Max Kantelia, co-founder of the Zilliqa revealing the recent development of the project, about DeFi and more

By Selena On Jun 1, 2020

In an interview with Cryptonomist, Max Kantelia, co-founder of blockchain Zilliqa, shared a lot about the recent development of the project, especially DeFi and more.

2020 is an exciting year for Zilliqa

Asked about some of the recent partnerships Zilliqa has made, Max said:

“If you noticed, towards the end of 2019, we placed a great deal of emphasis on building up infrastructural enhancements to better equip the network for enterprise-grade use. We embarked on partnerships with Elliptic, a blockchain forensics firm that actively works with financial institutions and law enforcement to provide actionable insights to monitor platforms for illicit activity, as well as with ChainSecurity, a blockchain security company that identifies security vulnerabilities and verifies the functional correctness of smart contracts, blockchain platforms, and protocols.”

Max Kantelia, co-founder of blockchain Zilliqa

These partnerships have helped Zilliqa enhance security while maintaining top compliance. In 2020, the project continues to work with Incognito to bring pZIL to more people. Most recently, Zilliqa partnered with Singapore-homegrown decentralized exchange Switcheo to work on developing Zilliqa DEX.

Moreover, Zilliqa is also developing Staking, and Max has also shared a lot about this.

He said:

“In April, we announced that the staking smart contract code for the network was now live on our testnet. We fully open-sourced the code and began inviting bug hunters to vet the code for any security flaws. To bolster this, we’ve also added the code to Bugcrowd’s crowdsourced Bug Bounty Programmes to invite more security researchers and cybersecurity experts outside our immediate community to examine the code.”

And then, he added:

“Based on predetermined requirements such as a ZIL 10,000,000 deposit to operate a seed node, we will begin onboarding operators to the testnet this quarter. Following additional testing, we’ll be officially launching staked seed nodes on the mainnet by the end of Q2 2020.”

Zilliqa’s vision when it comes to building out the ecosystem

Over the past three years, Zilliqa seems to have grown, moving from decentralized applications to more financially focused use cases.

Since Zilliqa was founded, the project’s vision has continuously become a blockchain for businesses and applications that need a robust decentralized network to support use cases with real-world impact. Over the past three years, they have built a steady pool of use cases, spanning everything from gaming to digital advertising.

He said:

“There are no limitations to what can be built on the Zilliqa platform, and we encourage experimentation and creativity among our growing developer community. For one, through programmes such as ZILive Grants, we’ve been able to help talented teams and developers realize their applications on the network.”

With Zilliqa DEX recently announced and the ongoing partnership with Xifts for XSGD stablecoin, DeFi seems to be a focus area of the group. So do you ever wonder what else Zilliqa is doing in this area?

While Zilliqa is indeed strengthening its position in the DeFi ecosystem, it also needs to focus on use cases and partnerships with real-world impact. The focus of the project is to continue building an open, interoperable financial network to support next-generation fintech solutions across Southeast Asia.

He said:

“We believe that there’s important to look outside of the immediate blockchain industry to realize the technology’s potential fully. Our focus is to continue building out an open, interoperable financial network to support next-generation fintech solutions across the Southeast Asian region.”

After three years of establishment, what are the achievements of the project?

Zilliqa is a project worth mentioning because the growth rate is outstanding. Almost no other projects are progressing at the same pace. Moreover, the project development team is very hard-working and dedicated to building applications on the platform.

Looking ahead, with Zilliqa, what can we expect next year?

He stated:

“There will certainly be more exciting announcements to come — both big and small — whether it be for our community in the form of updates on our ZILHive grants program or developments on staking or the Zilliqa DEX.”

For the rest of the year, the project’s goal is to create a modular network built on open source principles to improve the interoperability of asset and payment management applications.

He concluded:

“No longer an arena only open to fintech startups, we hope that by bringing blockchain to the mix, we can impart the spirit of decentralization and equal access to emerging markets that are accelerating their digital transformation aspirations.”

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