ZetaChain (ZETA) is an L1 blockchain ecosystem supporting advanced smart contract programmability. The protocol is unique in many ways including the ability to create and deploy smart contracts across other blockchains, even those with no smart contract support like Bitcoin. Here”s everything you need to know about ZetaChain.
ZetaChain remains a popular interoperability solutions provider. The network has facilitated more than $126M in transactions. Additionally, the community now includes 3.1M active users and more than 250 strategic partners. All of this growth helped ZetaChain carve out a niche as a top-performing chain-agnostic option to consider.
What Problems Does ZetaChain (ZETA) Attempt to Fix?
There are some serious issues that ZetaChain eliminates or reduces. The protocol helps to alleviate onboarding concerns for new users via a straightforward interface that places all features within a click. Additionally, the protocol enables users to leverage a single wallet to conduct all activities, streamlining the DeFi process while providing you the capability to interact with your digital assets, data, and the entire blockchain market.
Source – ZetaChain (ZETA) Homepage
Lack of Interoperability
One of the main issues within the blockchain sector is a lack of interoperability. There are hundreds of blockchain networks, but very few can communicate data and value directly. This lack of interoperability leads to major inefficiencies as developers must waste time recreating services provided by other projects.
ZetaChain’s approach enables programmers to create multi-chain Dapps that leverage the vital aspects of each network. The system enables developers to create smart contracts spanning multiple networks via its chain agnostic message passing protocol. This feature allows users to bring assets across networks as well.
The structure allows businesses to integrate the best aspects of each project. For example, you could create a dapp that uses an L2 for scaling, Ethereum for programmability, and Bitcoin to validate. The main benefit is that you don’t need to spend time creating solutions that already exist.
Benefits of ZetaChain (ZETA)
ZetaChain introduced many benefits to the market. The protocol was created to be developer-friendly. As such, the actions have been streamlined, including the creation, management, interoperability, and deployment of complex multichain dapps.
Simplified Fees
One of the main concerns of multi-chain dapp development is managing fees across networks. Using multiple blockchains could cause your dapp to charge a fee for each network interaction, resulting in a program that is too expensive to be practical. The ZetaChain structure reduces fees and simplifies the process to make it easy for developers to ensure they remain within their fee structure goals.
Deep Liquidity
Another major draw for ZetaChain users and developers is the ability to tap into liquidity across the DeFi space. Developers can access liquidity deposits via decentralized yield services. Specifically, ZetaChain enables developers to integrate advanced options such as aggregation protocols, yield-generating savings accounts, and portfolio management services.
Integrate Bitcoin
Bitcoiners find ZetaChain to be helpful as well. The protocol is capable of adding smart contract programmability to other blockchains. As such, dapp developers can integrate BTC directly into their creations and enable users to interact with the DeFi ecosystem using the world’s first crypto.
Rewards
Those seeking more reward opportunities should consider the ZetaChain. The platform’s Zeta XP campaign enables anyone to secure rewards by completing basic tasks. For example, you can earn rewards by inviting friends to the ecosystem, depositing tokens, participating in certain pools, and interacting with the ecosystem.
How Does ZetaChain (ZETA) Work?
ZetaChain is a layer 1 blockchain that supports the latest DeFi functionalities. This 4th gen network has a Chain Abstraction Framework that enables it to connect and leverage other blockchain network features without sacrificing security or performance. The network provides developers with a universal EVM that shortens creation and deployment times.
ZetaHub
Users entering the ZetaChain ecosystem will operate from the Zetahub. This one-stop shop has everything you need to interact and build. The features are easily accessible and laid out in a way, which eliminates confusion.
Token
The main utility token for the network is ZETA. This flexible asset serves several crucial roles within the economy. It has a medium supply of 2.1B tokens and is required to interact with the ecosystem. Specifically, it’s the main reward token. Also, it’s used to pay all network fees and can be staked to secure passive returns. ZETA is a ZRC-20-compliant token that is compatible with the EVM ecosystem.
Consensus
ZetaChain is a PoS blockchain. This designation means that users can stake their tokens to help secure the network. This approach to blockchain validation is more open and requires less funding and technical skills than PoW networks because it eliminates the need for miners, rigs, and other technical requirements. Anyone can do their part and participate in the ZetaChain consensus process.
Governance
ZetaChain is a community-led project that leverages a DAO to empower users. Users stake their ZETA tokens to gain access to the governance options. Here, you can put forth proposals or vote on pending ones to help guide the platform forward. This style of decentralized governance helps to promote transparency and keeps developers and their communities in touch.
How to Buy ZetaChain (ZETA)
Currently, ZetaChain (ZETA) is available for purchase on the following exchanges.
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry, with over 9,000,000 users and over $207 billion in quarterly trading volume.
Kraken exchange offers trading access to over 190 countries, including Australia, Canada, and Europe, and is our most recommended exchange for USA residents. (Excluding New York & Washington state)
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. Restrictions may apply, depending on location.
Gate.io – This exchange was established in 2013 and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions, including Australia & the UK. USA & Canadian residents are prohibited.
ZetaChain (ZETA) – A New Era in Connectivity
ZetaChain is a project to be watched for many reasons. The platform helps to bring together the entire market and provides developers with a viable solution to their programming woes. In the future, ZetaChain will continue to attract more developers and users wanting a chain-agnostic experience without sacrificing the use of their favorite assets.
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