How Zilliqa built a billion-dollar blockchain startup in Singapore | Hacker News Reader

How Zilliqa built a billion-dollar blockchain startup in Singapore

techinasia.com

38 pointswilliswee21 comments

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

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

$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 [2] https://github.com/Zilliqa/Zilliqa

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.

There are many ICOs that raised that much

Thats a depressing transfer of wealth from millenial males to a few con artists

> 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

1 Billion "market cap" and they don't even have a working blockchain (product) yet!

2000 all over again.

Way more money thrown around this time though?

Half a billion at the current price, so it's popped a little.

"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.

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

Basically that is a fairly useless article

On the contrary. It's very useful for certain people and certain uses.

It reminds me of office space. "So what exactly do you do here?"

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.

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.

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!

What are, "lies and hype", Alex?

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.

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