ZetaChain which 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.
What can you do with ZetaChain?
ZetaChain includes a Proof of Stake (PoS) blockchain built on Cosmos SDK which is connected to external blockchains (e.g., Ethereum, BSC, Solana, Avalanche, Terra, Bitcoin) and layers (e.g., Polygon, Optimism, Arbitrum) in a decentralized (without a single point of failure, trustless, permissionless), transparent, and efficient way.
With ZetaChain, we will enable developers to build odApps with the same ease as developing dApps for a single network like Ethereum or Polygon while being able to leverage composability across networks.
ZetaChain provides two ways for users and developers to utilize its cross-chain capabilities. First, ZetaChain provides EVM compatible smart contracts so developers don’t need to learn another language and can easily customize their existing Ethereum dApps to function across all connected networks. Furthermore, ZetaChain has built-in decentralized bridges to and from all connected chains so that assets and data can enter and exit ZetaChain with ease.
Second, ZetaChain will be a programmable public computer that directly reads and updates states on all the connected networks. The application logic primarily lives on ZetaChain while the states primarily live on external chains.
Possibilities of what can be built with ZetaChain are endless but some applications that developers can build include:
Cross-chain DEXes in native tokens without wrapping
Decentralized and fault tolerant bridges
Omnichain smart contracts that can monitor and perform events on all connected chains
Cross-chain lending and yield protocols
Omnichain NFT apps
ZetaChain's token ZETA
ZetaChain’s token ZETA is used to pay the gas fees for ZetaChain smart contact 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 tokens that is natively issued across multiple chains and layers.
Users can directly move the ZETA token 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).
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 token, which reduces attack surface, 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 ZETA provides, and for gas on the destination chain.