Zilliqa (ZIL), the first shared blockchain with smart contracts, has resumed operations after a mandatory hiatus. While the team was briefing about this problem, the founder of the altcoin spoke highly of Ethereum (ETH).
As Zilliqa Turns Five, Founder Amrit Kumar Makes a Statement
Zilliqa founder Amrit Kumar (who left his post at Zilliqa (ZIL) on May 29) talked about the “secret formula” of Ethereum (ETH) and other successful blockchains. He stated that Ethereum (ETH) has always advocated an innovative long-term vision rather than copying others' instant success strategies:
“Continuous innovation has kept Ethereum alive for all these years despite all the problems. Most, if not all, other L1s stopped innovating soon after their release and instead began to emulate short-term success strategies. Bitcoin is like other L1s. It cannot and should not be."
Discontinued Zilliqa (ZIL) Altcoin Mainnet Restarted
According to the official statement shared on the main Zilliqa (ZIL) website, the mainnet has been restarted after a crash. In an official report, the team shared the root cause of the problems. According to the disclosure, one of the built-in function calls (ecdsa_recover_pk) of Zilliqa's programming language Scilla was not handled correctly by the integrated OCaml secp256k1 library. This prevented Zilliqa's (ZIL) mainnet blocks from being added to the Blockchain. Therefore, the team had to update the binaries running on Zilliqa (ZIL) miners. On July 30, 2022, the recovery update was completed.
It should be noted that Zilliqa (ZIL) managed to reboot the network on its fifth anniversary. Zilliqa (ZIL) went live on the mainnet on July 31, 2017. Currently, Zilliqa (ZIL) node operators are updating their software to ensure blocks are added correctly. Therefore, some stakers may experience delays in receiving rewards for their participation.
The price of Zilliqa (ZIL) at the time of writing is $0.0427 according to CoinGecko data.