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How Zilliqa built a billion-dollar blockchain startup in Singapore

38 points by williswee 8y ago

throwbacktictac 8y ago
Still have no clue what they do nor how they make money. I guess it's another coin.
- quattrofan 8y ago
  Basically that is a fairly useless article
  - fapjacks 8y ago
    On the contrary. It's very useful for certain people and certain uses.
- paulie_a 8y ago
  It reminds me of office space. "So what exactly do you do here?"
- GLjEI4YbnGD27LB 8y ago
  They promise that they will develop a blockchain that scales well through sharding. Meaning it has many more transactions per second than say the 8 of bitcoin. That at least is their product. As far as I can tell they only have a test network, so I don't know if it works at all. But that's their principle. A blockchain that scales better.
throwawayqdhd 8y ago
> Zilliqa, a public blockchain network, hit its billion-dollar market cap in May this year, a little under a year since its founding This should bother anyone. 0 to $1B in market cap in 12 months is about as 'bubble' as you can get
- bitreality 8y ago
  1 Billion "market cap" and they don't even have a working blockchain (product) yet!
  - ainiriand 8y ago
    2000 all over again.
    - jacobush 8y ago
      Way more money thrown around this time though?
- DennisP 8y ago
  Half a billion at the current price, so it's popped a little.
- rsynnott 8y ago
  "Market cap" for cryptocurrencies, for all that the cryptocurrency people love to go on about it, is generally almost meaningless. The markets are very shallow; than billion could likely drop to zero very, very quickly and easily.
mihaifm 8y ago
$1B is way too much for a cryptocurrency that only has a testnet. I'm not dismissing their tech, they have more information in their technical faq [1], they're basically promissing a better consensus protocol based on sharding that it's supposed to solve the scalability issues that currently exist in ethereum, but whether this is vaporware it remains to be seen. Implementation is far from complete, they don't seem to even allow people to run public nodes [2] [1] https://docs.zilliqa.com/techfaq.pdf https://docs.zilliqa.com/techfaq.pdf [2] https://github.com/Zilliqa/Zilliqa https://github.com/Zilliqa/Zilliqa
sireat 8y ago
You meant 520M (oops now 475M ) market cap as of June 26th. They raised about 22M in their ICO in January, 2018. It seems to be just another (sh)coin with 'sharding' which seems to mean dividing network in smaller chunks/shards in order to speed up processing. Remember professors are humans too and the allure of easy money is too much to pass up.
keyle 8y ago
Why is it all about billions in the crypto currency world. You'll never see a 5M crypto startup would you, that'd sound pathetic. And the bigger the lie, the easier it is to sell.
- kami8845 8y ago
  There are many ICOs that raised that much
  - anoncoward111 8y ago
    Thats a depressing transfer of wealth from millenial males to a few con artists
deleted 8y ago
[deleted]
bbimbop 8y ago
This is a pump and dump scheme. The article poster is a marketer https://www.linkedin.com/in/simyanting/ https://www.linkedin.com/in/simyanting/
- ponyfleisch 8y ago
  Yeah seems to be a paid post, it says "Brought to you by Zilliqa" right there.
mark_l_watson 8y ago
Sorry to be a bit off topic here, but: while I agree with the other comments here about this company being very early stage to have such a large market value, what I think a lot of people tend to forget that the dollar has lost a lot of value over the last 5, 10, 20 yers. A billion dollars isn’t what it used to be. What is not clear is if this company has strong patent protection for their innovation of sharing blockchain. I would guess that this might be why they have a high paper value.
- bbimbop 8y ago
  A billion dollars is still an extremely large amount of money. The market cap is the "market price" of the coin times the number of coins. That's why they all appear so large. The price is inflated because a very small group of people owns a majority. You're only seeing a very small part of it floating. In reality, there's almost no real money at all. As you put your money in their's will come out. Good luck!
saalweachter 8y ago
What are, "lies and hype", Alex?

38 points by williswee 8y ago

throwbacktictac 8y ago

Still have no clue what they do nor how they make money. I guess it's another coin.

quattrofan 8y ago
Basically that is a fairly useless article
- fapjacks 8y ago
  On the contrary. It's very useful for certain people and certain uses.
paulie_a 8y ago
It reminds me of office space. "So what exactly do you do here?"
GLjEI4YbnGD27LB 8y ago
They promise that they will develop a blockchain that scales well through sharding. Meaning it has many more transactions per second than say the 8 of bitcoin. That at least is their product. As far as I can tell they only have a test network, so I don't know if it works at all. But that's their principle. A blockchain that scales better.

throwawayqdhd 8y ago

> Zilliqa, a public blockchain network, hit its billion-dollar market cap in May this year, a little under a year since its founding This should bother anyone. 0 to $1B in market cap in 12 months is about as 'bubble' as you can get

bitreality 8y ago
1 Billion "market cap" and they don't even have a working blockchain (product) yet!
- ainiriand 8y ago
  2000 all over again.
  - jacobush 8y ago
    Way more money thrown around this time though?
DennisP 8y ago
Half a billion at the current price, so it's popped a little.
rsynnott 8y ago
"Market cap" for cryptocurrencies, for all that the cryptocurrency people love to go on about it, is generally almost meaningless. The markets are very shallow; than billion could likely drop to zero very, very quickly and easily.

mihaifm 8y ago

$1B is way too much for a cryptocurrency that only has a testnet. I'm not dismissing their tech, they have more information in their technical faq [1], they're basically promissing a better consensus protocol based on sharding that it's supposed to solve the scalability issues that currently exist in ethereum, but whether this is vaporware it remains to be seen. Implementation is far from complete, they don't seem to even allow people to run public nodes [2] [1] https://docs.zilliqa.com/techfaq.pdf https://docs.zilliqa.com/techfaq.pdf [2] https://github.com/Zilliqa/Zilliqa https://github.com/Zilliqa/Zilliqa

sireat 8y ago

You meant 520M (oops now 475M ) market cap as of June 26th. They raised about 22M in their ICO in January, 2018. It seems to be just another (sh)coin with 'sharding' which seems to mean dividing network in smaller chunks/shards in order to speed up processing. Remember professors are humans too and the allure of easy money is too much to pass up.

keyle 8y ago

Why is it all about billions in the crypto currency world. You'll never see a 5M crypto startup would you, that'd sound pathetic. And the bigger the lie, the easier it is to sell.

kami8845 8y ago
There are many ICOs that raised that much
- anoncoward111 8y ago
  Thats a depressing transfer of wealth from millenial males to a few con artists

deleted 8y ago

[deleted]

bbimbop 8y ago

This is a pump and dump scheme. The article poster is a marketer https://www.linkedin.com/in/simyanting/ https://www.linkedin.com/in/simyanting/

ponyfleisch 8y ago
Yeah seems to be a paid post, it says "Brought to you by Zilliqa" right there.

mark_l_watson 8y ago

Sorry to be a bit off topic here, but: while I agree with the other comments here about this company being very early stage to have such a large market value, what I think a lot of people tend to forget that the dollar has lost a lot of value over the last 5, 10, 20 yers. A billion dollars isn’t what it used to be. What is not clear is if this company has strong patent protection for their innovation of sharing blockchain. I would guess that this might be why they have a high paper value.

bbimbop 8y ago
A billion dollars is still an extremely large amount of money. The market cap is the "market price" of the coin times the number of coins. That's why they all appear so large. The price is inflated because a very small group of people owns a majority. You're only seeing a very small part of it floating. In reality, there's almost no real money at all. As you put your money in their's will come out. Good luck!

saalweachter 8y ago

What are, "lies and hype", Alex?