Xfers from Singapore is going to use blockchain Zilliqa

You may know Zilliqa from the coin of the same name, but it is also a public blockchain platform. The Business Times reports that Zilliqa is entering into a partnership with Xfers to investigate what they can do for Southeast Asia.

Make payments more efficient and transparent

Zilliqa is not the first to call for the use of blockchain technology for faster payments. Many startups work together with large banks and financial institutions to make the financial market more transparent and safer.

The collaboration with Xfers fits in well with this trend. Xfers is a payment platform and it is up to Zilliqa to make the platform more transparent, safer and cheaper through blockchain.

Smart contracts

Since the launch of the Zilliqa mainnet in January 2019, the focus has been on integrating smart contracts using a native smart language called Scilla. Scilla went live on 9 June and Xfers is one of the first parties to implement this in a use case.

Better than Ethereum?

There are several block chains that offer the possibility of smart contracts, the best known is that of Ethereum. The big difference is that Zilliqa did not choose to use state sharding. Instead, Zilliqa chose to sharpen transactions. This should ensure that it takes less time to process transactions on the blockchain.

The Ethereum network can currently handle 15 transactions per second, Zilliqa claims that their network can handle 2,488 transactions per second.

In a reaction to the partnership, Tianwei Liu, CEO of Xfers said:

“By working together with Zilliqa we hope to offer an ultramodern solution that offers equal opportunities and cost-saving solutions for digital companies that want to establish themselves in the region. When we enter the next phase of growth for financial innovation, only the most robust technological solutions will enable us to fully embrace the digital economy of the future. “