Zilliq is a cross-platform peer-to-peer blockchain-based payment network for crypto-currencies.
Its open source software, ZilliQ, is a full-featured POS-capable Bitcoin payment processor, as well as an integrated Bitcoin exchange.
The platform was launched in 2014, and has since been used by over 100,000 merchants worldwide.
The Zilliqs platform has raised a total of $15.8 million from investors, including the Winklevoss twins.
Zilliqi is also the only platform that can be integrated into the Bitcoin blockchain, meaning users can now make payments directly from their wallet to each other in real time.
It can also integrate with other cryptocurrency payment systems, like Dash, for a seamless cross-chain payment experience.
The cryptocurrency has been the subject of numerous headlines, including an article on The Verge where it was referred to as a “ponzi scheme.”
Its rise is not just a matter of hype, however.
The project has been plagued by technical issues that have forced it to temporarily suspend trading.
This past month, Ripple was forced to take legal action against the company for allegedly violating a cease-and-desist order that had been issued by a US federal court.
The settlement agreement required Ripple to make the company take measures to ensure its Zilliqt coins are stored and protected against hacking, fraud, and other risks.
Since the launch of Zillique, Zillipos founder and CEO, Charlie Lee, has been actively lobbying the bitcoin community to help him get his coin back.
“We have been actively working to get the coin back,” Lee told Business Insider.
“It’s just not ready for this level of scrutiny, but I think the community is very supportive and they’re going to be very supportive of our plans for the future.”
The company is also continuing to address the issues raised by the court, which Lee said he is “proud to call one of the most important legal battles in our history.”
Lee said the company has worked closely with the Justice Department, the SEC, and the FBI to help with the investigation.
Lee said that the company plans to release a full statement shortly about the events leading up to the settlement agreement, but that the team is working hard to keep the community updated.
“This has been an incredible experience for all of us and we’re excited about the future,” he said.
Zilliq will remain open for business as long as it can, Lee added.
“Once we’ve got it fully operational and the technology is stable, we will resume trading and trading activity will resume as normal,” he added.