ZetaChain (ZETA)
ZetaChain is a Layer 1 blockchain platform designed to enhance interoperability across various blockchain networks. It leverages the ZETA token to enable omnichain smart contracts, which allow decentralized applications (DApps) to interact with diverse blockchain ecosystems. This includes networks with smart contract capabilities like Ethereum and those without, such as Bitcoin and Dogecoin.
ZetaChain connects smart contract-enabled and non-smart contract blockchains into a single system, facilitating seamless interaction without the need for external bridges or asset wrapping. Built using the Cosmos SDK and employing the Tendermint PBFT consensus mechanism, ZetaChain provides a secure and scalable infrastructure. Its Proof-of-Stake (PoS) consensus model supports decentralization and cross-chain operations.
| Ticker | ZETA |
| Category | Smart Contract Platform |
| Website | https://www.zetachain.com/ |
| @zetablockchain | |
| Telegram | zetachainofficial |
| Contract Addresses | |
|---|---|
| ethereum | 0xf0...c8 Copied! |
| binance-smart-chain | 0x00...08Copied! |
Omnichain smart contracts
Omnichain smart contracts are central to ZetaChain’s infrastructure. These contracts, powered by the ZetaEVM (zEVM), enable applications to operate across multiple blockchains directly. Key functionalities include:
- Cross-chain interaction: Developers can create applications that use assets and data from various blockchains simultaneously.
- Unified programming environment: Maintaining logic and state within a single platform simplifies development and deployment.
Interoperability and cross-chain messaging
ZetaChain stands out by allowing direct use of native assets across connected networks through the ZRC-20 token standard, an adaptation of the ERC-20 standard. This enables integration of assets like Bitcoin and Dogecoin into decentralized finance (DeFi) protocols, despite their lack of native smart contract support.
The platform also includes a cross-chain messaging system for lightweight data transfers between blockchains, which can be used for non-fungible token (NFT) transfers and basic data exchanges.
Management of external assets and security
ZetaChain uses Threshold Signature Schemes (TSS) to allow validators to securely interact with assets on external blockchains. This facilitates custodial and transactional management of assets on non-smart contract chains and applies smart contract logic to non-programmable assets.
Security measures include distributed key management through TSS, preventing individual control over private keys and promoting decentralization. Network roles such as validators, observers, and signers work together to ensure secure cross-chain processes.
ZETA token
The ZETA token is the native cryptocurrency of the ZetaChain ecosystem, crucial for transaction processing, securing the network, and governing protocols. It serves as the gas fee for network transactions, including cross-chain operations, and is staked by validators to maintain platform integrity. It also plays a role in governance, allowing token holders to participate in protocol decision-making, and supports liquidity pools to facilitate efficient transactions.
In cross-chain transfers, ZETA is burned on the source chain and minted on the destination chain, ensuring smooth asset movement without the complexities of wrapped tokens.
Tokenomics
ZETA has an initial supply of 2.1 billion tokens, designed to sustain network growth. A controlled inflation rate of approximately 2.5% annually will be introduced after the first four years to balance ecosystem needs. Token distribution supports various facets of the ecosystem:
- User Growth Pool: 10% (210 million tokens) for user acquisition and community engagement.
- Ecosystem Growth Fund: 12% (252 million tokens) for developer contributions and partnerships.
- Validator Incentives: 10% (210 million tokens) to reward network security.
- Liquidity incentives: 5.5% (115.5 million tokens) for ZRC-20 pools.
- Protocol Treasury: 24% (504 million tokens) for ecosystem initiatives and development.
- Core contributors and advisors: 22.5% (472.5 million tokens).
- Early investors and supporters: 16% (336 million tokens).
ZetaChain ecosystem
ZetaChain supports the development of decentralized applications (DApps) across multiple sectors. In DeFi, it facilitates cross-chain lending, trading, and liquidity protocols. For gaming and NFTs, it supports interoperable NFT marketplaces and gaming applications. In identity and social applications, ZetaChain enables cross-chain identity verification and decentralized social platforms.
ZetaHub offers a comprehensive interface for engaging with the ecosystem, allowing users to connect wallets, stake and delegate ZETA tokens, and manage assets efficiently. The platform’s decentralized infrastructure relies on validators, observers, and signers to maintain network operations and secure cross-chain interactions.