Smart contract platform Zilliqa (ZIL-USD) is one of the hottest cryptos currently, and it could get even hotter. Blockchain news site CryptoSlate announced a partnership with the platform, which could potentially be a growth catalyst for ZIL.
As part of the agreement, CryptoSlate will jointly launch an educational campaign with Zilliqa on Zeeves. Zeeves is essentially an engagement bot on Telegram, designed to create and host quizzes and manage crypto assets.
CryptoSlate will be launching a series of quizzes on Zeeves, enabling readers to earn ZIL tokens for answering correctly in featured articles. The partnership could be huge for the news outlet and Zilliqa, which has been on fire recently.
Zilliqa is a high-throughput smart contract platform that aims to scale thousands of transactions in a second. Moreover, its developers plan to launch the first public blockchain sharding architecture. Sharding involves splitting networks into smaller partitions, effectively spreading out the workload.
The partnership with CryptoSlate could be a needle-mover for Zilliqa in its attempts for mainstream adoption. According to SimilarWeb, the website attracted more than 1.1 million visits last month alone. Additionally, total visits are up 23.8% from last month, with an average visitor duration of 39 seconds.
However, the bounce rate for the website and the percentage of users leaving the site after viewing just a page are remarkably high. Its 72% bounce rate is far from ideal, which is where the Zilliqa agreement could help. Also, with an incentive for users to earn ZIL, the bounce rates could reduce significantly, creating a win-win situation for both parties.
ZIL is up more than 170% this month and has a lot of momentum behind it. With the recent developments, it could be an interesting short-term play.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.