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word number: 401
Time: 2022-05-20 14:38:31 +0000
Zilliqa started its road to be the first smart contract platform to implement Sharding protocol in 2017 which is a method for processing transactions in parallel. It is one of the ways to increase scalability, meaning providing faster and cheaper transactions. It successfully launched in 2019 and entered the decentralized finance (DeFi) space in early 2021 alongside other Ethereum alternative DeFi chains. However, how user friendly is Zilliqa DeFi ecosystem today? Let us take a look.
Since Zilliqa’s DeFi ecosystem is not Ethereum Virtual Machine compatible, Metamask cannot be used. Zilliqa have its own browser extension Zilpay and Zillet which are also available on mobile. Although, I prefer using Math Wallet on mobile because of multiple chains in one wallet.
Many DeFi ecosystems decided to run a separate smart chain for their DeFi but no need to worry about that on Zilliqa. The network that we used for transactions in early Zilliqa, the network used for staking, and the DeFi network are one network. As long as the exchange supports Zilliqa, we can deposit and withdraw easily. Binance and Kucoin definitely supports Zilliqa and another one is crypto.com exchange. One of my local exchange Tokocrypto also supports direct deposit and withdrawal.
For now, I only found one application to track our Zilliqa assets called Zilstream. Unfortunately it does not generate a hyperlink to share portfolio to others. If we want to share our portfolio, we must use the limited Viewblock Zilliqa blockchain explorer. Another one is Zil Watch but same thing that cannot share portfolio.
Zilstream and Zil Watch are also information collection of Zilliqa assets like Coingecko or Coinmarket Cap specifically for Zilliqa. After choosing an asset, we can switch to trading view and draw technical analysis on its price chart. Most AMM DEXs like Zilswap also provides candle charts but most not yet trading view.