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Author Topic: ZetaChain  (Read 3108 times)

Offline Kimbi

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    One year Anniversary Topic Starter First Post
ZetaChain
« on: November 08, 2022, 07:29:12 PM »
ZetaChain is the only decentralized blockchain and smart contracts platform designed to be compatible with omni-channel networks.ZetaChain is the world’s first and only blockchain that connects everything. It facilitates cross-chain and cross-layer value transfer, message delivery, and smart contract calls — thus enabling for the first time omnichain dApps (odApps) which can leverage liquidity on multiple networks and read and update states on all connected networks.ZETA is ZetaChain's native coin, one of the first coins that is natively issued across many chains. ZETA is used for many aspects of the network, including as an intermediary token in the case of cross-chain value transfer. The coin is used as gas for the network, just as ETH is used on Ethereum, as well as for maintaining and incentivizing decentralization in the network — staking, bonding, slashing, and so on. These properties provably provide a sustainable foundation to the ZetaChain network’s security, longevity, and scalability, especially when compared to many other existing interoperability solutions which can be centralized, poorly incentivized, and unsustainable long-term. Any asset or data can still be transacted across any connected chain. Having ZETA as the denomination of value moving cross-chain also provides ZetaChain an extremely minimized attack surface that is not vulnerable to many of the exploits that many projects in the interoperability space are susceptible to.ZetaChain's nodes have observers that monitor transactions on every connected chain. Through ZetaChain's TSS architecture, the network can sign and verify transactions on every connected chain as a wallet can. By being able to read and write to connected chains in a secure, decentralized manner, these hyper-connected nodes provide a seamless omnichain environment for developers to build novel and powerful cross-chain applications on top of. A user pays for all fees within a single transaction when performing cross-chain actions through ZetaChain. All fees (ZetaChain network fees, destination gas fees) are bundled in a single transaction. An omnichain dApp is a decentralized application that functions seamlessly across blockchains and layers through ZetaChain. This can take the form of smart contracts deployed on various chains which interact by passing messages and value through ZetaChain, smart contracts deployed directly on ZetaChain which manage assets on any or all connected chains, or some combination thereof. ZetaChain is, at the time of writing, unique in its support for chain-agnostiic omnichain dApps. No other blockchain enables fully interoperable smart contracts. This feature allows an unbounded platform to build omnichain and cross-chain applications that function as if everything lived on a single chain. Although some systems like Cosmos offer interoperability within the IBC ecosystem, ZetaChain brings seamless interoperabiliy to all chains, including non-smart-contract chains like Bitcoin and Dogecoin. As a blockchain and smart contract platform, ZetaChain provides a fully public, transparent, decentralized interoperability solution that supports both omnichain messaging and smart contracts. Developers on ZetaChain only need to implement their dApp logic, while ZetaChain handles the transaction of data and value across chains in a trust-minimized way. Rather than outsourcing security to third-party oracle and relay like LayerZero to transfer data/value across chains -- which requires full trust from the users in the applications and relayer + oracle -- ZetaChain provides a simpler and more robust trust model to transact across chains where a developer and user alike need only trust the network for the delivery of their data and value. Read more about other interoperability solutions and how they compare to ZetaChain in the whitepaper. At the moment there are a lot of different activities from the project. The community is very kind and responsive.
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ZetaChain
« on: November 08, 2022, 07:29:12 PM »

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