Zebpay is launching a new cryptocurrency Zilliqa on its platform. Zilliqa is a crypto which claims to solve the existing and perverse scalability conditions that are present in different crypto coins. It also claims to process these transactions smoothly and quickly. But it does so after the mining nodes join the system.
Zilliqa blockchain has its basis in large throughput and also the process of sharding. It already has the famous listing of having 1389 trades per second. The listing is impressive given the large altcoin market.
Zebpay is one of the largest cryptocurrency exchanges in India. Its launch of Zilliqia is definitely going to benefit the coin. However, Zillliqa was recorded at the Zebpay on the same day, its own trading begins from today.
Zebpay has informed the launch from its blogpost. The post said that ZIL is launching from today i.e. 7th of June, and the timing of the launch is 1:00PM on the IST. It also said that the customers should consider moving their ZIL to Zebpay wallet soon. SO that they may not face the delays in transferring ZIL after the trading starts.
The conditions of the crypto regulations in India are as tedious and tiresome as can be accepted. RBI, the apex financial institution has already called for the Indian banks to quit working with the crypto exchanges across the country.
The confusion after this decision exploded. The regulatory framework is nowhere to be seen. However, the government is also not out rightly banning the cryptocurrency. At the same time, Finance Ministry has clarified that the cryptocurrencies are not legal tenders. The limbo the Indian governance has woven around crypto assets is flabbergasting.
The exchanges are not holding their breath and are working to transform themselves to full-fledged crypto to crypto trading. The banks non-cooperation will not matter much if they can achieve such transformation.
They have introduced some clever applications. These applications helps the investors to track their crypto values in Indian currency. Despite the INR to crypto transfers, these tools will help investors to make more informed decisions.