Nikolas Sargeant
On Monday, the Zilliqa team announced via X that the first hard fork for the migration of Centralized exchange balances is scheduled for Block height 34,844,968, with an estimated activation time of 2 September 2026 at approximately 12:58 UTC.
It will migrate the ZIL balances held in participating exchanges’ legacy Schnorr-based wallets to the new Zilliqa EVM wallet addresses provided and verified by each exchange.
KuCoin, Binance.US, MEXC, OKCoin, Bitvavo, Korbit, WhiteBit, Bitrue, CoinSpot, and CoinSwitch are the exchanges included in the first hard fork.
Once the hard fork is active and balances have been successfully migrated, exchanges included in this first batch are expected to begin restoring ZIL deposits and withdrawals on Zilliqa EVM.
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 designed to offer high throughput, capable of completing 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 $0.002772, up 2% in the last 24 hours.
