ZetaChain is basic, public blockchain that allows you to exchange tokens, smart contracts and messages between any blockchains, while this is not a "bridge", but a much more secure and reliable structure.

You can also find more details here on the official website.

ZetaChain's own coin, ZETA, is used as an intermediate token (when transferring between networks), as gas for the network, and to support and stimulate decentralization in the network - staking, linking, and so on.

ZetaChain is a L1 smart contract enabled blockchain with chain-agnostic interoperability built in.

ZetaChain is built on Cosmos SDK and Tendermint Consensus. While many cross-chain solutions such as bridges have various, often centralized trust models that are known to be vulnerable to exploits and hacking, ZetaChain is a Proof-of-Stake blockchain in which all transactions and activities on the platform are completely transparent, verifiable and operate with minimal trust.

ZetaChain nodes have observers that monitor transactions on each connected chain. Thanks to the ZetaChain TSS architecture, the network can sign and verify transactions on every connected chain, just like a wallet can. With the ability to read and write on connected chains in a secure and decentralized manner, these hyper-connected nodes provide developers with a seamless multi-chain environment for building new and powerful cross-chain applications.

Zeta EVM (zEVM) and ZRC-20 standard

ZetaEVM (zEVM) is a module on top of the ZetaChain network that allows users to create and deploy EVM-compatible Omnichain smart contracts that can read, write, or manage data and liquidity on any connected chain from a single location. The new standard, called ZRC-20, allows Omnichain smart contracts to manage their own assets on connected chains. With ZRC-20, developers can create applications that use native fungible tokens such as Bitcoin, ERC-20, and transact on the same chain.

Smart contracts omnikeye

Smart contracts can be natively deployed on ZetaChain, which can read/write to connected chains. ZetaChain is the only public blockchain that supports smart contracts with this capability, enabling a new application development paradigm.

Managed External Assets

As developers have created thousands of new DeFi and NFT applications, there has been an increase in the number of users who experience cryptocurrencies for the first time. However, the user experience for both developers and users has become sub-optimal, and this is especially true when it comes to supporting multiple networks (Tier 1 blockchains like Ethereum and BSC and Tier 2 solutions like Polygon and Optimism) and moving assets between networks.

The ZetaChain network and dApps built on top of ZetaChain can manage the assets and storage of external connected chains. This allows you to manage assets on any chain in the same way that a smart contract on one chain can manage assets on the corresponding chain. Thus, a dApp on ZetaChain can organize and implement smart contract logic in any connected chain. This property applies to all chains, including chains without smart contracts such as Bitcoin and Dogecoin.

The possibilities of what can be created with ZetaChain are endless, but some of the applications developers can create include:

• Cross-chain DEX in native tokens without a "wrapper"

• Decentralized and fault-tolerant bridges

• Omnichain smart contracts that can control and execute events across all connected blockchains

• Cross-chain lending and yield protocols

• Omnichain NFT Applications

Key Features

1. A full-fledged blockchain, not a "bridge";

2. Increased security compared to other methods of transmission between networks;

3. Support for Omnichain dApp (decentralized applications for working in different networks);

4. For developers, you can connect your application through ZetaChain's Connector.

Future of Zetachain

The community is developing very quickly even in the current bear market, I think it will be native in the bull market (a good fundamental, an active community and active development will give their result, plus with the growth in the number of blockchains, the question of transferring assets between them arises).

Key figures for 2022:

• 400,000+ users tested the ZetaChain testnet for 3 months

• 2nd largest guild out of 3,153 web3 projects (ZetaChain launched its guild 2 weeks ago).

• 105,000 users have been given the roles of ZETA Supporter and ZETA User on the ZetaChain Discord.

• 200,000 users minted NFT during the ZetaChain Mission Bring ZETA Home campaign after we launched a strategic partnership with Galxe to provide omnichain identification.

• 440,000+ people now make up our social audience on Twitter, Discord and other channels.

• 1,500,000+ cross-chain transactions (CCTX) in ZetaScan blockchain explorer

• 140+ test dApp contracts implemented by a rapidly growing developer community. Check out the ZetaChain documentation.

• 50% increase in continuous peak throughput.

• 60+ millions of ZetaChain transactions and over 4.15 million transactions on the testnet.

One of the advantages of the ZETA coin is that it allows the transfer of the value of any asset over any network through a one-way pegging mechanism (i.e. burning X amount on Network A and then mining X amount on Network B). This approach to instant native settlement bypasses "wrapping" or locking of assets, which is a common pattern where the user's risk increases over time (look at all the bridge/wrapped asset hacks over the past year).

What can you do now?

Participation in the ZetaChain testnet

1. You need a Metamask wallet (there are a lot of installation instructions on the Internet) and a Twitter account older than one month (!).

2. We register on the site, in the field “Enter your wallet address” we insert the address from Metamask (starts with 0x…) and press the button

3. On the site, click on the Earn ZETA Points button and log in through your Twitter account.

4. Go to the Leaderboard tab and click Confirm Wallet, refresh the page

5. Go to the Get ZETA tab and get test tokens (you can request every 24 hours).

6. In the Swap tab, you can exchange test tokens in different networks. Once a week, we will receive 7000 Zeta-points for the exchange of tokens in various networks. You can see your points and place in the ranking on the Leaderboard tab.

   Important: sometimes the network may not work or be unstable (test network after all), so you can try again later.

Here is an invitation link for joining testnet.

Galxe OATs

By exchanging tokens according to the instructions above, you can pick up OATs (network achievement tokens) at the link.

Crew3 activities

To complete the tasks you need Twitter, Discord. There are tasks both simple (like/retweet; quiz) and more difficult (video/posts, etc.). Here you can already perform as you wish (because I believe that tasks on the test network must-have - it is performed very quickly and does not require investments).

Please follow an Crew3 invitation link.

Conclusion

To sum up, ZetaChain is a revolutionary technology that can definitely change the shape of blockchains. It’s a future that is happening right before your eyes and you can be the part of it.

Official links

Here you can find an official links for further reading.

🌎 Website 📄 Whitepaper 🔎 ZetaScan Explorer 🔐 Developer Docs 📢 Blog

AM | @cryptogoer | Venturist at Blablaventures