Nikolas Sargeant
On Wednesday, the Zilliqa team announced via X that Zilliqa has entered into a strategic partnership with LTIN.
The Liechtenstein Trust Integrity Network (LTIN) is the sovereign blockchain infrastructure majority-owned by Telecom Liechtenstein.
LTIN issues the verifiable organisational identity; Zilliqa runs the neutral check that confirms both parties are permitted before a transaction settles on any chain.
With this agreement and the respective joint investments, Zilliqa will also become a major shareholder of LTIN, together with Telecom Liechtenstein as the majority shareholder.
The partnership advances three building blocks, each addressing a structural weakness in today’s digital economy.
A verifiable identity issuer (vLEI)
Digital business identities remain insecure and costly to verify, and fraud and opacity are increasing. LTIN is in the process of obtaining the GLEIF accreditation to be an issuer of verifiable Legal Entity Identifiers. On this basis, LTIN plans to provide tamper-proof, machine-readable organisational identity, a trust anchor for the digital economy, delivering transparency and legal certainty as a public good.
A neutral mediation layer
Closed platform silos and dependence on a handful of providers slow innovation and lock participants in. Zilliqa contributes a neutral, interoperable layer that connects separate systems and verifies that counterparties satisfy applicable identity and compliance requirement before transactions settle, enabling open interoperability instead of platform lock-in while strengthening fair competition and digital sovereignty.
An efficient settlement network
Settlement over legacy intermediary chains is slow, costly and opaque. The partners intend to jointly develop the foundations for a trusted settlement network spanning European financial centers, including Vaduz, Zurich and Frankfurt, lowering barriers and increasing financial inclusion and stability.
Together, the three initiatives form a single proposition: Trustworthy digital infrastructure as a contribution to the common good.
Zilliqa (ZIL) is one of the world’s first blockchains being built on a sharded architecture and features smart contracts written in the platform’s proprietary programming language: Scilla.
It is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.
Zilliqa claims to be the world's first public blockchain to rely entirely on a sharded network. This allows it to achieve high throughput and a high rate of transactions per second, which it says solves the scalability issue. Because each shard processes transactions individually, as the network grows and the number of shards increases, the number of transactions that can be processed per second also increases. As well, records are immediately added to the Zilliqa blockchain after being processed, meaning that no additional time for confirmation is required.
Zilliqa seeks to become the blockchain of choice for large-scale enterprise use, including among the advertising, gaming, entertainment and financial services and payments industries. In its 2018 position paper, its team states that the platform "aims to rival traditional centralized payment methods such as VISA and MasterCard."
ZIL is trading at $0.003024, up 1.78% in the last 24 hours.
