Can Ziliqa's console start the hype on the network?

With all the frenzy that we experienced around the play-to-earn games, many questions have hit the gaming industry.

Some players wondered if there was still a future for traditional games... Yes, why continue to play games (which are expensive) and continue to lose money? Why do it if another business model is possible?

However, the big obstacle was the quality of the games presented. THE play to earn games are until now of lower quality, not to say mediocre, if we compare them to classic video games.

Worse still, the business model of many games is very close to pyramid schemes and even Ponzi schemes sometimes... This is what many critics have said about the game Axie Infinity... Basically, for the token to increase in value, new players must constantly enter. This required growth in the number of players (and buyers) makes the games obsolete after a certain time. For what? Quite simply, because growth cannot (or with difficulty) last forever…

Crypto projects like Zilliqa want to change the situation. The blockchain does not hide its ambition which is to boost the entire gaming sector as a whole. Better yet: Zilliqa is currently building its own console to bring together the best of video games with the world of cryptocurrencies…

Vast project? Crazy project that can breathe new life into ZIL crypto? This is what we will try to see here.

Earn cryptocurrencies while playing on a console?

Zilliqa has existed since 2018 but the project has never had much "notoriety" until recently, by announcing its project. Creating the first Web3 console will therefore be done thanks to Zilliqa. The idea is rather ambitious because Zilliqa plans to compete with the console that needs no introduction: Sony's PlayStation. Just that.

What the company is hoping for is two things according to the article published in the newspaper decrypt, who first relayed the information.

First, Zilliqa wants to appeal to crypto holders and particularly those who already play play-to-earn games. It is therefore naturally the first target.

Second, Zilliqa also wants to convert seasoned gamers who are not interested in crypto games. Ziliqa wants to boost the world of video games by incorporating the "blockchain". Play-to-earn games can be easily downloaded (on a site equivalent to Steam) and the player will own his web3 wallet. He will then be able to store his NFTs and tokens to play games more easily.

This is currently what Zilliqa has indicated on its website. We don't know anymore...

Is this too ambitious a project or simply the beginning of the future of gaming?

For the moment, we do not know the future technical characteristics of the console. Will we really be able to mine cryptocurrencies at the same time? Or will we only be able to play adapted games?

Wanting to compete with the PlayStation is not nothing... It's even crazy when you know the history of the play which has existed for more than two decades.

What we know is that Playstation is also interested in blockchain. This competition, not to say competitiveness, could perhaps change things….In any case, we hope.

What is Zilliqa (ZIL)?

Zilliqa is a public blockchain that has sought from the start to be valid and efficient with large transaction volumes. Zilliqa was launched in 2017 but the mainnet was implemented in March 2018. Blockahin wants to allow the creation and hosting of multiple decentralized applications. Since 2020, holders can also stake and Yield farming.

The network's native token is the ZIL cryptocurrency. It is then used for all network transactions and the execution of smart contracts.

Founders was conceived by Prateek Saxena, a PhD student in Computer Science at the National University of Singapore. He was part of a group of students in 2016 who researched to create a faster and more powerful blockchain. In fact, the Zilliqa team has implemented “Scilla” which is a functional programming language to create smart contracts on the blockchain. In 2016, research in this area was still in its infancy.

Is Zilliqa a promising project?

For an "old" project, dating back to 2017, we can say that its promises have not lived up to their ambition... The competition has been so tough in recent years with the emergence of blockchains, each more powerful than the last. It is mainly the projects with the most elaborate marketing that have been able to make a place for themselves.

It seems that Zilliqa suffered at this level. Few people know about Zilliqa and few invested in ZIL during the last bull run. Few developers work on it..There are few big dApps, etc.

That said, projects that take time ultimately have better market experience. We have seen so many projects go up quickly but come down just as quickly ( ICP token, hmm). What we mean is that it may not be too late for the network. And, perhaps even the console and its specificity in video games could be the great turning point for the network.

–>Learn more on the official website Zilliqa.

What are the tokenomics of ZIL?

Zilliqa has a total supply of 21 billion tokens. The network is designed in such a way that all tokens will be mined within 10 years. The block mining reward slowly decreases every year. According to its whitepaper, the project aims to mine 80% of tokens (16,8 billion ZIL) in the first four years and 20% (4,2 billion ZIL) in the remaining six years.

Should you buy ZIL?

No one can tell you with any guarantee whether or not to buy cryptocurrency. It's up to you to make a fundamental analysis, to read the tokenomics and to do DYER to put it more simply. It is also very important to check the date you want to enter. Some periods are more favorable than others.

For those who want to buy ZIL, it is possible to buy it on most exchange platforms like Kucoin or bybit for example.

Buy Zil on Bybit

Can we stake ZIL?

For people who want to generate interest on the ZIL token, then nothing could be simpler. Simply use a compatible wallet of your choice. Here you have the list of wallets that allow you to stake ZIL. You have the choice among ZilPay or, AtomicWallet for those who already use it.

We use the non-custodial wallet (you keep your private keys) Moonlet. It's an excellent app for staking on ZILIQA, but also other networks like Solana or Near for example. It can also be connected to a Ledger, which is even more practical. You should know that commission fees are 5% on Moonlet.

Currently staking is at 14% APR for ZIL crypto.

Download the Moonlet app

Note: There is no financial advice in this or any other article on this site. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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