Less than a year ago, I had no idea what a cryptocurrency was. I was absolutely sure that such investments were definitely not for me. And even more so, I could not even dream of understanding and freely manipulating such words as blockchain, networks, tokens, and everything like that. But a lot has changed in a fairly short period of time. And at present, the world of cryptocurrencies for me is an amazing country in which I want to dive deeper and deeper!
In fact, the blockchain system is able to completely replace the traditional financial system. There is really one problem. Each blockchain is a separate financial system, and they do not interact with each other in any way. And this is where the wonderful ZetaChain!
ZetaChain solves the issue of interaction between different blockchains, providing the ability to transfer information between different blockchains! Zeta Chain is a whole crypto ecosystem where users and developers can cross between different blockchains not only in the world of decentralized finance, but also in areas such as art, oracles, games, productivity, security, privacy and much more. ZetaChain is a blockchain that is built on Cosmos, designed to be cross-chain compatible with other blockchains. It solves the problem of blockchain interoperability by creating a public L1 blockchain.
ZetaChain is designed to bring all blockchains together into a single interoperable system. In fact, they solve the problem of cross-chain bridges and the need to wrap tokens during operations between networks, which significantly increases security. Zeta Chain nodes have observers that monitor transactions on each connected chain. With the ZetaChain device, the network can sign and verify transactions on every connected chain, and so does the wallet. The built-in nodes provide a single, multi-channel environment for developers to create modern new and diverse internetworking applications.
What do I especially like about the Zeta Chain project?
1.Users no longer need to worry about having tokens for commission. I'll explain a little. How does it usually happen? To conduct transactions in each of the networks, you must have native coins of the network on your wallet to pay the commission! For example, if you need to transfer some TWT coins to your friend, it's not enough just to have TWT in your wallet! Need more BNB to pay for gas! And so in every network! How many networks, so many native coins! You can go crazy! With Zeta Chain you will forget about it! As surprising as it may seem, it is true! 2. There is no longer any need to manage multiple wallets on the network and deal with clunky and awkward user interfaces with dubious trust scores. Thanks to Zeta Chain, you can use one wallet and your favorite interface to store and move completely different assets, such as bitcoin, ether, matic, atom, and many many more!
Now, of course, thanks to Zeta Chain, your assets are immediately credited to the account, as if they were all on the same blockchain. All fees, gas costs and slippage are reduced as users use one single contract that manages multiple tokens. All this magic happens on the Zeta Chain network, where all transactions and fees are combined into one transaction.
Now let's briefly recap the main features of Zeta Chain.
Decentralized and absolutely transparent. Zeta Chain is a decentralized and public blockchain network. As mentioned above, it is built on the Cosmos SDK and the Tendermint consensus. This allows you to create a truly decentralized network. ZetaChain is a proof-of-stake blockchain. All transfers and any actions made on the platform, including transactions between different blockchains, are completely transparent and can be checked at any moment by anyone!
Hyperconnected nodes. The nodes of the Zeta Chain network have observers that monitor transactions on each connected chain. With ZetaChain's TSS architecture, the network can sign and verify transactions on every connected chain. With the ability to read and write to connected chains in a secure, decentralized manner, developers get a seamless environment for building cross-chain decentralized applications.
OmniChain smart contracts. Zeta Chain smart contracts have the ability to read and write to pluggable blockchains, even those that do not natively support smart contracts (bitcoin, dogecoin are examples of them). It becomes possible to transfer data between blockchains and layers using simple functions that can be implemented in existing smart contracts. ZetaChain is the only public blockchain that supports smart contracts with this capability, enabling a completely different application development paradigm.
Management of external assets. The Zeta Chain network allows applications built on top of Zeta Chain to manage assets and storage of externally connected blockchains. Thus, developers can introduce smart contract logic into blockchains that initially do not have such an opportunity (for example, Bitcoin, Dogecoin and many others).
So, Zeta Chain is a decentralized Proof of stake blockchain with a multi-party Threshold Signature Scheme (TCS) that allows blockchains to interact with each other and create decentralized applications.
Why am I sure that the project has a grandiose future?
This is the world's first and only blockchain that connects absolutely everything! Bitcoin, Etherium, Doge, Polygon and more!
Very strong development team. These are the guys who participated in Coinbase, Paxos, Sans, Consensus, OneLadger, Brave browser and a few more. It is they who are currently actively working on the creation and improvement of the Zeta Chain
There is information that such sharks as Coinbase, Binance, Polygon and Hashed have invested considerable funds in the project, but this is unconfirmed information.
The project has very strong and competent marketing. This is extremely important in today's world!
The ability to create multi-chain decentralized applications (odApps) based on it, which can use liquidity in several networks at once.
Currently, the testnet of the project has already been launched. Mainnet is not yet launched and there is a chance to get a good reward for testing the network. The launch of the main network is planned for the 1st quarter of 2023.
How did I find out about this project? Thanks to our awesome crypto community! I already wrote at the beginning that less than a year ago I was a complete loser in the world of cryptocurrencies! So, thanks to the wonderful person Alexander Firsov, this gap in my worldview is getting smaller and smaller every day! He created a wonderful community BlaBlaVenchures. We are actively studying and testing promising projects in the world of cryptocurrencies. And the Zeta Chain project is one of our favorites!