The team at Zilliqa (ZIL) recently announced that there will be a delay in the launch of the Mainnet. They said that the Mainnet will not be launched until January next year. The team delayed the launch in order to have more time to carry out security audits, develop its toolchains, and to take care of other aspects of the project.
While this announcement may not seem to be a good one for some speculators that were hoping to cash-in on the launch, it’s actually a great thing for Zilliqa (ZIL) long-term investors.
Reasons Why the Delay Is a Great Thing
Firstly, the delay of the Mainnet launch means that the blockchain project now has more time to finalize the project. With enough time to make everything perfect, they will be able to release a well-put working product that will get the attention of decentralized app developers, increasing the value of the project in the long run.
This is far better than releasing a half-baked project that will not fulfill the purpose it was built for. Such issues would result in a drastic decline in the value of the digital currency.
Secondly, the delay shows that the team at Zilliqa (ZIL) is working on something spectacular. The blockchain project intends to provide a way of achieving infinite scalability by implementing Sharding. Nevertheless, Sharding isn’t easy to implement, since they need to put a lot of things into consideration, such as security.
The delay of the Mainnet launch is also a good thing because if it were to launch under the present condition of the crypto market, it wouldn’t have had much effect on the value of the digital currency. This is because the digital currency market is still under the influence of the bears, and good news at this period does not have much effect on the values of digital currencies.
Zilliqa (ZIL) Price Today – ZIL / USD
At the time of writing, ZIL is trading at $0.04049 after a decrease of more than 10 percent over the past twenty-four hours. The market cap of the digital currency is $306.39 million and its trading volume over the past twenty-four hours is $16.55 million.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.