ZetaChain is a multi-level blockchain built on the Cosmos SDK, which is connected in a decentralized and efficient way to external blockchains (Ethereum, BNB Chain, Solana, Avalanche, Optimism, Arbitrum, etc.). Investor information is hidden, but on CoinsGuru you can see that people from Coinbase, Paradigm, Nansen, Dragonfly and more are following on Twitter.
Explanation from another source: ZetaChain is the world's first and only blockchain that connects everything. It facilitates cross-chain and inter-layer fund transfers, message delivery and smart contract invocations, enabling for the first time omnichain dApps (odApps) that can efficiently leverage liquidity across multiple networks and read and update states across all connected networks.
The project is currently running ZetaLabs, a place where people can test and contribute to the development of Omnichain dApps and the ZetaChain blockchain that underpins them. The point of the program is to swap tokens and get points every day. It is not yet clear what rewards await users.
đź—Ł Investors include all major market makers, top exchanges, early employees of Coinbase and Binance, including Dan Romero, Sam Rosenblum, and John Yee, as well as core members of some of the industry's most popular protocols and well-known funds, including Polygon's Jay D. Kanani .
Investment amounts are unknown.
Zeta takes a testnet that must be completed daily to earn Zeta points.
Go to the project site and log in through Twitter and Metamask.
Next, go to the LeaderBoard tab and click on "Confirm Wallet" (we got 5,000 points for these steps).
In the "Get ZETA" tab, we receive test tokens.
In the "Swap" tab, let's swap our tokens.
By repeating the last two steps, we get 250 points every 24 hours.
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.
ZetaChain’s coin ZETA is used to pay the gas fees for ZetaChain smart contracts and additionally used to secure the PoS ZetaChain blockchain by bonding/staking/slashing. ZETA is also at the core of ZetaChain’s cross-chain transfer, swaps, message delivery, and security. ZETA is one of the first multi-chain coins that is natively issued across multiple chains and layers.
Users can directly move the ZETA coin from any chain A to chain B. The mechanism is a one way peg (i.e. burning X amount on chain A and then minting X amount on chain B).
We use our own coin ZETA to represent value cross-chain because:
Unlike the more common two-way pegging, there is no wrapping and therefore no multiple representation of the same underlying asset.
The only (native) value that can go cross-chain is via the ZETA coin, which reduces attack surface substantially, resulting in an easier to understand audit and therefore higher security. For example, we can check total supply at the contract mint site.
Users can pay ZETA for the cross-chain service that ZetaChain provides, and for gas on the destination chain, in a single step/bundle.
Decentralized and public
ZetaChain is a decentralized and public blockchain network. It is built on Cosmos SDK and Tendermint Consensus. While many cross-chain solutions like bridges have varying, often centralized trust models that have a track record for being susceptible to exploits and hacks, ZetaChain is a Proof-of-Stake blockchain, where all transactions and activity on the platform -- even cross-chain transactions -- are fully transparent, verifiable, and function in a trust-minimized manner.
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.
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.
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.
We will be releasing a full schedule for the launch of our Athens (testnet) and ZetaChain Mainnet soon. Stay tuned on our Twitter, Discord, and Telegram for updates. The current Athens Testnet is live, and you can develop dApps with that -- get started here.
There are no plans for an airdrop, and performing test transactions or acquiring testnet ZETA does not translate to monetary incentives.
You can request testnet ZETA in the #zeta-faucet channel on our discord. This testnet ZETA does not and will never have any monetary value. It is solely for testing purposes, so that people can experience the use and power of ZetaChain.
No, testnet ZETA does not have any value, and will never have any monetary value. Performing transactions or acquiring ZETA on testnet networks is purely for testing purposes.
ZetaScan is ZetaChain's maintained explorer. You can view recent ZetaChain transactions and track the status of cross-chain transactions end-to-end. Check it out here.
