a high-throughput blockchain platform, has been making strides to make ZIL payments accessible to all. In this article, we will explore how Zilliqa is bringing EVM compatibility to its mainnet, what this means for crypto payments, and the benefits of accepting ZIL payments.
Introduction to Zilliqa
Zilliqa is a blockchain platform that is focused on solving the scalability issue that many other blockchain platforms face. It was founded in 2017 by a team of academics and researchers from the National University of Singapore. Zilliqa uses sharding to increase its throughput, which allows it to process thousands of transactions per second. This makes it one of the fastest blockchain platforms in the world.
Zilliqa also has its cryptocurrency, ZIL, which is used to pay for transactions on the platform. ZIL has a fixed supply of 21 billion, and it is used to incentivize nodes to process transactions on the network. With its high throughput and fast transaction times, Zilliqa is an excellent platform for businesses that want to accept cryptocurrency payments.
Zilliqa Bringing EVM Compatibility to Mainnet
Zilliqa has been making significant changes to its platform, and one of the most exciting is the addition of EVM compatibility to its mainnet. This allows developers to deploy smart contracts written in Solidity directly on the Zilliqa blockchain. The implementation is set to go live on April 25, 2023.
The benefits of EVM compatibility are numerous. For one, it will enable developers to leverage the benefits of Zilliqa’s high throughput and low fees. This is particularly important for developers building decentralized applications (dApps) that require fast and cheap transactions. Additionally, EVM compatibility will enable the creation of more complex applications by combining the strengths of both smart contract standards.
Another exciting development for Zilliqa is the upcoming interoperability between Scilla and Solidity smart contract standards. This will make it possible to natively transfer NFTs and fungible tokens between EVM and Scilla interfaces. This will provide even more flexibility for developers building on the Zilliqa blockchain.
What is EVM?
The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a virtual machine that runs on the Ethereum network, and it allows developers to create decentralized applications (dApps) using Solidity. The EVM is responsible for executing smart contracts, and it ensures that they are run in a secure and decentralized manner.
What does bringing EVM to Zilliqa mean?
Zilliqa’s advancements in EVM compatibility have opened up new possibilities for blockchain developers. Integration with NOWPayments API allows developers to seamlessly integrate Zilliqa into their projects while leveraging the vast Ethereum ecosystem.
This integration means that developers can now use the NOWPayments API to accept ZIL payments, making transactions smoother and more efficient. The benefits of this integration are not limited to developers alone. The increased exposure to Zilliqa’s blockchain platform will lead to more widespread adoption of ZIL as a means of payment.
Zilliqa EVM and Crypto Payments
The addition of EVM compatibility to Zilliqa has significant implications for crypto payments. With the ability to create smart contracts on Zilliqa using Solidity, businesses can now easily integrate ZIL payments into their platforms. This means that businesses can accept ZIL payments for goods and services, just like they would with any other form of payment. With NOWPayments’ efficient payment experience, merchants seeking to accept ZIL payments can do so with ease.
Overall, the Zilliqa ecosystem is making significant strides toward providing a more robust and versatile blockchain platform. With EVM compatibility and interoperability on the horizon, the future looks bright for Zilliqa and its community.
Benefits of EVM Zilliqa for those who accept crypto as a payment
One of the most significant benefits of using EVM Zilliqa for crypto payments is the speed of transactions. Zilliqa’s high throughput means that transactions can be processed quickly and efficiently, which is essential for businesses that want to provide their customers with a seamless payment experience. Additionally, ZIL payments are secure and decentralized, which means that businesses don’t have to worry about fraud or chargebacks.
Another benefit of using EVM Zilliqa for crypto payments is the low transaction fees. Because Zilliqa is a high-throughput blockchain, the transaction fees are much lower than other blockchain platforms. This makes it an attractive option for businesses that want to save on transaction fees.
Zilliqa Ecosystem projects that can benefit from ZIL payments
Zilliqa has a robust ecosystem of projects that can benefit from ZIL payments. Zilliqa is a high-speed blockchain platform that is known for its scalability and security. It has become a popular choice for NFT and gaming projects due to its fast transaction processing and low fees. Here are some of the Zilliqa ecosystem projects related to NFT and gaming that can benefit from ZIL payments:
Mintable
Mintable is a platform that allows creators to easily create, sell, and manage their NFTs. It provides a user-friendly interface that makes it easy for anyone to get started with NFTs. With ZIL payments, Mintable can offer faster and cheaper transactions, which will make it more attractive to users.
ChainGuardian
ChainGuardian is an NFT-based game that allows players to collect, trade, and battle with their heroes. It combines blockchain technology with traditional gaming mechanics to create a unique gaming experience. With ZIL payments, ChainGuardian can offer seamless in-game purchases and faster transactions.
Bolt Protocol
Bolt Protocol is a decentralized exchange that allows users to trade their NFTs without relying on a centralized intermediary. It uses an automated market maker algorithm to determine the price of NFTs, which ensures that users get a fair price for their assets. With ZIL payments, Bolt Protocol can offer faster and cheaper transactions, which will make it more attractive to users.
All of these projects can benefit from ZIL payments, as it will enable them to offer faster and cheaper transactions to their users. To facilitate these transactions, they can use payment tools provided by NOWPayments, a global cryptocurrency payment provider. With NOWPayments, these projects can easily integrate ZIL payments into their platforms, which will make it easier for users to buy and sell NFTs and participate in gaming activities.
How to Accept Payments in Zilliqa via NOWPayments?
NOWPayments is a cryptocurrency payment gateway that allows businesses to accept ZIL payments easily. With NOWPayments, businesses can integrate ZIL payments into their platforms quickly and securely.
The process is simple:
- Enter your public ZIL crypto address.
- Press “Create API key”
- Once you have your API key, you can pick the API integration of your choice.
- You also can explore the detailed API documentation here to learn more about NOWPayments’ API features.
Conclusion
Zilliqa’s addition of EVM compatibility to its mainnet is a significant step forward for the platform. It opens up the platform to a whole new audience of developers who are already familiar with Solidity and Ethereum. Additionally, it has significant implications for crypto payments, as businesses can now easily integrate ZIL payments into their platforms. With the help of NOWPayments, businesses can accept ZIL payments quickly and securely, and take advantage of the low transaction fees and fast transaction times that Zilliqa offers.