Zilliqa stands out as a blockchain platform that prioritizes scalability and security. By utilizing the sharding process, a native programming language, and a governance mechanism, Zilliqa aims to establish a resilient ecosystem for decentralized applications (dApps) and cryptocurrencies. This article delves into two common inquiries: What is Zilliqa (ZIL) and how can one purchase Zilliqa (ZIL) with TRY.
What is Zilliqa (ZIL)?
Zilliqa serves as a blockchain network engineered to enhance scalability through sharding. Sharding involves dividing the network into interconnected smaller blockchain segments, enabling the simultaneous processing of more transactions. This unique approach sets Zilliqa apart from other blockchains like Ethereum, Tron, and EOS. Stay updated with the latest technology news through NEWSLINKER.
A key feature of Zilliqa is its security-oriented native programming language, Scilla. Developers can leverage Scilla to craft dApps that replicate real-world services. These dApps can execute specific logic through smart contracts and interact with the Zilliqa blockchain.
The ZIL coin, the primary asset on the Zilliqa network, plays a pivotal role in the ecosystem. It is utilized to run programs, facilitate transactions, and incentivize network participants who contribute to its support. This incentivization is crucial for upholding the integrity and security of the blockchain.
The network’s sharding process enhances transaction efficiency. Each shard functions as its own blockchain, processing a portion of the network’s transactions. These shards are then amalgamated into transaction blocks by Directory Service Nodes (DS nodes) and appended to the Zilliqa blockchain.
Furthermore, Zilliqa employs the Practical Byzantine Fault Tolerance (pBFT) governance mechanism to ensure the synchronization of the distributed computer network. Nodes engaging in the network must stake ZIL coins to operate and partake in voting on changes. Once a consensus is reached among the nodes, transactions are validated, and nodes are rewarded with a share of the block reward.
How to Buy Zilliqa (ZIL) with TRY?
Binance TR emerges as the ideal cryptocurrency exchange for investors in Turkey seeking to acquire Zilliqa (ZIL). Over 100 cryptocurrencies, including ZIL, can be swiftly bought and sold on Binance TR. To purchase Zilliqa (ZIL) with TRY on Binance TR, adhere to the following steps.
How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. Visit trbinance.com and proceed from the “Create Account” stage. During the initial account creation step, you will be prompted to input basic details such as email address, phone number, name, date of birth, nationality, and T.C. identity number.
After accurately furnishing the requested information, email/SMS verification will be conducted to validate the details. Following this verification, you will advance to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a crucial security measure that must be completed before engaging in cryptocurrency trading and during account setup. This verification is essential for safeguarding both the user and the cryptocurrency exchange. Identity verification can be completed via your phone or the official Binance TR website. Note that you will require your mobile phone for identity verification on the website.
To verify your identity on the Binance TR website, hover over the “Profile” option at the top right, select “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” Subsequently, scan the QR code displayed using your phone’s camera and proceed with the process on your phone. In case you are unable to scan the QR code, opt for the “Copy URL” option to have the identity verification link sent to your phone via SMS.
Upon entering the link on your phone or scanning the QR code, a screen will appear prompting you to tap on the “Identity” option. Follow the subsequent steps to select your document type, upload the front and back sides of the document, and capture a selfie. Ensure that the images are clear and the information is legible for a successful identity verification process.
How to Deposit TL on Binance TR?
You can conveniently deposit TL into your Binance TR account from various banks. Deposits can be made around the clock from banks including Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For other banks, FAST enables deposits up to 50,000 TL 24/7, with deposits exceeding 50,000 TL processed during EFT hours.
To deposit funds into your Binance TR account, navigate to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and select the “Deposit” option from the drop-down menu. Choose your preferred bank from the displayed page to proceed with the deposit process. If your bank is not integrated with Binance TR yet, select the “Other Banks” option to continue.
In the case of Vakıfbank, for instance, upon selection, an account name and IBAN address will be provided for transfers via transfer, EFT, or FAST. Utilize the displayed information to transfer your desired deposit amount into your Binance TR account.
Once the transfer process is completed by your bank, the funds will automatically reflect in your Binance TR account wallet.
How to Buy ZIL Coin with TL on Binance TR?
Following the deposit process, you can initiate the purchase of ZIL coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website. Proceed to the ZIL/TRY purchase page, search for “ZIL,” and select the ZIL/TRY option to access the ZIL trading page. Input the desired price and quantity of ZIL, and finalize your purchase by clicking on the “Buy ZIL” button.
What is Binance TR?
Binance, recognized as the world’s largest cryptocurrency exchange by trading volume, officially introduced Binance TR for cryptocurrency investors in Turkey in 2020. Headquartered in Istanbul, the cryptocurrency exchange can be accessed at trbinance.com.
Leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure, Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) via direct bank channels and trade various cryptocurrencies with TRY trading pairs through Binance TR.
Users gain access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities via Binance TR.
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Disclaimer:
The information presented in this article is not intended as investment advice. Investors should be mindful of the high volatility associated with cryptocurrencies and conduct their own research before making investment decisions.
